Concentric Capital Strategies LP Invests $2.98 Million in Texas Roadhouse, Inc. $TXRH

Concentric Capital Strategies LP acquired a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 17,890 shares of the restaurant operator’s stock, valued at approximately $2,981,000.

A number of other institutional investors also recently bought and sold shares of the stock. Curi RMB Capital LLC boosted its stake in Texas Roadhouse by 5.9% in the 1st quarter. Curi RMB Capital LLC now owns 55,108 shares of the restaurant operator’s stock worth $9,208,000 after purchasing an additional 3,086 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Texas Roadhouse by 8.2% in the 1st quarter. Alliancebernstein L.P. now owns 505,022 shares of the restaurant operator’s stock worth $84,152,000 after purchasing an additional 38,348 shares in the last quarter. AQR Capital Management LLC boosted its stake in Texas Roadhouse by 54.3% in the 1st quarter. AQR Capital Management LLC now owns 1,261,587 shares of the restaurant operator’s stock worth $209,840,000 after purchasing an additional 443,767 shares in the last quarter. Amundi boosted its stake in Texas Roadhouse by 2,865.8% in the 1st quarter. Amundi now owns 78,684 shares of the restaurant operator’s stock worth $13,144,000 after purchasing an additional 76,031 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in Texas Roadhouse in the 1st quarter worth approximately $696,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, President Regina A. Tobin sold 3,153 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $173.53, for a total transaction of $547,140.09. Following the completion of the sale, the president owned 15,261 shares of the company’s stock, valued at $2,648,241.33. This represents a 17.12% 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, Director Gregory N. Moore sold 3,000 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $173.06, for a total transaction of $519,180.00. Following the sale, the director directly owned 34,550 shares of the company’s stock, valued at $5,979,223. The trade was a 7.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,342 shares of company stock valued at $1,443,704. 0.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Texas Roadhouse from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. Stephens lifted their price objective on shares of Texas Roadhouse from $184.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday, August 8th. Truist Financial set a $212.00 target price on shares of Texas Roadhouse and gave the company a “buy” rating in a report on Wednesday, July 2nd. Bank of America lifted their target price on shares of Texas Roadhouse from $203.00 to $219.00 and gave the company a “buy” rating in a report on Friday, July 18th. Finally, Citigroup lifted their target price on shares of Texas Roadhouse from $180.00 to $197.00 and gave the company a “neutral” rating in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Texas Roadhouse presently has a consensus rating of “Moderate Buy” and an average target price of $197.85.

Texas Roadhouse Stock Performance

Shares of NASDAQ TXRH opened at $171.57 on Thursday. The firm has a market cap of $11.40 billion, a PE ratio of 26.19, a PEG ratio of 2.36 and a beta of 0.84. The firm has a fifty day moving average of $181.46 and a 200 day moving average of $178.76. Texas Roadhouse, Inc. has a one year low of $148.73 and a one year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, August 7th. The restaurant operator reported $1.86 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.09). The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.Texas Roadhouse’s revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.79 EPS. On average, equities analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Roadhouse’s payout ratio is presently 41.53%.

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.