Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH – Free Report) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 19,106 shares of the restaurant operator’s stock, valued at approximately $3,692,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Texas Roadhouse during the second quarter valued at approximately $1,273,173,000. Balyasny Asset Management L.P. acquired a new stake in shares of Texas Roadhouse in the third quarter valued at about $157,310,000. Wellington Management Group LLP raised its holdings in shares of Texas Roadhouse by 228.4% during the 4th quarter. Wellington Management Group LLP now owns 1,329,052 shares of the restaurant operator’s stock valued at $220,623,000 after buying an additional 924,306 shares during the period. Norges Bank acquired a new position in Texas Roadhouse during the 4th quarter worth approximately $145,734,000. Finally, Steadfast Capital Management LP boosted its holdings in Texas Roadhouse by 99.2% in the 3rd quarter. Steadfast Capital Management LP now owns 1,275,648 shares of the restaurant operator’s stock worth $211,949,000 after acquiring an additional 635,178 shares during the period. Institutional investors and hedge funds own 94.82% of the company’s stock.
Insider Buying and Selling at Texas Roadhouse
In other Texas Roadhouse news, Director Gregory N. Moore sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $208.32, for a total value of $624,960.00. Following the sale, the director owned 26,900 shares in the company, valued at approximately $5,603,808. This trade represents a 10.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Donna E. Epps sold 820 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $206.56, for a total value of $169,379.20. Following the transaction, the director owned 4,042 shares of the company’s stock, valued at approximately $834,915.52. This represents a 16.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 20,396 shares of company stock valued at $4,143,825. Corporate insiders own 0.50% of the company’s stock.
Analyst Ratings Changes
Get Our Latest Analysis on TXRH
Texas Roadhouse Trading Down 0.6%
Texas Roadhouse stock opened at $198.99 on Friday. Texas Roadhouse, Inc. has a 1 year low of $153.82 and a 1 year high of $216.30. The firm’s 50-day moving average is $198.20 and its 200-day moving average is $180.76. 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 company has a market cap of $13.06 billion, a P/E ratio of 31.84, a PEG ratio of 1.98 and a beta of 0.79.
Texas Roadhouse (NASDAQ:TXRH – Get Free Report) last issued its earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.02. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the company posted $1.86 earnings per share. Texas Roadhouse’s revenue was up 11.1% on a year-over-year basis. On average, equities analysts expect that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current year.
Texas Roadhouse Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.00 annualized dividend and a dividend yield of 1.5%. Texas Roadhouse’s payout ratio is 48.00%.
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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