Texas Roadhouse, Inc. $TXRH Shares Sold by Strs Ohio

Key Points

• Strs Ohio trimmed its stake in Texas Roadhouse by 31.1% in Q4, selling 6,497 shares and leaving 14,386 shares worth $2.39 million; institutional investors now own about 94.82% of the stock.
• Company insiders have been sellers—President Regina A. Tobin sold 4,450 shares on March 19, and insiders sold a total of 12,988 shares worth $2.22 million over the past 90 days, leaving insiders with roughly 0.5% ownership.
• Operational and market snapshot: Texas Roadhouse missed quarterly EPS ($1.28 vs. $1.53 est.) and revenue ($1.48B vs. $1.50B) but raised its quarterly dividend to $0.75 (annualized $3.00, yield 1.9%); analysts hold a consensus "Moderate Buy" with a $195.14 target.

Strs Ohio lowered its position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 31.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,386 shares of the restaurant operator's stock after selling 6,497 shares during the quarter. Strs Ohio's holdings in Texas Roadhouse were worth $2,388,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital World Investors boosted its holdings in Texas Roadhouse by 580.2% in the 3rd quarter. Capital World Investors now owns 2,236,885 shares of the restaurant operator's stock valued at $371,658,000 after purchasing an additional 1,908,033 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Texas Roadhouse during the 3rd quarter worth approximately $157,310,000. Victory Capital Management Inc. raised its position in shares of Texas Roadhouse by 770.6% during the 3rd quarter. Victory Capital Management Inc. now owns 972,251 shares of the restaurant operator's stock valued at $161,540,000 after buying an additional 860,571 shares during the period. Steadfast Capital Management LP raised its position in shares of Texas Roadhouse by 99.2% during the 3rd quarter. Steadfast Capital Management LP now owns 1,275,648 shares of the restaurant operator's stock valued at $211,949,000 after buying an additional 635,178 shares during the period. Finally, UBS Group AG lifted its holdings in Texas Roadhouse by 60.4% in the fourth quarter. UBS Group AG now owns 1,387,454 shares of the restaurant operator's stock valued at $230,317,000 after acquiring an additional 522,509 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, President Regina A. Tobin sold 4,450 shares of Texas Roadhouse stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $171.00, for a total value of $760,950.00. Following the completion of the transaction, the president owned 13,778 shares in the company, valued at approximately $2,356,038. The trade was a 24.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Donna E. Epps sold 850 shares of the company's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $172.45, for a total transaction of $146,582.50. Following the sale, the director directly owned 4,892 shares in the company, valued at approximately $843,625.40. The trade was a 14.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 12,988 shares of company stock worth $2,218,144 over the last 90 days. 0.50% of the stock is owned by insiders.

Texas Roadhouse Stock Up 1.4%

Shares of NASDAQ TXRH opened at $158.03 on Wednesday. The business's 50 day moving average is $167.63 and its two-hundred day moving average is $172.87. Texas Roadhouse, Inc. has a 52-week low of $153.82 and a 52-week high of $199.99. The firm has a market cap of $10.42 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 1.78 and a beta of 0.77.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The restaurant operator reported $1.28 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.25). The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.50 billion. Texas Roadhouse had a return on equity of 27.88% and a net margin of 6.90%.The company's quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 earnings per share. Analysts anticipate that Texas Roadhouse, Inc. will post 6.33 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were issued a dividend of $0.75 per share. This is a positive change from Texas Roadhouse's previous quarterly dividend of $0.68. The ex-dividend date was Tuesday, March 17th. This represents a $3.00 dividend on an annualized basis and a yield of 1.9%. Texas Roadhouse's dividend payout ratio (DPR) is 49.26%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. The Goldman Sachs Group increased their price objective on Texas Roadhouse from $175.00 to $200.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 28th. KeyCorp reaffirmed a "sector weight" rating on shares of Texas Roadhouse in a research note on Friday, February 20th. TD Cowen initiated coverage on Texas Roadhouse in a report on Tuesday, January 20th. They set a "buy" rating and a $215.00 price target for the company. Truist Financial reduced their price objective on shares of Texas Roadhouse from $188.00 to $186.00 and set a "hold" rating on the stock in a report on Friday, February 20th. Finally, Wall Street Zen cut shares of Texas Roadhouse from a "hold" rating to a "sell" rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $195.14.

About Texas Roadhouse

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.

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