Prospector Partners LLC Purchases 11,376 Shares of Texas Roadhouse, Inc. $TXRH

Key Points

• Prospector Partners LLC increased its stake in Texas Roadhouse by 29.0%, acquiring an additional 11,376 shares, bringing its total ownership to approximately 50,537 shares valued at $8.42 million.
• Institutional investors now own 94.82% of Texas Roadhouse, with multiple funds, including Congress Asset Management and GAMMA Investing, significantly boosting their positions in the company.
• Texas Roadhouse recently announced a quarterly dividend of $0.68 per share, with a dividend yield of 1.6% and a payout ratio of 41.53%.

Prospector Partners LLC boosted its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 29.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,537 shares of the restaurant operator's stock after purchasing an additional 11,376 shares during the quarter. Prospector Partners LLC owned about 0.08% of Texas Roadhouse worth $8,421,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Congress Asset Management Co. increased its stake in shares of Texas Roadhouse by 8,956.4% in the 1st quarter. Congress Asset Management Co. now owns 465,679 shares of the restaurant operator's stock valued at $77,596,000 after acquiring an additional 460,537 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Texas Roadhouse by 255.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 520,352 shares of the restaurant operator's stock valued at $93,888,000 after acquiring an additional 373,812 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Texas Roadhouse by 19,250.9% in the 1st quarter. GAMMA Investing LLC now owns 325,095 shares of the restaurant operator's stock valued at $54,171,000 after acquiring an additional 323,415 shares during the last quarter. Nuveen LLC bought a new stake in shares of Texas Roadhouse in the 1st quarter valued at about $36,208,000. Finally, TD Asset Management Inc increased its stake in shares of Texas Roadhouse by 49.1% in the 1st quarter. TD Asset Management Inc now owns 600,666 shares of the restaurant operator's stock valued at $100,089,000 after acquiring an additional 197,939 shares during the last quarter. 94.82% of the stock is owned by institutional investors.

Insider Activity at Texas Roadhouse

In other news, Director Donna E. Epps sold 800 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $186.52, for a total value of $149,216.00. Following the completion of the sale, the director owned 4,632 shares of the company's stock, valued at approximately $863,960.64. This represents a 14.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.50% of the company's stock.

Texas Roadhouse Stock Down 0.0%

NASDAQ:TXRH opened at $172.84 on Monday. Texas Roadhouse, Inc. has a twelve month low of $148.73 and a twelve month high of $206.04. The business has a 50 day moving average price of $185.61 and a two-hundred day moving average price of $179.01. The company has a market cap of $11.49 billion, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 2.36 and a beta of 0.86.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released 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 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 quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.79 EPS. As a group, analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Stifel Nicolaus upped their price target on Texas Roadhouse from $180.00 to $188.00 and gave the company a "hold" rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Texas Roadhouse in a research report on Tuesday, July 15th. Morgan Stanley boosted their price objective on Texas Roadhouse from $200.00 to $205.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Guggenheim boosted their price objective on Texas Roadhouse from $200.00 to $210.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, Melius started coverage on Texas Roadhouse in a research report on Monday, July 14th. They issued a "buy" rating and a $235.00 price objective for the company. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $197.85.

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.

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