Oak Harvest Investment Services Acquires 11,852 Shares of Texas Roadhouse, Inc. $TXRH

Key Points

• Oak Harvest Investment Services increased its stake in Texas Roadhouse by 49.4% in Q1, now holding 35,854 shares valued at approximately $5.97 million.
• Several hedge funds have significantly boosted their holdings in Texas Roadhouse, including Axiom Investors, which raised its position by an extraordinary 3,696.7%.
• Texas Roadhouse announced a quarterly dividend of $0.68 per share, reflecting an annualized yield of 1.5%, to be paid on September 30th to stockholders of record on September 2nd.

Oak Harvest Investment Services grew its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 49.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,854 shares of the restaurant operator's stock after acquiring an additional 11,852 shares during the period. Oak Harvest Investment Services owned about 0.05% of Texas Roadhouse worth $5,974,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in TXRH. Brooklyn Investment Group lifted its position in shares of Texas Roadhouse by 478.6% in the first quarter. Brooklyn Investment Group now owns 162 shares of the restaurant operator's stock valued at $27,000 after acquiring an additional 134 shares in the last quarter. Bogart Wealth LLC purchased a new position in shares of Texas Roadhouse in the first quarter valued at about $33,000. Coppell Advisory Solutions LLC lifted its position in shares of Texas Roadhouse by 56.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator's stock valued at $35,000 after acquiring an additional 71 shares in the last quarter. Park Place Capital Corp lifted its position in shares of Texas Roadhouse by 459.1% in the first quarter. Park Place Capital Corp now owns 369 shares of the restaurant operator's stock valued at $61,000 after acquiring an additional 303 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of Texas Roadhouse by 41.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 379 shares of the restaurant operator's stock valued at $63,000 after acquiring an additional 112 shares in the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Texas Roadhouse Price Performance

Shares of TXRH stock traded down $2.04 during trading hours on Tuesday, hitting $174.72. The stock had a trading volume of 1,053,521 shares, compared to its average volume of 1,105,145. Texas Roadhouse, Inc. has a one year low of $148.73 and a one year high of $206.04. The stock's 50-day moving average price is $183.56 and its two-hundred day moving average price is $178.76. The stock has a market capitalization of $11.61 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 2.42 and a beta of 0.86.

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 for the quarter, missing the consensus estimate of $1.95 by ($0.09). Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm earned $1.79 earnings per share. The company's revenue was up 12.7% compared to the same quarter last year. As a group, equities research analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Roadhouse's payout ratio is presently 41.53%.

Insiders Place Their Bets

In other Texas Roadhouse 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 transaction of $519,180.00. Following the sale, the director directly 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 legal filing with the SEC, which is available through this link. Also, President Regina A. Tobin sold 3,153 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $173.53, for a total value of $547,140.09. Following the sale, the president directly owned 15,261 shares in the company, valued at $2,648,241.33. The trade was a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,342 shares of company stock valued at $1,443,704 over the last ninety days. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Bank of America boosted their price objective on Texas Roadhouse from $203.00 to $219.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Barclays boosted their price objective on Texas Roadhouse from $175.00 to $189.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Melius Research raised Texas Roadhouse to a "strong-buy" rating in a report on Monday, July 14th. Guggenheim lifted their target price on Texas Roadhouse from $200.00 to $210.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Citigroup lifted their target price on Texas Roadhouse from $180.00 to $197.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. One 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, the company presently has a consensus rating of "Moderate Buy" and an average 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.