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

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

Texas Roadhouse Stock Down 0.4%

Shares of Texas Roadhouse stock traded down $0.65 during trading on Friday, reaching $166.51. The company's stock had a trading volume of 233,407 shares, compared to its average volume of 1,107,827. The business has a 50 day moving average price of $179.02 and a 200-day moving average price of $178.56. Texas Roadhouse, Inc. has a 12-month low of $148.73 and a 12-month high of $206.04. The company has a market capitalization of $11.06 billion, a P/E ratio of 25.47, a price-to-earnings-growth ratio of 2.27 and a beta of 0.84.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its earnings results on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.95 by ($0.09). The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the business posted $1.79 earnings per share. Research analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS 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. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.6%. Texas Roadhouse's dividend payout ratio (DPR) is presently 41.53%.

Insiders Place Their Bets

In other news, President Regina A. Tobin sold 3,153 shares of the firm'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 completion of the sale, the president directly owned 15,261 shares in the company, valued at $2,648,241.33. This trade represents a 17.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory N. Moore sold 3,000 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $173.06, for a total value of $519,180.00. Following the completion of the transaction, the director directly owned 34,550 shares in the company, valued at approximately $5,979,223. The trade was a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,342 shares of company stock valued at $1,443,704. Insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Stephens increased their price objective on shares of Texas Roadhouse from $184.00 to $190.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. Morgan Stanley upped their target price on shares of Texas Roadhouse from $200.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. The Goldman Sachs Group lifted their price target on Texas Roadhouse from $184.00 to $205.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Citigroup increased their target price on Texas Roadhouse from $180.00 to $197.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Texas Roadhouse in a research report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $197.35.

About Texas Roadhouse

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.