Woodline Partners LP Increases Position in Texas Roadhouse, Inc. $TXRH

Key Points

• Woodline Partners LP increased its stake in Texas Roadhouse by 2.2%, holding 81,328 shares worth approximately $13.55 million.
• Texas Roadhouse reported earnings of $1.86 per share for the last quarter, missing estimates by $0.09, although revenue was up 12.7% year-over-year.
• The company announced a quarterly dividend of $0.68, reflecting an annualized dividend yield of 1.6% and a payout ratio of 41.53%.

Woodline Partners LP lifted its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 2.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 81,328 shares of the restaurant operator's stock after purchasing an additional 1,716 shares during the period. Woodline Partners LP owned approximately 0.12% of Texas Roadhouse worth $13,552,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Mercer Global Advisors Inc. ADV purchased a new stake in Texas Roadhouse in the fourth quarter valued at $453,000. Cetera Investment Advisers boosted its position in Texas Roadhouse by 60.4% during the fourth quarter. Cetera Investment Advisers now owns 6,159 shares of the restaurant operator's stock worth $1,111,000 after purchasing an additional 2,319 shares in the last quarter. Ethic Inc. grew its stake in Texas Roadhouse by 24.3% in the 4th quarter. Ethic Inc. now owns 3,873 shares of the restaurant operator's stock valued at $699,000 after acquiring an additional 757 shares during the last quarter. Focus Partners Wealth lifted its stake in Texas Roadhouse by 123.2% in the 4th quarter. Focus Partners Wealth now owns 4,967 shares of the restaurant operator's stock valued at $896,000 after buying an additional 2,742 shares in the last quarter. Finally, Gotham Asset Management LLC raised its stake in Texas Roadhouse by 36.0% in the 4th quarter. Gotham Asset Management LLC now owns 12,181 shares of the restaurant operator's stock valued at $2,198,000 after purchasing an additional 3,223 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Melius began coverage on shares of Texas Roadhouse in a report on Monday, July 14th. They set a "buy" rating and a $235.00 price objective on the stock. Stephens upped their price target on shares of Texas Roadhouse from $184.00 to $190.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Barclays boosted their price objective on shares of Texas Roadhouse from $175.00 to $189.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Melius Research raised Texas Roadhouse to a "strong-buy" rating in a report on Monday, July 14th. Finally, Evercore ISI cut shares of Texas Roadhouse from an "outperform" rating to an "in-line" rating and set a $190.00 target price on the stock. in a research note on Thursday, September 4th. One 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, the stock presently has an average rating of "Moderate Buy" and an average target price of $197.35.

Texas Roadhouse Stock Down 1.1%

Shares of TXRH traded down $1.84 during trading hours on Tuesday, reaching $163.30. 231,487 shares of the company traded hands, compared to its average volume of 1,105,298. Texas Roadhouse, Inc. has a 12 month low of $148.73 and a 12 month high of $206.04. The company's fifty day moving average price is $178.17 and its two-hundred day moving average price is $178.40. The company has a market capitalization of $10.85 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 2.28 and a beta of 0.84.

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

Texas Roadhouse Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Roadhouse's dividend payout ratio (DPR) is 41.53%.

Insider Activity

In related news, President Regina A. Tobin sold 3,153 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $173.53, for a total value of $547,140.09. Following the sale, the president directly owned 15,261 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Hernan E. Mujica sold 2,189 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $172.40, for a total transaction of $377,383.60. Following the completion of the sale, the chief technology officer owned 17,553 shares in the company, valued at approximately $3,026,137.20. This trade represents a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,342 shares of company stock worth $1,443,704 over the last quarter. Insiders own 0.50% of the company's stock.

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.