UBS Group AG Purchases 522,509 Shares of Texas Roadhouse, Inc. $TXRH

Key Points

• UBS Group AG increased its Texas Roadhouse stake by 60.4% in Q4, buying 522,509 shares to hold 1,387,454 shares (about 2.10%) valued at roughly $230.3 million.
• Texas Roadhouse missed quarterly estimates, reporting $1.28 EPS vs. $1.53 expected and $1.48B revenue vs. $1.50B, with year‑ago EPS of $1.73 and analysts projecting about 6.35 EPS for the current year.
• The company raised its quarterly dividend to $0.75 (annualized $3.00, ~1.9% yield) while insiders sold shares recently and institutional investors now own ~94.8% of the stock.

UBS Group AG boosted its position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 60.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,387,454 shares of the restaurant operator's stock after buying an additional 522,509 shares during the quarter. UBS Group AG owned approximately 2.10% of Texas Roadhouse worth $230,317,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of TXRH. Alliancebernstein L.P. raised its holdings in shares of Texas Roadhouse by 14.7% in the third quarter. Alliancebernstein L.P. now owns 3,638,914 shares of the restaurant operator's stock valued at $604,606,000 after purchasing an additional 466,176 shares during the last quarter. Capital World Investors boosted its holdings in Texas Roadhouse by 580.2% during the third quarter. Capital World Investors now owns 2,236,885 shares of the restaurant operator's stock worth $371,658,000 after purchasing an additional 1,908,033 shares during the last quarter. Steadfast Capital Management LP grew its position in Texas Roadhouse by 99.2% in the third quarter. Steadfast Capital Management LP now owns 1,275,648 shares of the restaurant operator's stock valued at $211,949,000 after purchasing an additional 635,178 shares in the last quarter. Victory Capital Management Inc. grew its position in Texas Roadhouse by 770.6% in the third quarter. Victory Capital Management Inc. now owns 972,251 shares of the restaurant operator's stock valued at $161,540,000 after purchasing an additional 860,571 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in Texas Roadhouse in the 3rd quarter valued at $157,310,000. Institutional investors own 94.82% of the company's stock.

Texas Roadhouse Stock Up 0.3%

TXRH opened at $158.27 on Wednesday. Texas Roadhouse, Inc. has a 12-month low of $156.00 and a 12-month high of $199.99. The business has a 50 day moving average of $169.02 and a 200-day moving average of $173.12. The stock has a market cap of $10.43 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 1.80 and a beta of 0.88.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its earnings results on Thursday, February 19th. The restaurant operator reported $1.28 earnings per share for the quarter, missing analysts' consensus estimates of $1.53 by ($0.25). Texas Roadhouse had a return on equity of 27.88% and a net margin of 6.90%.The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the firm posted $1.73 earnings per share. The firm's revenue was up 3.1% compared to the same quarter last year. As a group, analysts expect that Texas Roadhouse, Inc. will post 6.35 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were given a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This is a boost from Texas Roadhouse's previous quarterly dividend of $0.68. This represents a $3.00 annualized dividend and a dividend yield of 1.9%. Texas Roadhouse's payout ratio is currently 49.26%.

Insider Activity at Texas Roadhouse

In related news, CTO Hernan E. Mujica sold 5,000 shares of Texas Roadhouse stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $170.00, for a total transaction of $850,000.00. Following the completion of the sale, the chief technology officer owned 15,552 shares of the company's stock, valued at approximately $2,643,840. The trade was a 24.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Hugh J. Carroll sold 988 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $170.96, for a total transaction of $168,908.48. Following the sale, the director owned 866 shares in the company, valued at $148,051.36. The trade was a 53.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,988 shares of company stock worth $2,218,144 in the last quarter. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TXRH shares. KeyCorp restated a "sector weight" rating on shares of Texas Roadhouse in a report on Friday, February 20th. TD Cowen began coverage on Texas Roadhouse in a research note on Tuesday, January 20th. They issued a "buy" rating and a $215.00 price target for the company. Deutsche Bank Aktiengesellschaft set a $195.00 price objective on Texas Roadhouse in a research note on Wednesday, April 15th. BMO Capital Markets restated a "market perform" rating and set a $165.00 target price on shares of Texas Roadhouse in a report on Friday, February 20th. Finally, Citigroup cut their price target on shares of Texas Roadhouse from $184.00 to $176.00 and set a "neutral" rating for the company in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and thirteen have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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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