1832 Asset Management L.P. Invests $1.90 Million in Texas Roadhouse, Inc. (NASDAQ:TXRH)

1832 Asset Management L.P. bought a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,286 shares of the restaurant operator’s stock, valued at approximately $1,898,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Texas Roadhouse by 0.8% in the first quarter. Vanguard Group Inc. now owns 6,476,056 shares of the restaurant operator’s stock valued at $1,000,356,000 after acquiring an additional 53,419 shares during the period. Geneva Capital Management LLC increased its stake in Texas Roadhouse by 7.9% in the fourth quarter. Geneva Capital Management LLC now owns 948,219 shares of the restaurant operator’s stock valued at $115,901,000 after purchasing an additional 69,536 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Texas Roadhouse by 3.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 833,790 shares of the restaurant operator’s stock worth $101,916,000 after buying an additional 31,079 shares during the period. Boston Trust Walden Corp grew its holdings in shares of Texas Roadhouse by 12.9% during the fourth quarter. Boston Trust Walden Corp now owns 777,202 shares of the restaurant operator’s stock worth $94,997,000 after buying an additional 89,019 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its position in Texas Roadhouse by 9.3% in the 4th quarter. Westfield Capital Management Co. LP now owns 768,526 shares of the restaurant operator’s stock valued at $93,937,000 after acquiring an additional 65,480 shares during the period. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on TXRH. Truist Financial increased their price objective on Texas Roadhouse from $185.00 to $196.00 and gave the stock a “buy” rating in a research report on Friday. Barclays lifted their price objective on Texas Roadhouse from $138.00 to $160.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Benchmark started coverage on Texas Roadhouse in a research note on Wednesday, April 10th. They set a “hold” rating for the company. Jefferies Financial Group upped their price objective on Texas Roadhouse from $120.00 to $136.00 and gave the stock a “hold” rating in a report on Tuesday, April 16th. Finally, BTIG Research raised their target price on Texas Roadhouse from $175.00 to $190.00 and gave the company a “buy” rating in a report on Friday. Thirteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $168.23.

Texas Roadhouse Price Performance

Shares of NASDAQ:TXRH traded up $3.36 during trading on Friday, reaching $169.38. 1,482,375 shares of the company’s stock traded hands, compared to its average volume of 858,037. The company has a 50 day moving average of $169.75 and a 200-day moving average of $154.28. Texas Roadhouse, Inc. has a 12 month low of $91.06 and a 12 month high of $175.72. The stock has a market capitalization of $11.31 billion, a P/E ratio of 34.29, a price-to-earnings-growth ratio of 1.63 and a beta of 1.01.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, July 25th. The restaurant operator reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.15. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. Texas Roadhouse had a return on equity of 31.68% and a net margin of 7.47%. The business’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the business posted $1.22 EPS. Equities research analysts predict that Texas Roadhouse, Inc. will post 6.23 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Wednesday, June 12th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Wednesday, June 12th. Texas Roadhouse’s dividend payout ratio (DPR) is 49.39%.

Insider Transactions at Texas Roadhouse

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $171.70, for a total value of $2,575,500.00. Following the completion of the transaction, the chief executive officer now owns 77,847 shares in the company, valued at approximately $13,366,329.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Curtis Warfield sold 1,025 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $165.82, for a total value of $169,965.50. Following the completion of the transaction, the director now owns 12,372 shares in the company, valued at approximately $2,051,525.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gerald L. Morgan sold 15,000 shares of Texas Roadhouse stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $171.70, for a total transaction of $2,575,500.00. Following the transaction, the chief executive officer now owns 77,847 shares in the company, valued at $13,366,329.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,025 shares of company stock worth $3,251,266. Insiders own 0.50% of the company’s stock.

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.