Texas Roadhouse, Inc. $TXRH Stock Sold by Alps Advisors Inc.

Key Points

• Alps Advisors reduced its Texas Roadhouse stake by 31.8% in the third quarter, selling 32,560 shares; it retained 69,801 shares valued at about $10.9 million.
• Third-quarter revenue rose 9.5% year over year to $1.57 billion, but earnings of $1.36 per share and revenue both missed analyst expectations. The company declared a quarterly dividend of $0.75 per share.
• Analysts hold a consensus “Moderate Buy” rating, with an average price target of $208.04; institutional investors own 94.82% of the stock.

Alps Advisors Inc. cut its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 31.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,801 shares of the restaurant operator's stock after selling 32,560 shares during the period. Alps Advisors Inc. owned 0.11% of Texas Roadhouse worth $10,913,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in TXRH. Basecamp Wealth Advisors LLC lifted its holdings in shares of Texas Roadhouse by 5,033.3% in the first quarter. Basecamp Wealth Advisors LLC now owns 154 shares of the restaurant operator's stock worth $25,000 after buying an additional 151 shares in the last quarter. Signature Equity Partners LLC grew its position in shares of Texas Roadhouse by 906.2% during the third quarter. Signature Equity Partners LLC now owns 161 shares of the restaurant operator's stock valued at $25,000 after purchasing an additional 145 shares in the last quarter. Silvant Capital Management LLC bought a new stake in shares of Texas Roadhouse in the second quarter worth about $32,000. Coppell Advisory Solutions LLC bought a new stake in shares of Texas Roadhouse in the second quarter worth about $38,000. Finally, Western Wealth Management LLC bought a new stake in shares of Texas Roadhouse in the first quarter worth about $47,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Mizuho lifted their price objective on Texas Roadhouse from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Friday, October 30th. BMO Capital Markets reiterated a "market perform" rating and set a $190.00 target price on shares of Texas Roadhouse in a research report on Friday. Evercore set a $220.00 target price on Texas Roadhouse in a research report on Friday, September 25th. KeyCorp reissued a "sector weight" rating on shares of Texas Roadhouse in a report on Friday, October 2nd. Finally, Robert W. Baird upgraded shares of Texas Roadhouse to a "strong-buy" rating in a research report on Monday, August 24th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $208.04.

Insider Buying and Selling

In related news, insider Lloyd Marshall sold 500 shares of the company's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $204.65, for a total transaction of $102,325.00. Following the transaction, the insider directly owned 9,826 shares of the company's stock, valued at $2,010,890.90. This represents a 4.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Hugh J. Carroll sold 650 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $203.99, for a total transaction of $132,593.50. Following the completion of the transaction, the director directly owned 2,883 shares of the company's stock, valued at $588,103.17. The trade was a 18.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,970 shares of company stock valued at $4,061,808 over the last three months. Corporate insiders own 0.50% of the company's stock.

More Texas Roadhouse News

Here are the key news stories impacting Texas Roadhouse this week:

• Positive Sentiment: Same-store sales increased 4.3% and revenue rose 9.5% year over year to $1.57 billion, showing continued growth. The company also declared a quarterly dividend of $0.75 per share. Third-quarter results and dividend announcement
• Neutral Sentiment: Analyst views were mixed: Bank of America and TD Cowen raised their targets, while Wells Fargo, RBC, Morgan Stanley, and BMO lowered theirs. Several firms nevertheless maintained positive ratings, and Citigroup raised its target while keeping a neutral rating. Morgan Stanley rating and target update
• Negative Sentiment: Adjusted earnings were $1.36 per share, below analysts’ roughly $1.46–$1.49 estimates, while revenue of $1.57 billion also narrowly missed expectations. Reports pointed to softer traffic, tempering the otherwise solid year-over-year sales growth. Q3 earnings and revenue miss

Texas Roadhouse Price Performance

Shares of TXRH stock opened at $183.88 on Friday. The stock has a 50 day moving average price of $172.73 and a 200 day moving average price of $179.06. Texas Roadhouse, Inc. has a 52-week low of $153.82 and a 52-week high of $216.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46. The firm has a market capitalization of $12.07 billion, a P/E ratio of 28.91, a P/E/G ratio of 1.99 and a beta of 0.81.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The restaurant operator reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.10). Texas Roadhouse had a net margin of 6.59% and a return on equity of 27.35%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the firm posted $1.25 EPS. The business's revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts predict that Texas Roadhouse, Inc. will post 6.40 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Tuesday, December 1st will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, December 1st. Texas Roadhouse's payout ratio is 48.00%.

About Texas Roadhouse

Texas Roadhouse, Inc operates and franchises casual dining restaurants under the Texas Roadhouse, Bubba's 33 and Jaggers brands. Its restaurants are known for a lively atmosphere and made-from-scratch food.

The Texas Roadhouse menu features hand-cut steaks, ribs, chicken, seafood and made-from-scratch sides, along with freshly baked bread. Bubba's 33 offers a sports-bar setting with items such as burgers, pizza and wings, while Jaggers focuses on burgers, chicken sandwiches and salads.

Founded in 1993 in Clarksville, Indiana, Texas Roadhouse is headquartered in Louisville, Kentucky.

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