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

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

Texas Roadhouse Stock Performance

Shares of NASDAQ TXRH traded down $1.55 during midday trading on Monday, hitting $165.14. 926,907 shares of the stock traded hands, compared to its average volume of 1,031,875. The company has a market cap of $10.97 billion, a PE ratio of 25.21, a P/E/G ratio of 2.28 and a beta of 0.84. Texas Roadhouse, Inc. has a one year low of $148.73 and a one year high of $206.04. The business has a 50 day moving average price of $178.17 and a two-hundred day moving average price of $178.40.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The restaurant operator reported $1.86 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.09). The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The company's revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.79 EPS. As a group, equities research analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.72 annualized dividend and a dividend yield of 1.6%. Texas Roadhouse's payout ratio is presently 41.53%.

Insider Activity at Texas Roadhouse

In related news, Director Gregory N. Moore sold 3,000 shares of Texas Roadhouse stock in a transaction that occurred 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 transaction, the director owned 34,550 shares of the company's stock, valued at $5,979,223. The trade was a 7.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Regina A. Tobin sold 3,153 shares of Texas Roadhouse stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $173.53, for a total value of $547,140.09. Following the transaction, the president directly 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 disclosure for this sale can be found here. Insiders have sold a total of 8,342 shares of company stock valued at $1,443,704 over the last 90 days. Insiders own 0.50% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on TXRH. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Texas Roadhouse in a research note on Tuesday, July 15th. Guggenheim lifted their price objective on Texas Roadhouse from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Truist Financial set a $212.00 target price on Texas Roadhouse and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Morgan Stanley lifted their target price on Texas Roadhouse from $200.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Finally, UBS Group lifted their target price on Texas Roadhouse from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Friday, June 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $197.35.

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.