Stony Point Capital LLC Grows Stock Position in Texas Roadhouse, Inc. $TXRH

Key Points

• Stony Point Capital LLC increased its stake in Texas Roadhouse by 52.5%, holding approximately $15.95 million worth of the stock, which makes it the firm's 26th largest position.
• Institutional investors currently own approximately 94.82% of Texas Roadhouse's shares, reflecting strong interest and investment in the company from major funds.
• Texas Roadhouse reported $1.51 billion in revenue for the last quarter, marking a 12.7% year-over-year increase, although earnings per share fell short of analyst expectations.

Stony Point Capital LLC lifted its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 52.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 95,701 shares of the restaurant operator's stock after purchasing an additional 32,955 shares during the quarter. Texas Roadhouse comprises approximately 1.6% of Stony Point Capital LLC's holdings, making the stock its 26th largest holding. Stony Point Capital LLC owned approximately 0.14% of Texas Roadhouse worth $15,947,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Brooklyn Investment Group grew its holdings in shares of Texas Roadhouse by 478.6% during the 1st quarter. Brooklyn Investment Group now owns 162 shares of the restaurant operator's stock worth $27,000 after purchasing an additional 134 shares during the period. Bogart Wealth LLC purchased a new position in Texas Roadhouse in the 1st quarter worth approximately $33,000. WPG Advisers LLC purchased a new position in Texas Roadhouse in the 1st quarter worth approximately $59,000. Park Place Capital Corp boosted its holdings in Texas Roadhouse by 459.1% in the 1st quarter. Park Place Capital Corp now owns 369 shares of the restaurant operator's stock worth $61,000 after acquiring an additional 303 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Texas Roadhouse by 41.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 379 shares of the restaurant operator's stock valued at $63,000 after buying an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 94.82% of the company's stock.

Insider Buying and Selling

In related news, CTO Hernan E. Mujica sold 2,189 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $172.40, for a total transaction of $377,383.60. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Regina A. Tobin sold 3,153 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $173.53, for a total value of $547,140.09. Following the sale, the president directly owned 15,261 shares of the company's stock, valued at $2,648,241.33. This represents a 17.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,342 shares of company stock worth $1,443,704 in the last ninety days. 0.50% of the stock is owned by insiders.

Texas Roadhouse Stock Performance

Texas Roadhouse stock traded down $1.27 during midday trading on Tuesday, reaching $171.28. The stock had a trading volume of 1,399,880 shares, compared to its average volume of 1,113,448. The firm's fifty day simple moving average is $182.06 and its 200-day simple moving average is $178.86. The stock has a market capitalization of $11.38 billion, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 2.36 and a beta of 0.84. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its earnings results on Thursday, August 7th. The restaurant operator reported $1.86 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.09). Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm posted $1.79 earnings per share. The business's revenue was up 12.7% compared to the same quarter last year. On average, sell-side 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 announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. Texas Roadhouse's dividend payout ratio is presently 41.53%.

Analyst Ratings Changes

TXRH has been the topic of several research reports. Bank of America upped their price target on Texas Roadhouse from $203.00 to $219.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Melius initiated coverage on Texas Roadhouse in a research report on Monday, July 14th. They issued a "buy" rating and a $235.00 target price on the stock. Stifel Nicolaus lifted their price objective on shares of Texas Roadhouse from $180.00 to $188.00 and gave the company a "hold" rating in a research note on Friday, July 25th. Melius Research raised Texas Roadhouse to a "strong-buy" rating in a report on Monday, July 14th. Finally, Truist Financial set a $212.00 target price on Texas Roadhouse and gave the stock a "buy" rating in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.