UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Holdings in Texas Roadhouse, Inc. $TXRH

Key Points

• UBS Asset Management increased its Texas Roadhouse stake by 81.1% in the second quarter, purchasing 97,968 additional shares and bringing its holdings to 218,773 shares valued at approximately $42.3 million.
• Texas Roadhouse beat quarterly earnings and revenue expectations, reporting $1.85 in EPS and $1.68 billion in revenue, with sales up 11.1% year over year. The company also declared a quarterly dividend of $0.75 per share.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $209.40, although company insiders sold about $4.14 million of stock over the past three months.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 81.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 218,773 shares of the restaurant operator's stock after purchasing an additional 97,968 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.33% of Texas Roadhouse worth $42,274,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Elyxium Wealth LLC purchased a new position in Texas Roadhouse during the fourth quarter valued at $25,000. Basecamp Wealth Advisors LLC grew its stake 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 acquiring an additional 151 shares during the last quarter. Silvant Capital Management LLC bought a new position in shares of Texas Roadhouse during the second quarter valued at $32,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Texas Roadhouse in the 3rd quarter worth about $33,000. Finally, Garton & Associates Financial Advisors LLC bought a new position in Texas Roadhouse in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 94.82% of the company's stock.

Texas Roadhouse Stock Performance

TXRH opened at $189.06 on Friday. The firm has a market cap of $12.41 billion, a P/E ratio of 30.25, a PEG ratio of 1.88 and a beta of 0.78. Texas Roadhouse, Inc. has a 1-year low of $153.82 and a 1-year high of $216.30. The company has a 50 day simple moving average of $198.79 and a two-hundred day simple moving average of $180.98. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.39.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.02. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the company posted $1.86 earnings per share. The business's quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts forecast that Texas Roadhouse, Inc. will post 6.64 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Texas Roadhouse from $170.00 to $180.00 and gave the company a "hold" rating in a research note on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $235.00 target price on shares of Texas Roadhouse in a research note on Monday, August 3rd. Barclays reduced their price target on shares of Texas Roadhouse from $188.00 to $175.00 and set an "equal weight" rating for the company in a research report on Friday, May 8th. Robert W. Baird upgraded Texas Roadhouse to a "strong-buy" rating in a research note on Monday, August 24th. Finally, Wells Fargo & Company lifted their target price on Texas Roadhouse from $220.00 to $230.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $209.40.

Insider Transactions at Texas Roadhouse

In other Texas Roadhouse news, Director Donna E. Epps sold 820 shares of Texas Roadhouse stock in a transaction on Monday, August 17th. The shares were sold at an average price of $206.56, for a total value of $169,379.20. Following the sale, the director directly owned 4,042 shares in the company, valued at approximately $834,915.52. The trade was a 16.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gerald L. Morgan sold 15,000 shares of the business's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $202.17, for a total transaction of $3,032,550.00. Following the completion of the sale, the chief executive officer owned 80,970 shares in the company, valued at approximately $16,369,704.90. The trade was a 15.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 20,396 shares of company stock valued at $4,143,825. 0.50% of the stock is owned by corporate insiders.

Texas Roadhouse Company Profile

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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