Junto Capital Management LP Takes $40.30 Million Position in Texas Roadhouse, Inc. $TXRH

Junto Capital Management LP acquired a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 242,527 shares of the restaurant operator’s stock, valued at approximately $40,296,000.

Other institutional investors have also recently made changes to their positions in the company. NewEdge Advisors LLC raised its stake in Texas Roadhouse by 3.1% during the 2nd quarter. NewEdge Advisors LLC now owns 2,499 shares of the restaurant operator’s stock valued at $468,000 after purchasing an additional 76 shares during the period. Salomon & Ludwin LLC boosted its stake in Texas Roadhouse by 37.2% in the 3rd quarter. Salomon & Ludwin LLC now owns 299 shares of the restaurant operator’s stock worth $50,000 after purchasing an additional 81 shares during the period. Linden Thomas Advisory Services LLC boosted its stake in Texas Roadhouse by 4.4% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 2,086 shares of the restaurant operator’s stock worth $347,000 after purchasing an additional 87 shares during the period. Invesco LLC grew its holdings in Texas Roadhouse by 4.5% during the 3rd quarter. Invesco LLC now owns 2,086 shares of the restaurant operator’s stock valued at $347,000 after buying an additional 89 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in Texas Roadhouse by 3.5% during the 2nd quarter. ProShare Advisors LLC now owns 2,942 shares of the restaurant operator’s stock valued at $551,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Insider Activity

In other Texas Roadhouse news, Director Donna E. Epps sold 850 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $172.45, for a total transaction of $146,582.50. Following the transaction, the director owned 4,892 shares in the company, valued at $843,625.40. The trade was a 14.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Hernan E. Mujica sold 5,000 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $170.00, for a total transaction of $850,000.00. Following the completion of the sale, the chief technology officer directly owned 15,552 shares in the company, valued at approximately $2,643,840. This represents a 24.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 17,550 shares of company stock valued at $3,203,936 over the last ninety days. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on TXRH shares. Sanford C. Bernstein set a $185.00 target price on shares of Texas Roadhouse in a report on Wednesday, January 7th. Barclays set a $188.00 price target on shares of Texas Roadhouse in a report on Friday, February 20th. Benchmark reiterated a “hold” rating on shares of Texas Roadhouse in a research note on Monday, February 23rd. Truist Financial dropped their price objective on shares of Texas Roadhouse from $188.00 to $186.00 and set a “hold” rating for the company in a report on Friday, February 20th. Finally, Morgan Stanley cut their price objective on Texas Roadhouse from $208.00 to $202.00 and set an “overweight” rating for the company in a research report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $196.55.

Texas Roadhouse Price Performance

Shares of NASDAQ TXRH opened at $170.24 on Monday. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $199.99. The business’s 50 day moving average is $182.87 and its two-hundred day moving average is $173.54. The stock has a market capitalization of $11.26 billion, a P/E ratio of 27.95, a PEG ratio of 1.84 and a beta of 0.86.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, February 19th. The restaurant operator reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.25). The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. Texas Roadhouse had a net margin of 6.90% and a return on equity of 27.88%. Texas Roadhouse’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.73 earnings per share. As a group, equities research analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a $0.75 dividend. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.68. This represents a $3.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, March 17th. Texas Roadhouse’s dividend payout ratio is 44.66%.

Texas Roadhouse 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.