Ieq Capital LLC Has $6.15 Million Position in Texas Roadhouse, Inc. $TXRH

Key Points

• Ieq Capital LLC increased its holdings in Texas Roadhouse shares by 268.7%, acquiring a total of 36,882 shares worth approximately $6.15 million.
• Texas Roadhouse reported earnings of $1.86 per share for the most recent quarter, missing estimates by $0.09, despite revenue rising 12.7% year over year to $1.51 billion.
• The firm declared a quarterly dividend of $0.68 per share, which will be paid on September 30th, reflecting a 1.6% dividend yield based on an annualized payout of $2.72.

Ieq Capital LLC boosted its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 268.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,882 shares of the restaurant operator's stock after buying an additional 26,880 shares during the quarter. Ieq Capital LLC owned approximately 0.06% of Texas Roadhouse worth $6,146,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Axiom Investors LLC DE increased its stake in shares of Texas Roadhouse by 3,696.7% in the first quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator's stock worth $362,221,000 after acquiring an additional 2,116,552 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Texas Roadhouse by 209.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,609,608 shares of the restaurant operator's stock valued at $268,209,000 after purchasing an additional 1,089,256 shares during the last quarter. Congress Asset Management Co. grew its stake in Texas Roadhouse by 8,956.4% in the first quarter. Congress Asset Management Co. now owns 465,679 shares of the restaurant operator's stock valued at $77,596,000 after purchasing an additional 460,537 shares in the last quarter. GAMMA Investing LLC increased its position in Texas Roadhouse by 19,250.9% in the 1st quarter. GAMMA Investing LLC now owns 325,095 shares of the restaurant operator's stock worth $54,171,000 after purchasing an additional 323,415 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Texas Roadhouse in the 1st quarter worth about $36,208,000. Institutional investors and hedge funds own 94.82% of the company's stock.

Texas Roadhouse Stock Performance

Shares of Texas Roadhouse stock traded up $0.17 on Monday, reaching $172.55. The stock had a trading volume of 871,232 shares, compared to its average volume of 1,159,016. The business's 50-day moving average price is $182.38 and its two-hundred day moving average price is $178.86. The stock has a market cap of $11.47 billion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 2.36 and a beta of 0.84. Texas Roadhouse, Inc. has a fifty-two week low of $148.73 and a fifty-two week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted 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 firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The business's quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.79 earnings per share. As a group, equities analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

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

Insider Activity at Texas Roadhouse

In other news, CTO Hernan E. Mujica sold 2,189 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $172.40, for a total value of $377,383.60. Following the completion of the sale, the chief technology officer directly owned 17,553 shares of the company's stock, valued at approximately $3,026,137.20. This represents a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory N. Moore sold 3,000 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $173.06, for a total transaction of $519,180.00. Following the completion of the sale, the director owned 34,550 shares in the company, valued at approximately $5,979,223. The trade was a 7.99% 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 90 days. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Melius Research upgraded Texas Roadhouse to a "strong-buy" rating in a report on Monday, July 14th. Melius started coverage on shares of Texas Roadhouse in a research note on Monday, July 14th. They issued a "buy" rating and a $235.00 target price for the company. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Texas Roadhouse in a research report on Tuesday, July 15th. Citigroup raised their price target on shares of Texas Roadhouse from $180.00 to $197.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Finally, Barclays lifted their price objective on shares of Texas Roadhouse from $175.00 to $189.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, Texas Roadhouse has a consensus rating of "Moderate Buy" and a consensus price target of $197.85.

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.