Park Presidio Capital LLC Buys Shares of 532,925 Texas Roadhouse, Inc. $TXRH

Key Points

• Park Presidio Capital LLC acquired 532,925 Texas Roadhouse shares worth approximately $103 million, representing about 0.81% of the company and 5.8% of the fund’s portfolio. Institutional investors collectively own 94.82% of TXRH.
• Texas Roadhouse reported quarterly revenue of $1.68 billion, up 11.1% year over year, and adjusted earnings of $1.85 per share, slightly exceeding analyst expectations. The company also declared a quarterly dividend of $0.75 per share, implying a 1.5% yield.
• Analyst sentiment is mixed, with 10 Buy ratings and 13 Hold ratings; the average price target is $208.48. TXRH recently traded at $205.29, while insiders sold $3.9 million worth of shares over the past 90 days.

Park Presidio Capital LLC purchased a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 532,925 shares of the restaurant operator's stock, valued at approximately $102,977,000. Texas Roadhouse comprises approximately 5.8% of Park Presidio Capital LLC's investment portfolio, making the stock its 12th largest holding. Park Presidio Capital LLC owned approximately 0.81% of Texas Roadhouse as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TXRH. BlackRock Inc. acquired a new stake in Texas Roadhouse in the second quarter valued at about $1,273,173,000. Balyasny Asset Management L.P. acquired a new position in Texas Roadhouse during the third quarter worth about $157,310,000. Wellington Management Group LLP raised its stake in Texas Roadhouse by 228.4% during the fourth quarter. Wellington Management Group LLP now owns 1,329,052 shares of the restaurant operator's stock worth $220,623,000 after acquiring an additional 924,306 shares in the last quarter. Norges Bank acquired a new position in Texas Roadhouse during the fourth quarter worth about $145,734,000. Finally, Steadfast Capital Management LP boosted its stake in shares of Texas Roadhouse by 99.2% in the 3rd quarter. Steadfast Capital Management LP now owns 1,275,648 shares of the restaurant operator's stock valued at $211,949,000 after purchasing an additional 635,178 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company's stock.

Insider Buying and Selling at Texas Roadhouse

In related news, General Counsel Sean G. Renfroe sold 426 shares of the business's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $192.53, for a total value of $82,017.78. Following the sale, the general counsel owned 860 shares of the company's stock, valued at $165,575.80. The trade was a 33.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Donna E. Epps sold 820 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $206.56, for a total value of $169,379.20. Following the completion of the sale, the director owned 4,042 shares of the company's stock, valued at $834,915.52. The trade was a 16.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 19,246 shares of company stock worth $3,908,907. Company insiders own 0.50% of the company's stock.

Texas Roadhouse Stock Performance

Texas Roadhouse stock opened at $205.29 on Tuesday. The business has a 50 day moving average of $196.02 and a 200-day moving average of $180.31. The company has a market capitalization of $13.48 billion, a P/E ratio of 32.85, a P/E/G ratio of 2.02 and a beta of 0.79. Texas Roadhouse, Inc. has a 1 year low of $153.82 and a 1 year high of $216.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.39.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its earnings results on Thursday, August 6th. The restaurant operator reported $1.85 EPS for the quarter, topping the consensus estimate of $1.83 by $0.02. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the company earned $1.86 EPS. The firm's revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 1st. Texas Roadhouse's payout ratio is 48.00%.

Analysts Set New Price Targets

TXRH has been the topic of several research reports. BTIG Research lifted their price target on shares of Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a report on Friday, August 7th. TD Cowen raised their target price on shares of Texas Roadhouse from $205.00 to $230.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Robert W. Baird set a $235.00 target price on shares of Texas Roadhouse in a research note on Friday, August 7th. Stifel Nicolaus upped their price target on shares of Texas Roadhouse from $170.00 to $180.00 and gave the stock a "hold" rating in a report on Tuesday, May 12th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $212.00 price target on shares of Texas Roadhouse in a report on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $208.48.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.

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