Texas Roadhouse, Inc. $TXRH Shares Bought by Trexquant Investment LP

Key Points

• Trexquant Investment LP increased its holdings in Texas Roadhouse, Inc. by 131.8% in the first quarter, now owning approximately 0.24% of the company's stock valued at $27.1 million.
• Several analysts have raised their price targets for Texas Roadhouse, with UBS Group setting a new target of $220.00 and maintaining a "buy" rating.
• The company declared a quarterly dividend of $0.68 per share, representing a yield of 1.6%, with a payout ratio of 41.53%.

Trexquant Investment LP raised its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 131.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 162,662 shares of the restaurant operator's stock after buying an additional 92,495 shares during the quarter. Trexquant Investment LP owned about 0.24% of Texas Roadhouse worth $27,104,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TXRH. Axiom Investors LLC DE raised its stake in shares of Texas Roadhouse by 3,696.7% in the first quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator's stock worth $362,221,000 after purchasing an additional 2,116,552 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Texas Roadhouse by 209.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,609,608 shares of the restaurant operator's stock worth $268,209,000 after purchasing an additional 1,089,256 shares during the last quarter. Congress Asset Management Co. raised its stake in shares of Texas Roadhouse by 8,956.4% in the first quarter. Congress Asset Management Co. now owns 465,679 shares of the restaurant operator's stock worth $77,596,000 after purchasing an additional 460,537 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Texas Roadhouse by 19,250.9% in the first quarter. GAMMA Investing LLC now owns 325,095 shares of the restaurant operator's stock worth $54,171,000 after purchasing an additional 323,415 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Texas Roadhouse in the first quarter worth about $36,208,000. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TXRH has been the subject of several research analyst reports. Melius initiated coverage on Texas Roadhouse in a research note on Monday, July 14th. They issued a "buy" rating and a $235.00 price objective for the company. Barclays raised their price objective on Texas Roadhouse from $175.00 to $189.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Melius Research raised Texas Roadhouse to a "strong-buy" rating in a report on Monday, July 14th. Citigroup raised 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. Finally, Bank of America raised their target price on Texas Roadhouse from $203.00 to $219.00 and gave the stock a "buy" rating in a report on Friday, July 18th. One research 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 stock. Based on data from MarketBeat, Texas Roadhouse has a consensus rating of "Moderate Buy" and an average target price of $197.85.

Texas Roadhouse Trading Up 0.1%

TXRH traded up $0.17 during trading on Monday, hitting $172.55. The company's stock had a trading volume of 871,232 shares, compared to its average volume of 1,159,016. Texas Roadhouse, Inc. has a twelve month low of $148.73 and a twelve month high of $206.04. The business's fifty day simple moving average is $182.38 and its 200 day simple moving average is $178.86. The firm has a market capitalization of $11.47 billion, a price-to-earnings ratio of 26.34, a P/E/G ratio of 2.36 and a beta of 0.84.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The restaurant operator reported $1.86 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 period in the previous year, the business posted $1.79 earnings per share. The firm's revenue for the quarter was up 12.7% on a year-over-year basis. As a group, equities research analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be paid a $0.68 dividend. 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 payout ratio is currently 41.53%.

Insider Transactions at Texas Roadhouse

In other news, President Regina A. Tobin sold 3,153 shares of Texas Roadhouse 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 of the company's stock, valued at $2,648,241.33. The trade was a 17.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gregory N. Moore sold 3,000 shares of Texas Roadhouse 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 sale, the director directly owned 34,550 shares in the company, valued at $5,979,223. This represents a 7.99% 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. Insiders own 0.50% of the company's stock.

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.