Night Squared LP Makes New Investment in Texas Roadhouse, Inc. $TXRH

Key Points

• Night Squared LP invested approximately $6.46 million in Texas Roadhouse, purchasing 38,775 shares, which constitutes around 3.8% of their holdings.
• Several hedge funds, including Axiom Investors and Congress Asset Management, significantly increased their positions in Texas Roadhouse in the first quarter, showcasing strong institutional interest.
• Texas Roadhouse announced a quarterly dividend of $0.68 per share, set to be paid on September 30th, reflecting a healthy 1.6% dividend yield.

Night Squared LP purchased a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 38,775 shares of the restaurant operator's stock, valued at approximately $6,461,000. Texas Roadhouse accounts for about 3.8% of Night Squared LP's portfolio, making the stock its 6th largest position. Night Squared LP owned about 0.06% of Texas Roadhouse at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Valeo Financial Advisors LLC lifted its position in shares of Texas Roadhouse by 2.3% during the 1st quarter. Valeo Financial Advisors LLC now owns 2,750 shares of the restaurant operator's stock valued at $458,000 after acquiring an additional 62 shares during the period. Optas LLC lifted its position in shares of Texas Roadhouse by 1.3% during the 1st quarter. Optas LLC now owns 5,217 shares of the restaurant operator's stock valued at $869,000 after acquiring an additional 65 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of Texas Roadhouse by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,627 shares of the restaurant operator's stock valued at $2,271,000 after acquiring an additional 66 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Texas Roadhouse by 14.0% during the 1st quarter. Smartleaf Asset Management LLC now owns 601 shares of the restaurant operator's stock valued at $103,000 after acquiring an additional 74 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Texas Roadhouse by 3.6% during the 1st quarter. Blue Trust Inc. now owns 2,309 shares of the restaurant operator's stock worth $385,000 after purchasing an additional 80 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, CTO Hernan E. Mujica sold 2,189 shares of the business's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $172.40, for a total value of $377,383.60. Following the transaction, the chief technology officer owned 17,553 shares in the company, valued at $3,026,137.20. The trade was a 11.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gregory N. Moore sold 3,000 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $173.06, for a total transaction of $519,180.00. Following the completion of the transaction, the director owned 34,550 shares in the company, valued at $5,979,223. This represents a 7.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,342 shares of company stock worth $1,443,704. 0.50% of the stock is currently owned by corporate insiders.

Texas Roadhouse Price Performance

TXRH stock traded down $1.27 during midday trading on Tuesday, hitting $171.28. The stock had a trading volume of 1,399,913 shares, compared to its average volume of 1,125,092. The firm has a market cap of $11.38 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 2.36 and a beta of 0.84. The company's 50-day moving average price is $181.71 and its 200 day moving average price is $178.81. Texas Roadhouse, Inc. has a 12-month low of $148.73 and a 12-month high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.09). The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The firm's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.79 EPS. As a group, sell-side analysts anticipate that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.68 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.72 annualized dividend and a dividend yield of 1.6%. Texas Roadhouse's payout ratio is presently 41.53%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TXRH. Stephens raised their price objective on shares of Texas Roadhouse from $184.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Friday, August 8th. Melius Research raised shares of Texas Roadhouse to a "strong-buy" rating in a research note on Monday, July 14th. Melius began coverage on shares of Texas Roadhouse in a research note on Monday, July 14th. They set a "buy" rating and a $235.00 price objective for the company. Barclays raised their price objective on shares of Texas Roadhouse from $175.00 to $189.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Finally, Stifel Nicolaus raised their price objective on shares of Texas Roadhouse from $180.00 to $188.00 and gave the stock a "hold" rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $197.85.

Texas Roadhouse Profile

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.