waypoint wealth counsel Acquires New Position in Texas Roadhouse, Inc. $TXRH

Key Points

• Waypoint Wealth Counsel acquired a new stake in Texas Roadhouse, purchasing 1,754 shares valued at approximately $329,000 in the second quarter.
• Texas Roadhouse reported a decrease in earnings per share to $1.86 for the recent quarter, missing the consensus estimate of $1.95 by $0.09, but achieved a revenue of $1.51 billion, slightly above analyst expectations.
• The company announced a quarterly dividend of $0.68 per share with a yield of 1.7%, reflecting a payout ratio of 41.53%.

waypoint wealth counsel acquired a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,754 shares of the restaurant operator's stock, valued at approximately $329,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Axiom Investors LLC DE lifted its holdings in shares of Texas Roadhouse by 3,696.7% in the 1st quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator's stock valued at $362,221,000 after buying an additional 2,116,552 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in 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 valued at $268,209,000 after acquiring an additional 1,089,256 shares during the period. AQR Capital Management LLC lifted its holdings in Texas Roadhouse by 54.3% in the first quarter. AQR Capital Management LLC now owns 1,261,587 shares of the restaurant operator's stock valued at $209,840,000 after acquiring an additional 443,767 shares during the period. Wellington Management Group LLP lifted its holdings in Texas Roadhouse by 9.8% in the first quarter. Wellington Management Group LLP now owns 750,479 shares of the restaurant operator's stock valued at $125,052,000 after acquiring an additional 66,731 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in Texas Roadhouse by 1.3% in the first quarter. Westfield Capital Management Co. LP now owns 702,048 shares of the restaurant operator's stock valued at $116,982,000 after acquiring an additional 8,904 shares during the period. Institutional investors and hedge funds own 94.82% of the company's stock.

Texas Roadhouse Price Performance

Shares of Texas Roadhouse stock opened at $163.33 on Friday. Texas Roadhouse, Inc. has a 1 year low of $148.73 and a 1 year high of $206.04. The company has a market capitalization of $10.85 billion, a P/E ratio of 24.94, a P/E/G ratio of 2.24 and a beta of 0.82. The business has a 50 day moving average price of $169.88 and a 200 day moving average price of $176.83.

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

Texas Roadhouse Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were paid a $0.68 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.72 annualized dividend and a yield of 1.7%. Texas Roadhouse's payout ratio is presently 41.53%.

Analyst Ratings Changes

TXRH has been the subject of several recent analyst reports. Stifel Nicolaus raised their price objective on shares of Texas Roadhouse from $180.00 to $188.00 and gave the company a "hold" rating in a research note on Friday, July 25th. Bank of America lifted their price target on shares of Texas Roadhouse from $203.00 to $219.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Citigroup lifted their price target on shares of Texas Roadhouse from $180.00 to $197.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Truist Financial set a $212.00 price objective on Texas Roadhouse and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Stephens lifted their price objective on Texas Roadhouse from $184.00 to $190.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $196.00.

Insider Activity at Texas Roadhouse

In other news, President Regina A. Tobin sold 3,153 shares of the business'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 completion of the transaction, the president 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Hernan E. Mujica sold 2,189 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $172.40, for a total transaction of $377,383.60. Following the completion of the transaction, the chief technology officer directly owned 17,553 shares of the company's stock, valued at approximately $3,026,137.20. This represents a 11.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,342 shares of company stock valued at $1,443,704. 0.50% of the stock is owned by insiders.

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.

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