Texas Roadhouse, Inc. (NASDAQ:TXRH) Shares Acquired by Ontario Teachers Pension Plan Board

Key Points

• Ontario Teachers Pension Plan Board has significantly increased its stake in Texas Roadhouse, acquiring an additional 7,119 shares for a total of 16,978 shares valued at approximately $2.83 million.
• Texas Roadhouse reported $1.70 earnings per share for the recent quarter, missing the analysts' expectations of $1.75, although revenue rose 11.8% year-over-year.
• The stock holds a consensus rating of "Moderate Buy" among analysts, with a price target averaging $196.85, reflecting optimism despite recent earnings misses.

Ontario Teachers Pension Plan Board increased its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 72.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,978 shares of the restaurant operator's stock after purchasing an additional 7,119 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Texas Roadhouse were worth $2,829,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Invesco Ltd. boosted its position in Texas Roadhouse by 5.9% during the 4th quarter. Invesco Ltd. now owns 2,479,323 shares of the restaurant operator's stock valued at $447,344,000 after purchasing an additional 138,675 shares during the period. FMR LLC lifted its stake in Texas Roadhouse by 44.8% in the fourth quarter. FMR LLC now owns 1,300,987 shares of the restaurant operator's stock valued at $234,737,000 after buying an additional 402,465 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of Texas Roadhouse by 1.3% during the first quarter. Westfield Capital Management Co. LP now owns 702,048 shares of the restaurant operator's stock valued at $116,982,000 after acquiring an additional 8,904 shares during the period. TD Asset Management Inc grew its position in shares of Texas Roadhouse by 49.1% during the first quarter. TD Asset Management Inc now owns 600,666 shares of the restaurant operator's stock worth $100,089,000 after acquiring an additional 197,939 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Texas Roadhouse by 22.7% during the fourth quarter. Northern Trust Corp now owns 594,406 shares of the restaurant operator's stock worth $107,249,000 after acquiring an additional 110,128 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company's stock.

Texas Roadhouse Stock Performance

TXRH opened at $184.39 on Thursday. The company has a market cap of $12.23 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 2.57 and a beta of 0.86. The stock has a 50-day moving average of $188.27 and a 200-day moving average of $179.26. Texas Roadhouse, Inc. has a 52-week low of $148.73 and a 52-week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The restaurant operator reported $1.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($0.05). The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.44 billion. Texas Roadhouse had a net margin of 7.89% and a return on equity of 32.33%. The firm's revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned $1.69 earnings per share. On average, research analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Analyst Ratings Changes

TXRH has been the topic of a number of research analyst reports. Guggenheim raised their price target on Texas Roadhouse from $200.00 to $210.00 and gave the company a "buy" rating in a report on Friday, July 11th. UBS Group raised their target price on shares of Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, June 6th. The Goldman Sachs Group boosted their price target on shares of Texas Roadhouse from $184.00 to $205.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Stephens reiterated an "equal weight" rating and issued a $170.00 price objective on shares of Texas Roadhouse in a report on Tuesday, June 10th. Finally, Melius started coverage on shares of Texas Roadhouse in a research note on Monday, July 14th. They set a "buy" rating and a $235.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $196.85.

Insider Buying and Selling at Texas Roadhouse

In other news, Director Donna E. Epps sold 800 shares of Texas Roadhouse stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $186.52, for a total transaction of $149,216.00. Following the sale, the director owned 4,632 shares of the company's stock, valued at approximately $863,960.64. This trade represents a 14.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory N. Moore sold 1,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $187.62, for a total value of $187,620.00. Following the sale, the director owned 38,050 shares in the company, valued at approximately $7,138,941. This represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.50% of the company's stock.

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.

Want to see what other hedge funds are holding TXRH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.