Texas Roadhouse, Inc. $TXRH Holdings Raised by WCM Investment Management LLC

Key Points

• WCM Investment Management LLC increased its stake in Texas Roadhouse by 6.0%, owning approximately 96,155 shares worth $18,052,000, reflecting strong institutional interest in the company.
• Several analysts have adjusted their price targets for Texas Roadhouse; JPMorgan reduced their target from $200 to $182, while Bank of America raised it from $203 to $219, indicating a mixed outlook on the stock.
• Texas Roadhouse recently declared a quarterly dividend of $0.68, representing an annualized yield of 1.6%, with a dividend payout ratio of 41.53%.

WCM Investment Management LLC lifted its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 6.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,155 shares of the restaurant operator's stock after purchasing an additional 5,435 shares during the quarter. WCM Investment Management LLC owned about 0.14% of Texas Roadhouse worth $18,052,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brooklyn Investment Group raised its stake in shares of Texas Roadhouse by 478.6% during the first quarter. Brooklyn Investment Group now owns 162 shares of the restaurant operator's stock valued at $27,000 after purchasing an additional 134 shares in the last quarter. Bogart Wealth LLC bought a new stake in shares of Texas Roadhouse during the first quarter valued at about $33,000. Ameritas Advisory Services LLC bought a new stake in shares of Texas Roadhouse during the second quarter valued at about $53,000. WPG Advisers LLC acquired a new position in Texas Roadhouse during the first quarter worth about $59,000. Finally, Farther Finance Advisors LLC grew its holdings in Texas Roadhouse by 22.8% during the second quarter. Farther Finance Advisors LLC now owns 312 shares of the restaurant operator's stock worth $59,000 after acquiring an additional 58 shares during the period. 94.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CTO Hernan E. Mujica sold 2,189 shares of Texas Roadhouse stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $172.40, for a total value of $377,383.60. Following the transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, President Regina A. Tobin sold 3,153 shares of Texas Roadhouse stock in a transaction dated 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 transaction, the president directly owned 15,261 shares in the company, valued at $2,648,241.33. This represents a 17.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,342 shares of company stock valued at $1,443,704. 0.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on Texas Roadhouse from $200.00 to $182.00 and set a "neutral" rating on the stock in a report on Tuesday, October 7th. The Goldman Sachs Group lowered their target price on Texas Roadhouse from $200.00 to $180.00 and set a "neutral" rating on the stock in a report on Wednesday, October 1st. Stifel Nicolaus lifted their target price on Texas Roadhouse from $180.00 to $188.00 and gave the stock a "hold" rating in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Texas Roadhouse in a report on Tuesday, July 15th. Finally, Bank of America lifted their target price on Texas Roadhouse from $203.00 to $219.00 and gave the stock a "buy" rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $195.25.

Texas Roadhouse Trading Up 1.6%

Shares of TXRH opened at $172.53 on Thursday. The business's 50-day moving average price is $169.14 and its 200 day moving average price is $176.77. The stock has a market capitalization of $11.46 billion, a P/E ratio of 26.34, a P/E/G ratio of 2.51 and a beta of 0.82. 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 quarterly earnings results on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share 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 return on equity of 31.52% and a net margin of 7.72%.The company's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.79 EPS. On average, research analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were paid a $0.68 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.72 dividend on an annualized basis and a yield of 1.6%. Texas Roadhouse's dividend payout ratio (DPR) is currently 41.53%.

Texas Roadhouse 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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