Texas Roadhouse, Inc. $TXRH Shares Purchased by Oak Harvest Investment Services

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 lifted its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 49.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 0.05% of Texas Roadhouse worth $5,974,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Valeo Financial Advisors LLC raised its holdings in Texas Roadhouse by 2.3% in the first quarter. Valeo Financial Advisors LLC now owns 2,750 shares of the restaurant operator's stock valued at $458,000 after buying an additional 62 shares during the period. Optas LLC raised its holdings in Texas Roadhouse by 1.3% in the first quarter. Optas LLC now owns 5,217 shares of the restaurant operator's stock valued at $869,000 after buying an additional 65 shares during the period. Oregon Public Employees Retirement Fund grew its position in Texas Roadhouse by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 13,627 shares of the restaurant operator's stock valued at $2,271,000 after acquiring an additional 66 shares in the last quarter. Coppell Advisory Solutions LLC grew its position in 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. Finally, Smartleaf Asset Management LLC grew its position in Texas Roadhouse by 14.0% in the first quarter. Smartleaf Asset Management LLC now owns 601 shares of the restaurant operator's stock valued at $103,000 after acquiring an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on TXRH shares. Citigroup increased their price objective on shares of Texas Roadhouse from $180.00 to $197.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. The Goldman Sachs Group increased their price objective on shares of Texas Roadhouse from $184.00 to $205.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Stifel Nicolaus increased their price objective on shares of Texas Roadhouse from $180.00 to $188.00 and gave the company a "hold" rating in a research report on Friday, July 25th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Texas Roadhouse in a research report on Tuesday, July 15th. Finally, Melius Research raised shares of Texas Roadhouse to a "strong-buy" rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $197.85.

Texas Roadhouse Stock Performance

Shares of TXRH stock traded up $0.09 during mid-day trading on Friday, reaching $172.47. 330,586 shares of the company were exchanged, compared to its average volume of 1,108,310. Texas Roadhouse, Inc. has a fifty-two week low of $148.73 and a fifty-two week high of $206.04. The company has a market capitalization of $11.46 billion, a P/E ratio of 26.32, a P/E/G ratio of 2.39 and a beta of 0.86. The business's 50 day simple moving average is $182.79 and its 200 day simple moving average is $178.72.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly 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 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 analyst estimates of $1.50 billion. During the same period in the previous year, the business posted $1.79 EPS. The firm's quarterly revenue was up 12.7% compared to the same quarter last year. On average, analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Dividend Announcement

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 given a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.6%. Texas Roadhouse's dividend payout ratio (DPR) is presently 41.53%.

Insider Transactions at Texas Roadhouse

In other news, President Regina A. Tobin sold 3,153 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the president owned 15,261 shares of the company's stock, valued at approximately $2,648,241.33. This trade represents a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Hernan E. Mujica sold 2,189 shares of Texas Roadhouse stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $172.40, for a total transaction of $377,383.60. Following the completion of the transaction, the chief technology officer directly owned 17,553 shares of the company's stock, valued at approximately $3,026,137.20. This represents a 11.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,342 shares of company stock valued at $1,443,704. 0.50% of the stock is currently owned by corporate insiders.

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.