Quantbot Technologies LP Acquires New Stake in Texas Roadhouse, Inc. $TXRH

Quantbot Technologies LP purchased a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 12,452 shares of the restaurant operator’s stock, valued at approximately $2,406,000.

A number of other hedge funds also recently bought and sold shares of TXRH. Evolve Private Wealth LLC bought a new position in Texas Roadhouse in the 2nd quarter valued at approximately $1,066,000. Emerald Investment Advisers LLC purchased a new stake in Texas Roadhouse during the 2nd quarter valued at $406,000. Ieq Capital LLC bought a new stake in shares of Texas Roadhouse in the 2nd quarter worth $24,703,000. Callan Family Office LLC purchased a new position in shares of Texas Roadhouse in the second quarter worth $1,449,000. Finally, Allworth Financial LP purchased a new position in shares of Texas Roadhouse in the second quarter worth $827,000. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Performance

NASDAQ:TXRH opened at $204.48 on Monday. The stock has a 50-day simple moving average of $195.26 and a two-hundred day simple moving average of $180.16. Texas Roadhouse, Inc. has a 52-week low of $153.82 and a 52-week high of $216.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46. The firm has a market capitalization of $13.42 billion, a PE ratio of 32.72, a P/E/G ratio of 2.02 and a beta of 0.79.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.02. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the business posted $1.86 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis. Analysts forecast that Texas Roadhouse, Inc. will post 6.63 EPS for the current year.

Texas Roadhouse Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 1st. Texas Roadhouse’s dividend payout ratio is currently 48.00%.

Insider Buying and Selling

In other Texas Roadhouse news, General Counsel Sean G. Renfroe sold 426 shares of Texas Roadhouse stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $192.53, for a total transaction of $82,017.78. Following the transaction, the general counsel owned 860 shares of the company’s stock, valued at $165,575.80. The trade was a 33.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory N. Moore sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $208.32, for a total transaction of $624,960.00. Following the completion of the transaction, the director owned 26,900 shares of the company’s stock, valued at approximately $5,603,808. The trade was a 10.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 19,745 shares of company stock worth $3,998,338 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TXRH shares. Morgan Stanley restated an “overweight” rating and set a $212.00 price objective on shares of Texas Roadhouse in a research report on Friday, August 7th. Mizuho boosted their target price on shares of Texas Roadhouse from $190.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. BMO Capital Markets increased their price target on Texas Roadhouse from $165.00 to $180.00 and gave the company a “market perform” rating in a report on Thursday, May 21st. TD Cowen raised their price target on Texas Roadhouse from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, Stifel Nicolaus lifted their price objective on Texas Roadhouse from $170.00 to $180.00 and gave the stock a “hold” rating in a report on Tuesday, May 12th. Ten research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $208.48.

Texas Roadhouse Profile

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.