Pallas Capital Advisors LLC Buys 8,805 Shares of Texas Roadhouse, Inc. $TXRH

Key Points

• Pallas Capital Advisors LLC increased its stake in Texas Roadhouse, Inc. by 89.2%, acquiring an additional 8,805 shares, bringing their total holdings to approximately $3.5 million.
• Texas Roadhouse reported earnings of $1.86 per share for the last quarter, which missed analysts' estimates, despite a year-over-year revenue increase of 12.7%.
• The company declared a quarterly dividend of $0.68 per share, with a yield of 1.6%, scheduled for payment on September 30th.

Pallas Capital Advisors LLC increased its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 89.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,675 shares of the restaurant operator's stock after acquiring an additional 8,805 shares during the quarter. Pallas Capital Advisors LLC's holdings in Texas Roadhouse were worth $3,500,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of TXRH. Axiom Investors LLC DE lifted its stake in shares of Texas Roadhouse by 3,696.7% in the first quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator's stock worth $362,221,000 after acquiring an additional 2,116,552 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Texas Roadhouse by 209.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,609,608 shares of the restaurant operator's stock worth $268,209,000 after acquiring an additional 1,089,256 shares in the last quarter. Congress Asset Management Co. lifted its stake in shares of Texas Roadhouse by 8,956.4% in the first quarter. Congress Asset Management Co. now owns 465,679 shares of the restaurant operator's stock worth $77,596,000 after acquiring an additional 460,537 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Texas Roadhouse by 54.3% in the first quarter. AQR Capital Management LLC now owns 1,261,587 shares of the restaurant operator's stock worth $209,840,000 after acquiring an additional 443,767 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Texas Roadhouse by 19,250.9% during the first quarter. GAMMA Investing LLC now owns 325,095 shares of the restaurant operator's stock valued at $54,171,000 after buying an additional 323,415 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company's stock.

Insider Buying and Selling

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

Texas Roadhouse Stock Performance

Shares of NASDAQ:TXRH traded down $1.54 during midday trading on Friday, hitting $158.24. The company's stock had a trading volume of 2,096,979 shares, compared to its average volume of 1,119,038. The stock has a market capitalization of $10.52 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 2.25 and a beta of 0.84. The stock's 50 day simple moving average is $176.14 and its 200 day simple moving average is $177.88. Texas Roadhouse, Inc. has a fifty-two week low of $148.73 and a fifty-two week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.09). The business 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 company's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.79 earnings per share. As a group, analysts anticipate that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. Texas Roadhouse's dividend payout ratio (DPR) is 41.53%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. The Goldman Sachs Group upped their price objective on Texas Roadhouse from $184.00 to $205.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Stifel Nicolaus upped their target price on Texas Roadhouse from $180.00 to $188.00 and gave the company a "hold" rating in a report on Friday, July 25th. Guggenheim reaffirmed a "buy" rating and set a $210.00 target price on shares of Texas Roadhouse in a report on Tuesday. Morgan Stanley upped their target price on Texas Roadhouse from $200.00 to $205.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Finally, Melius Research upgraded shares of Texas Roadhouse to a "strong-buy" rating in a research report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $197.35.

Texas Roadhouse Company 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.