Texas Roadhouse, Inc. $TXRH Shares Bought by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P increased its stake in Texas Roadhouse by 16.2% during the first quarter, owning approximately $19.7 million worth of the stock at the end of the period.
• Texas Roadhouse reported a revenue increase of 12.7% year-over-year for the quarter, along with earnings per share of $1.86, missing analysts' estimates by $0.09.
• The company declared a quarterly dividend of $0.68 per share, representing a yield of 1.6%, with the payment scheduled for September 30th.

Martingale Asset Management L P increased its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 16.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,253 shares of the restaurant operator's stock after buying an additional 16,487 shares during the quarter. Martingale Asset Management L P owned about 0.18% of Texas Roadhouse worth $19,704,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Valeo Financial Advisors LLC grew its stake in shares of Texas Roadhouse by 2.3% in the first quarter. Valeo Financial Advisors LLC now owns 2,750 shares of the restaurant operator's stock worth $458,000 after purchasing an additional 62 shares in the last quarter. Optas LLC increased its stake in shares of Texas Roadhouse by 1.3% during the first quarter. Optas LLC now owns 5,217 shares of the restaurant operator's stock valued at $869,000 after acquiring an additional 65 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Texas Roadhouse by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 13,627 shares of the restaurant operator's stock worth $2,271,000 after purchasing an additional 66 shares in the last quarter. Coppell Advisory Solutions LLC raised its holdings in Texas Roadhouse by 56.8% during the fourth quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator's stock worth $35,000 after purchasing an additional 71 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Texas Roadhouse by 3.6% during the 1st quarter. Blue Trust Inc. now owns 2,309 shares of the restaurant operator's stock valued at $385,000 after purchasing an additional 80 shares in the last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TXRH. Morgan Stanley raised their target price on Texas Roadhouse from $200.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Bank of America boosted their target price on shares of Texas Roadhouse from $203.00 to $219.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Melius assumed coverage on shares of Texas Roadhouse in a report on Monday, July 14th. They set a "buy" rating and a $235.00 target price for the company. The Goldman Sachs Group lifted 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. Finally, UBS Group increased their price objective on Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $197.85.

Texas Roadhouse Trading Down 1.5%

Shares of Texas Roadhouse stock opened at $173.23 on Thursday. Texas Roadhouse, Inc. has a 1 year low of $148.73 and a 1 year high of $206.04. The company has a market cap of $11.51 billion, a P/E ratio of 26.45, a P/E/G ratio of 2.40 and a beta of 0.86. The stock has a 50-day moving average price of $184.64 and a 200 day moving average price of $178.89.

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

Texas Roadhouse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be paid 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 is Tuesday, September 2nd. Texas Roadhouse's dividend payout ratio is 41.53%.

Insider Activity

In related news, Director Gregory N. Moore sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $173.06, for a total value of $519,180.00. Following the transaction, the director directly owned 34,550 shares of the company's stock, valued at approximately $5,979,223. This trade represents a 7.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Donna E. Epps sold 800 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $186.52, for a total value of $149,216.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,953 shares of company stock valued at $1,215,536. 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.

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