Martingale Asset Management L P Purchases 16,487 Shares of Texas Roadhouse, Inc. $TXRH

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 lifted its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 16.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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.

Other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC raised its holdings in shares of Texas Roadhouse by 157.3% in the first quarter. Golden State Wealth Management LLC now owns 4,658 shares of the restaurant operator's stock valued at $776,000 after buying an additional 2,848 shares during the last quarter. Comerica Bank increased its position in Texas Roadhouse by 16.0% in the fourth quarter. Comerica Bank now owns 132,914 shares of the restaurant operator's stock worth $23,982,000 after purchasing an additional 18,339 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Texas Roadhouse by 253.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 38,086 shares of the restaurant operator's stock worth $6,346,000 after purchasing an additional 27,312 shares during the period. Brighton Jones LLC acquired a new stake in Texas Roadhouse in the first quarter worth about $499,000. Finally, Running Oak Capital LLC increased its position in Texas Roadhouse by 9.3% in the first quarter. Running Oak Capital LLC now owns 89,385 shares of the restaurant operator's stock worth $14,933,000 after purchasing an additional 7,628 shares during the period. 94.82% of the stock is owned by institutional investors.

Texas Roadhouse Price Performance

Shares of Texas Roadhouse stock traded down $0.95 during trading on Tuesday, hitting $175.81. 348,648 shares of the company were exchanged, compared to its average volume of 1,108,423. The firm has a market capitalization of $11.68 billion, a P/E ratio of 26.84, a price-to-earnings-growth ratio of 2.42 and a beta of 0.86. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $206.04. The firm's fifty day moving average price is $183.96 and its 200 day moving average price is $178.79.

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 the consensus estimate 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 firm posted $1.79 earnings per share. Texas Roadhouse's revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

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 $0.68 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.72 annualized dividend and a dividend yield of 1.5%. Texas Roadhouse's payout ratio is currently 41.53%.

Insider Activity at Texas Roadhouse

In related news, Director Gregory N. Moore sold 3,000 shares of the business'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 completion of the transaction, the director directly owned 34,550 shares in the company, valued at approximately $5,979,223. The trade was a 7.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Hernan E. Mujica sold 2,189 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $172.40, for a total value of $377,383.60. Following the completion of the transaction, the chief technology officer owned 17,553 shares of the company's stock, valued at $3,026,137.20. This represents a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,342 shares of company stock worth $1,443,704. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on TXRH shares. Truist Financial set a $212.00 price objective on Texas Roadhouse and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. UBS Group lifted their price objective on Texas Roadhouse from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Morgan Stanley lifted their price objective on Texas Roadhouse from $200.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Bank of America lifted their price objective on Texas Roadhouse from $203.00 to $219.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Texas Roadhouse in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Texas Roadhouse presently has an average rating of "Moderate Buy" and a consensus price target of $197.85.

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.