Lecap Asset Management Ltd. Makes New Investment in Texas Roadhouse, Inc. $TXRH

Lecap Asset Management Ltd. acquired a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,885 shares of the restaurant operator’s stock, valued at approximately $479,000.

Other institutional investors have also added to or reduced their stakes in the company. Alliancebernstein L.P. grew its position in Texas Roadhouse by 528.2% in the second quarter. Alliancebernstein L.P. now owns 3,172,738 shares of the restaurant operator’s stock worth $594,603,000 after acquiring an additional 2,667,716 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Texas Roadhouse by 85.7% during the second quarter. AQR Capital Management LLC now owns 2,343,000 shares of the restaurant operator’s stock valued at $439,102,000 after purchasing an additional 1,081,413 shares in the last quarter. Norges Bank bought a new stake in Texas Roadhouse during the 2nd quarter valued at $159,007,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Texas Roadhouse by 2,515.2% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 417,045 shares of the restaurant operator’s stock valued at $78,158,000 after purchasing an additional 401,098 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Texas Roadhouse by 17.2% in the 2nd quarter. Invesco Ltd. now owns 2,603,729 shares of the restaurant operator’s stock worth $487,965,000 after buying an additional 382,699 shares during the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, Director Hugh J. Carroll sold 1,000 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $167.27, for a total transaction of $167,270.00. Following the sale, the director directly owned 1,854 shares in the company, valued at approximately $310,118.58. The trade was a 35.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory N. Moore sold 1,400 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $170.00, for a total value of $238,000.00. Following the completion of the sale, the director owned 32,150 shares in the company, valued at approximately $5,465,500. This represents a 4.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. BMO Capital Markets upped their target price on Texas Roadhouse from $155.00 to $170.00 and gave the company a “market perform” rating in a research report on Tuesday. Morgan Stanley cut their price objective on shares of Texas Roadhouse from $210.00 to $205.00 and set an “overweight” rating for the company in a report on Monday, November 10th. Wall Street Zen downgraded shares of Texas Roadhouse from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Mizuho raised shares of Texas Roadhouse to a “strong-buy” rating in a research note on Tuesday, October 28th. Finally, Barclays raised their price target on shares of Texas Roadhouse from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Texas Roadhouse currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.00.

Texas Roadhouse Trading Up 1.4%

Shares of TXRH opened at $183.15 on Friday. The firm’s fifty day simple moving average is $169.71 and its 200-day simple moving average is $173.48. The firm has a market capitalization of $12.12 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 2.83 and a beta of 0.89. Texas Roadhouse, Inc. has a twelve month low of $148.73 and a twelve month high of $199.99.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, November 6th. The restaurant operator reported $1.25 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.03). Texas Roadhouse had a net margin of 7.49% and a return on equity of 30.59%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the company earned $1.26 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd were paid a dividend of $0.68 per share. The ex-dividend date was Tuesday, December 2nd. This represents a $2.72 annualized dividend and a dividend yield of 1.5%. Texas Roadhouse’s dividend payout ratio is 41.59%.

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.