Panagora Asset Management Inc. Acquires 3,818 Shares of Texas Roadhouse, Inc. $TXRH

Key Points

• Panagora Asset Management Inc. increased its stake in Texas Roadhouse by 4.0%, owning 98,464 shares valued at approximately $16.41 million at the end of the first quarter.
• Texas Roadhouse reported a miss in EPS for the last quarter, with actual earnings of $1.86 against an expectation of $1.95, despite increasing revenue by 12.7% year-over-year.
• The company declared a quarterly dividend of $0.68 per share, with an annualized dividend yield of 1.6%, applicable for stockholders of record on September 2nd.

Panagora Asset Management Inc. boosted its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 4.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,464 shares of the restaurant operator's stock after purchasing an additional 3,818 shares during the period. Panagora Asset Management Inc. owned about 0.15% of Texas Roadhouse worth $16,407,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its holdings in shares of Texas Roadhouse by 157.3% during the first quarter. Golden State Wealth Management LLC now owns 4,658 shares of the restaurant operator's stock worth $776,000 after buying an additional 2,848 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Texas Roadhouse by 253.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 38,086 shares of the restaurant operator's stock worth $6,346,000 after buying an additional 27,312 shares in the last quarter. Brighton Jones LLC acquired a new stake in shares of Texas Roadhouse during the first quarter worth approximately $499,000. Running Oak Capital LLC increased its holdings in shares of Texas Roadhouse by 9.3% during the first quarter. Running Oak Capital LLC now owns 89,385 shares of the restaurant operator's stock worth $14,933,000 after buying an additional 7,628 shares in the last quarter. Finally, Monument Capital Management acquired a new stake in shares of Texas Roadhouse during the first quarter worth approximately $2,683,000. Institutional investors own 94.82% of the company's stock.

Insider Buying and Selling at Texas Roadhouse

In other news, CTO Hernan E. Mujica sold 2,189 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $172.40, for a total transaction of $377,383.60. Following the transaction, the chief technology officer directly owned 17,553 shares in the company, valued at $3,026,137.20. The trade was a 11.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Regina A. Tobin sold 3,153 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $173.53, for a total transaction of $547,140.09. Following the transaction, the president owned 15,261 shares in the company, valued at $2,648,241.33. This represents a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,342 shares of company stock worth $1,443,704. Insiders own 0.50% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on TXRH. The Goldman Sachs Group raised their price target on shares of Texas Roadhouse from $184.00 to $205.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Morgan Stanley raised their price target on shares of Texas Roadhouse from $200.00 to $205.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Barclays raised their price target on shares of Texas Roadhouse from $175.00 to $189.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Stifel Nicolaus lifted their target price on shares of Texas Roadhouse from $180.00 to $188.00 and gave the stock a "hold" rating in a report on Friday, July 25th. Finally, Guggenheim lifted their target price on shares of Texas Roadhouse from $200.00 to $210.00 and gave the stock a "buy" rating in a report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, Texas Roadhouse presently has a consensus rating of "Moderate Buy" and a consensus price target of $197.35.

Texas Roadhouse Price Performance

Shares of NASDAQ TXRH traded down $2.09 during midday trading on Thursday, reaching $169.49. 1,237,517 shares of the stock were exchanged, compared to its average volume of 1,110,937. The company has a market capitalization of $11.26 billion, a price-to-earnings ratio of 25.88, a P/E/G ratio of 2.36 and a beta of 0.84. Texas Roadhouse, Inc. has a 12 month low of $148.73 and a 12 month high of $206.04. The business has a 50-day simple moving average of $181.46 and a two-hundred day simple moving average of $178.76.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The restaurant operator reported $1.86 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.09). The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate 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 was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.79 earnings per share. Equities research analysts expect that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

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

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.