Running Oak Capital LLC Cuts Stock Position in Texas Roadhouse, Inc. $TXRH

Running Oak Capital LLC lessened its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 7.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,414 shares of the restaurant operator’s stock after selling 6,932 shares during the period. Texas Roadhouse accounts for approximately 1.9% of Running Oak Capital LLC’s investment portfolio, making the stock its 28th largest holding. Running Oak Capital LLC owned about 0.14% of Texas Roadhouse worth $14,843,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Alliancebernstein L.P. grew its stake in Texas Roadhouse by 14.7% in the third quarter. Alliancebernstein L.P. now owns 3,638,914 shares of the restaurant operator’s stock valued at $604,606,000 after purchasing an additional 466,176 shares during the last quarter. Capital World Investors grew its stake in Texas Roadhouse by 580.2% in the third quarter. Capital World Investors now owns 2,236,885 shares of the restaurant operator’s stock valued at $371,658,000 after purchasing an additional 1,908,033 shares during the last quarter. Steadfast Capital Management LP grew its stake in Texas Roadhouse by 99.2% in the third quarter. Steadfast Capital Management LP now owns 1,275,648 shares of the restaurant operator’s stock valued at $211,949,000 after purchasing an additional 635,178 shares during the last quarter. Victory Capital Management Inc. grew its stake in Texas Roadhouse by 770.6% in the third quarter. Victory Capital Management Inc. now owns 972,251 shares of the restaurant operator’s stock valued at $161,540,000 after purchasing an additional 860,571 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in Texas Roadhouse in the third quarter valued at about $157,310,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Performance

Shares of NASDAQ TXRH opened at $163.69 on Monday. The company has a market cap of $10.79 billion, a PE ratio of 26.88, a P/E/G ratio of 1.77 and a beta of 0.88. The business has a 50-day simple moving average of $174.61 and a two-hundred day simple moving average of $173.47. Texas Roadhouse, Inc. has a fifty-two week low of $156.00 and a fifty-two week high of $199.99.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, February 19th. The restaurant operator reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.25). The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. Texas Roadhouse had a return on equity of 27.88% and a net margin of 6.90%.Texas Roadhouse’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.73 EPS. On average, sell-side analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.8%. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Tuesday, March 17th. Texas Roadhouse’s dividend payout ratio is presently 49.26%.

Insider Activity

In related news, Director Donna E. Epps sold 850 shares of Texas Roadhouse stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $172.45, for a total transaction of $146,582.50. Following the completion of the sale, the director owned 4,892 shares of the company’s stock, valued at $843,625.40. The trade was a 14.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Hugh J. Carroll sold 988 shares of Texas Roadhouse stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $170.96, for a total value of $168,908.48. Following the sale, the director directly owned 866 shares of the company’s stock, valued at $148,051.36. This trade represents a 53.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 17,988 shares of company stock valued at $3,198,144. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

TXRH has been the topic of several analyst reports. KeyCorp reiterated a “sector weight” rating on shares of Texas Roadhouse in a research note on Friday, February 20th. Sanford C. Bernstein set a $185.00 price target on Texas Roadhouse in a report on Wednesday, January 7th. BMO Capital Markets reissued a “market perform” rating and issued a $165.00 price target on shares of Texas Roadhouse in a report on Friday, February 20th. Citigroup lowered their price target on Texas Roadhouse from $190.00 to $184.00 and set a “neutral” rating for the company in a report on Friday, February 20th. Finally, The Goldman Sachs Group raised their price target on Texas Roadhouse from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $196.70.

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.