Verition Fund Management LLC Boosts Stock Position in Texas Roadhouse, Inc. $TXRH

Key Points

• Verition Fund Management increased its Texas Roadhouse stake by 390.9% in the fourth quarter, ending with 87,914 shares worth about $14.6 million.
• Texas Roadhouse reported better-than-expected earnings of $1.87 per share, though revenue of $1.63 billion came in slightly below estimates; quarterly revenue still rose 10.5% year over year.
• The company declared a quarterly dividend of $0.75 per share and saw recent insider selling, while analysts currently rate the stock a consensus “Hold” with a $196.36 target price.

Verition Fund Management LLC lifted its position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 390.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 87,914 shares of the restaurant operator's stock after purchasing an additional 70,007 shares during the quarter. Verition Fund Management LLC owned 0.13% of Texas Roadhouse worth $14,594,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Elyxium Wealth LLC purchased a new position in shares of Texas Roadhouse in the 4th quarter worth about $25,000. Princeton Global Asset Management LLC purchased a new position in shares of Texas Roadhouse in the 4th quarter worth about $31,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Texas Roadhouse in the 3rd quarter worth about $33,000. TD Private Client Wealth LLC boosted its holdings in shares of Texas Roadhouse by 137.5% in the 4th quarter. TD Private Client Wealth LLC now owns 266 shares of the restaurant operator's stock worth $44,000 after purchasing an additional 154 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Texas Roadhouse in the 4th quarter worth about $48,000. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TXRH shares. Guggenheim reaffirmed a "buy" rating and set a $210.00 target price on shares of Texas Roadhouse in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $200.00 price target on shares of Texas Roadhouse in a research note on Friday, May 8th. Citigroup cut their price target on shares of Texas Roadhouse from $176.00 to $174.00 and set a "neutral" rating for the company in a research report on Friday, May 8th. Royal Bank Of Canada upgraded shares of Texas Roadhouse from a "sector perform" rating to an "outperform" rating and upped their price target for the company from $180.00 to $210.00 in a research report on Friday, May 15th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Texas Roadhouse in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $196.36.

Texas Roadhouse Trading Down 0.2%

Shares of TXRH stock opened at $167.54 on Tuesday. The stock has a market capitalization of $11.01 billion, a PE ratio of 26.76, a P/E/G ratio of 1.84 and a beta of 0.79. Texas Roadhouse, Inc. has a 1-year low of $153.82 and a 1-year high of $197.00. The business has a 50-day moving average of $168.42 and a 200 day moving average of $173.61. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.40.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its earnings results on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.07. The company had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.64 billion. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.Texas Roadhouse's quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.70 EPS. As a group, sell-side analysts anticipate that Texas Roadhouse, Inc. will post 6.4 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 2nd will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $3.00 dividend on an annualized basis and a yield of 1.8%. Texas Roadhouse's dividend payout ratio is presently 47.92%.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, Director Gregory N. Moore sold 1,250 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $178.14, for a total transaction of $222,675.00. Following the completion of the transaction, the director owned 30,900 shares of the company's stock, valued at $5,504,526. This represents a 3.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Lloyd Paul Marshall sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $178.34, for a total value of $178,340.00. Following the transaction, the insider directly owned 10,326 shares of the company's stock, valued at $1,841,538.84. The trade was a 8.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 10,178 shares of company stock worth $1,794,797 over the last three months. 0.50% of the stock is owned by corporate insiders.

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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