Amundi Purchases 76,031 Shares of Texas Roadhouse, Inc. $TXRH

Key Points

• Amundi Investment Surge: Amundi increased its stake in Texas Roadhouse by an impressive 2,865.8%, acquiring over 76,000 additional shares, bringing its total ownership to approximately $13.1 million.
• Quarterly Earnings Results: Texas Roadhouse reported earnings of $1.86 per share for the last quarter, falling short of analysts' expectations of $1.95, while revenue was marginally above estimates at $1.51 billion.
• Dividend Declaration: The company declared a quarterly dividend of $0.68, set to be paid on September 30th, indicating an annualized yield of 1.6%.

Amundi raised its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 2,865.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,684 shares of the restaurant operator's stock after purchasing an additional 76,031 shares during the quarter. Amundi owned 0.12% of Texas Roadhouse worth $13,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its holdings in shares of Texas Roadhouse by 157.3% in the 1st quarter. Golden State Wealth Management LLC now owns 4,658 shares of the restaurant operator's stock worth $776,000 after acquiring an additional 2,848 shares during the last quarter. Axiom Investors LLC DE lifted its holdings in shares of Texas Roadhouse by 3,696.7% in the 1st 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. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Texas Roadhouse by 253.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 38,086 shares of the restaurant operator's stock worth $6,346,000 after acquiring an additional 27,312 shares during the last quarter. Brighton Jones LLC bought a new stake in shares of Texas Roadhouse in the 1st quarter worth approximately $499,000. Finally, Night Squared LP bought a new stake in shares of Texas Roadhouse in the 1st quarter worth approximately $6,461,000. 94.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on TXRH. Stifel Nicolaus lifted their target price on shares of Texas Roadhouse from $180.00 to $188.00 and gave the stock a "hold" rating in a research note on Friday, July 25th. Melius began 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 on the stock. Evercore ISI downgraded shares of Texas Roadhouse from an "outperform" rating to an "in-line" rating and set a $190.00 target price on the stock. in a research note on Thursday, September 4th. Citigroup lifted their target price on shares of Texas Roadhouse from $180.00 to $197.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Finally, Morgan Stanley lifted their target price on shares of Texas Roadhouse from $200.00 to $205.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $197.35.

Insider Activity

In other news, President Regina A. Tobin sold 3,153 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $173.53, for a total transaction of $547,140.09. Following the sale, the president owned 15,261 shares in the company, valued at approximately $2,648,241.33. The trade was a 17.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Hernan E. Mujica sold 2,189 shares of the business's stock in a transaction on Thursday, August 21st. The shares were 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 in the company, valued at approximately $3,026,137.20. This trade represents a 11.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,342 shares of company stock worth $1,443,704. Corporate insiders own 0.50% of the company's stock.

Texas Roadhouse Price Performance

Texas Roadhouse stock traded down $0.47 during mid-day trading on Friday, reaching $166.69. 874,245 shares of the company traded hands, compared to its average volume of 1,022,103. The firm's 50 day moving average price is $178.58 and its 200 day moving average price is $178.51. The firm has a market capitalization of $11.08 billion, a price-to-earnings ratio of 25.45, a P/E/G ratio of 2.28 and a beta of 0.84. 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 issued its quarterly earnings data 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). Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The company had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.50 billion. During the same period in the previous year, the firm posted $1.79 earnings per share. 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 EPS for the current year.

Texas Roadhouse Announces Dividend

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

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.