United Services Automobile Association Acquires Shares of 4,329 Texas Roadhouse, Inc. $TXRH

Key Points

• United Services Automobile Association acquired 4,329 shares of Texas Roadhouse, valued at approximately $740,000, becoming a significant institutional investor in the company.
• Texas Roadhouse recently reported Q2 earnings of $1.86 per share, missing analyst estimates of $1.95, but revenue increased by 12.7% year-over-year.
• The company announced a quarterly dividend of $0.68 per share, to be paid on September 30th, representing an annualized dividend of $2.72 with a yield of 1.6%.

United Services Automobile Association purchased a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,329 shares of the restaurant operator's stock, valued at approximately $740,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC grew its position in Texas Roadhouse by 2.3% during the first quarter. Valeo Financial Advisors LLC now owns 2,750 shares of the restaurant operator's stock valued at $458,000 after acquiring an additional 62 shares during the period. Optas LLC grew its position in Texas Roadhouse by 1.3% during the first quarter. Optas LLC now owns 5,217 shares of the restaurant operator's stock valued at $869,000 after acquiring an additional 65 shares during the period. Oregon Public Employees Retirement Fund grew its position in Texas Roadhouse by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 13,627 shares of the restaurant operator's stock valued at $2,271,000 after acquiring an additional 66 shares during the period. Smartleaf Asset Management LLC grew its position in Texas Roadhouse by 14.0% during the first quarter. Smartleaf Asset Management LLC now owns 601 shares of the restaurant operator's stock valued at $103,000 after acquiring an additional 74 shares during the period. Finally, Blue Trust Inc. grew its position in Texas Roadhouse by 3.6% during the first quarter. Blue Trust Inc. now owns 2,309 shares of the restaurant operator's stock valued at $385,000 after acquiring an additional 80 shares during the period. Hedge funds and other institutional investors own 94.82% of the company's stock.

Insider Activity at Texas Roadhouse

In related news, Director Gregory N. Moore sold 3,000 shares of the stock in a transaction dated 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 transaction, the director owned 34,550 shares of the company's stock, valued at approximately $5,979,223. This represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Regina A. Tobin sold 3,153 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $173.53, for a total value of $547,140.09. Following the sale, the president owned 15,261 shares in the company, valued at $2,648,241.33. The trade was a 17.12% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,342 shares of company stock valued at $1,443,704. Insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. UBS Group boosted their price target on Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Guggenheim boosted their price target on Texas Roadhouse from $200.00 to $210.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Barclays boosted their price target on Texas Roadhouse from $175.00 to $189.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. The Goldman Sachs Group upped their target price on Texas Roadhouse from $184.00 to $205.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Finally, Citigroup upped their target price on Texas Roadhouse from $180.00 to $197.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, Texas Roadhouse has a consensus rating of "Moderate Buy" and an average price target of $197.35.

Texas Roadhouse Price Performance

TXRH traded down $0.47 on Friday, reaching $166.69. The company's stock had a trading volume of 874,245 shares, compared to its average volume of 1,031,875. The stock has a market cap of $11.08 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 2.28 and a beta of 0.84. Texas Roadhouse, Inc. has a 1 year low of $148.73 and a 1 year high of $206.04. The business's 50 day moving average is $178.58 and its 200 day moving average is $178.53.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The restaurant operator reported $1.86 EPS for the quarter, missing analysts' consensus estimates of $1.95 by ($0.09). The business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.50 billion. Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The company's revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.79 EPS. As a group, research analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be issued 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 yield of 1.6%. Texas Roadhouse's dividend payout ratio is currently 41.53%.

Texas Roadhouse Profile

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.