Arrowstreet Capital Limited Partnership Sells 117,154 Shares of Texas Roadhouse, Inc. $TXRH

Arrowstreet Capital Limited Partnership cut its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 23.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 387,388 shares of the restaurant operator’s stock after selling 117,154 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.59% of Texas Roadhouse worth $63,973,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Inceptionr LLC purchased a new position in Texas Roadhouse in the first quarter worth $1,375,000. Bank of Nova Scotia boosted its holdings in shares of Texas Roadhouse by 12.0% in the 1st quarter. Bank of Nova Scotia now owns 18,712 shares of the restaurant operator’s stock worth $3,090,000 after buying an additional 2,004 shares during the last quarter. Sei Investments Co. grew its position in Texas Roadhouse by 41.1% during the first quarter. Sei Investments Co. now owns 198,481 shares of the restaurant operator’s stock valued at $32,778,000 after buying an additional 57,853 shares during the period. Lido Advisors LLC increased its holdings in Texas Roadhouse by 20.7% during the first quarter. Lido Advisors LLC now owns 1,924 shares of the restaurant operator’s stock worth $318,000 after buying an additional 330 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Texas Roadhouse by 0.3% in the first quarter. PNC Financial Services Group Inc. now owns 45,766 shares of the restaurant operator’s stock worth $7,558,000 after acquiring an additional 157 shares during the period. 94.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of Texas Roadhouse from $165.00 to $180.00 and gave the company a “market perform” rating in a research note on Thursday, May 21st. Stifel Nicolaus raised their price target on shares of Texas Roadhouse from $170.00 to $180.00 and gave the stock a “hold” rating in a research note on Tuesday, May 12th. JPMorgan Chase & Co. lifted their price target on shares of Texas Roadhouse from $182.00 to $188.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Wall Street Zen upgraded Texas Roadhouse from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. Finally, Morgan Stanley reissued an “overweight” rating and set a $201.00 price objective on shares of Texas Roadhouse in a report on Friday, May 8th. Ten investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $194.90.

Insider Activity at Texas Roadhouse

In related news, insider Lloyd Paul Marshall sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $178.34, for a total transaction of $178,340.00. Following the completion of the transaction, the insider directly owned 10,326 shares in the company, valued at $1,841,538.84. The trade was a 8.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Sean G. Renfroe sold 426 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $192.53, for a total value of $82,017.78. Following the transaction, the general counsel owned 860 shares of the company’s stock, valued at approximately $165,575.80. The trade was a 33.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,154 shares of company stock valued at $1,115,864 in the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Texas Roadhouse Price Performance

TXRH stock opened at $193.27 on Monday. The stock has a 50-day simple moving average of $181.84 and a two-hundred day simple moving average of $177.38. Texas Roadhouse, Inc. has a twelve month low of $153.82 and a twelve month high of $200.11. The firm has a market capitalization of $12.70 billion, a PE ratio of 30.87, a PEG ratio of 2.14 and a beta of 0.78. The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 0.03.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.07. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.70 EPS. On average, equities analysts predict that Texas Roadhouse, Inc. will post 6.45 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 2nd were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Tuesday, June 2nd. Texas Roadhouse’s dividend payout ratio (DPR) is 47.92%.

Texas Roadhouse Company 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.