Headlands Technologies LLC Makes New Investment in Texas Roadhouse, Inc. $TXRH

Headlands Technologies LLC bought a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) in the second quarter, Holdings Channel reports. The fund bought 21,021 shares of the restaurant operator’s stock, valued at approximately $4,062,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Texas Roadhouse in the second quarter worth about $1,273,173,000. Balyasny Asset Management L.P. purchased a new position in Texas Roadhouse during the third quarter valued at approximately $157,310,000. Wellington Management Group LLP increased its holdings in Texas Roadhouse by 228.4% during the 4th quarter. Wellington Management Group LLP now owns 1,329,052 shares of the restaurant operator’s stock worth $220,623,000 after acquiring an additional 924,306 shares during the period. Norges Bank bought a new stake in Texas Roadhouse during the 4th quarter worth approximately $145,734,000. Finally, Steadfast Capital Management LP lifted its stake in Texas Roadhouse by 99.2% in the 3rd quarter. Steadfast Capital Management LP now owns 1,275,648 shares of the restaurant operator’s stock worth $211,949,000 after purchasing an additional 635,178 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors.

Texas Roadhouse Price Performance

TXRH opened at $198.99 on Monday. The business’s fifty day simple moving average is $198.20 and its 200 day simple moving average is $180.71. Texas Roadhouse, Inc. has a 52 week low of $153.82 and a 52 week high of $216.30. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. The stock has a market cap of $13.06 billion, a PE ratio of 31.84, a P/E/G ratio of 1.97 and a beta of 0.79.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.02. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the company posted $1.86 earnings per share. The company’s revenue was up 11.1% compared to the same quarter last year. As a group, research analysts expect that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be given a $0.75 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $3.00 dividend on an annualized basis and a yield of 1.5%. Texas Roadhouse’s payout ratio is presently 48.00%.

Analyst Upgrades and Downgrades

Several research analysts have commented on TXRH shares. Barclays cut their price target on shares of Texas Roadhouse from $188.00 to $175.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Royal Bank Of Canada increased their price objective on Texas Roadhouse from $210.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $235.00 price objective on shares of Texas Roadhouse in a research note on Monday, August 3rd. Piper Sandler boosted their target price on Texas Roadhouse from $192.00 to $208.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Finally, Wells Fargo & Company upped their target price on Texas Roadhouse from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. One investment 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $208.48.

Insider Buying and Selling

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $202.17, for a total value of $3,032,550.00. Following the completion of the sale, the chief executive officer owned 80,970 shares of the company’s stock, valued at $16,369,704.90. This represents a 15.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory N. Moore sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $208.32, for a total transaction of $624,960.00. Following the transaction, the director owned 26,900 shares in the company, valued at $5,603,808. The trade was a 10.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 20,396 shares of company stock worth $4,143,825 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

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.