Tenzing Global Management LLC Invests $3.33 Million in Texas Roadhouse, Inc. $TXRH

Key Points

• Tenzing Global Management LLC acquired a new stake in Texas Roadhouse, purchasing 20,000 shares valued at approximately $3.33 million, making it the firm’s 15th largest holding.
• The company announced a quarterly dividend of $0.68 per share, with an annualized yield of 1.6% and a dividend payout ratio of 41.53%.
• Texas Roadhouse reported its latest quarterly earnings, posting $1.86 EPS, which fell short of the consensus estimate of $1.95 EPS, despite a year-over-year revenue increase of 12.7%.

Tenzing Global Management LLC purchased a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,000 shares of the restaurant operator's stock, valued at approximately $3,333,000. Texas Roadhouse comprises 2.4% of Tenzing Global Management LLC's investment portfolio, making the stock its 15th biggest position.

Several other hedge funds have also recently modified their holdings of TXRH. Valeo Financial Advisors LLC increased its position in Texas Roadhouse by 2.3% during the first quarter. Valeo Financial Advisors LLC now owns 2,750 shares of the restaurant operator's stock valued at $458,000 after acquiring an additional 62 shares during the last quarter. Optas LLC boosted its stake in shares of Texas Roadhouse by 1.3% in the first quarter. Optas LLC now owns 5,217 shares of the restaurant operator's stock worth $869,000 after acquiring an additional 65 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Texas Roadhouse by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 13,627 shares of the restaurant operator's stock worth $2,271,000 after acquiring an additional 66 shares during the period. Smartleaf Asset Management LLC boosted its stake in Texas Roadhouse by 14.0% during the first quarter. Smartleaf Asset Management LLC now owns 601 shares of the restaurant operator's stock valued at $103,000 after buying an additional 74 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Texas Roadhouse by 3.6% during the first quarter. Blue Trust Inc. now owns 2,309 shares of the restaurant operator's stock valued at $385,000 after buying an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 94.82% of the company's stock.

Texas Roadhouse Stock Up 0.4%

NASDAQ:TXRH traded up $0.64 during midday trading on Tuesday, hitting $168.12. The stock had a trading volume of 1,284,464 shares, compared to its average volume of 1,025,557. Texas Roadhouse, Inc. has a one year low of $148.73 and a one year high of $206.04. The company has a market capitalization of $11.17 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 2.29 and a beta of 0.84. The stock has a 50-day moving average of $179.95 and a 200 day moving average of $178.68.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its quarterly earnings data 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). Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the company earned $1.79 EPS. The firm's revenue for the quarter 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 Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TXRH. Melius began coverage on Texas Roadhouse in a research report on Monday, July 14th. They set a "buy" rating and a $235.00 price objective on the stock. Melius Research upgraded Texas Roadhouse to a "strong-buy" rating in a report on Monday, July 14th. Guggenheim increased their price target on Texas Roadhouse from $200.00 to $210.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Citigroup increased their price target on Texas Roadhouse from $180.00 to $197.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Finally, Stifel Nicolaus increased their price target on Texas Roadhouse from $180.00 to $188.00 and gave the stock a "hold" rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, Texas Roadhouse currently has a consensus rating of "Moderate Buy" and a consensus price target of $197.35.

Insider Buying and Selling

In other Texas Roadhouse news, CTO Hernan E. Mujica sold 2,189 shares of the stock in a transaction 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 sale, the chief technology officer owned 17,553 shares of the company's stock, valued at approximately $3,026,137.20. This trade represents a 11.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Regina A. Tobin sold 3,153 shares of the firm's stock in a transaction 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 completion of the sale, the president directly owned 15,261 shares of the company's stock, valued at $2,648,241.33. The trade was a 17.12% 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 quarter. 0.50% of the stock is owned by corporate insiders.

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.