Aire Advisors LLC Sells 4,000 Shares of Texas Roadhouse, Inc. $TXRH

Aire Advisors LLC cut its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 10.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,000 shares of the restaurant operator’s stock after selling 4,000 shares during the quarter. Texas Roadhouse makes up approximately 1.1% of Aire Advisors LLC’s investment portfolio, making the stock its 25th largest holding. Aire Advisors LLC’s holdings in Texas Roadhouse were worth $5,780,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Balyasny Asset Management L.P. acquired a new position in Texas Roadhouse in the 3rd quarter valued at $157,310,000. Wellington Management Group LLP boosted its position in shares of Texas Roadhouse by 228.4% in the fourth quarter. Wellington Management Group LLP now owns 1,329,052 shares of the restaurant operator’s stock valued at $220,623,000 after acquiring an additional 924,306 shares during the period. Norges Bank bought a new stake in shares of Texas Roadhouse in the fourth quarter valued at about $145,734,000. Steadfast Capital Management LP grew its stake in shares of 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 acquiring an additional 635,178 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Texas Roadhouse by 27.4% during the fourth quarter. AQR Capital Management LLC now owns 2,674,102 shares of the restaurant operator’s stock worth $443,901,000 after acquiring an additional 575,685 shares during the period. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Price Performance

TXRH opened at $197.03 on Friday. Texas Roadhouse, Inc. has a fifty-two week low of $153.82 and a fifty-two week high of $200.11. The firm has a 50-day moving average of $180.54 and a 200 day moving average of $176.47. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.40 and a current ratio of 0.46. The firm has a market cap of $12.95 billion, a P/E ratio of 31.47, a PEG ratio of 2.11 and a beta of 0.78.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, May 7th. The restaurant operator reported $1.87 EPS for the quarter, beating the consensus estimate of $1.80 by $0.07. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. Texas Roadhouse’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.70 earnings per share. On average, research analysts expect that Texas Roadhouse, Inc. will post 6.44 EPS for the current year.

Texas Roadhouse Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, June 2nd. Texas Roadhouse’s dividend payout ratio is currently 47.92%.

Insider Transactions at Texas Roadhouse

In other news, General Counsel Sean G. Renfroe sold 426 shares of Texas Roadhouse stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $192.53, for a total transaction of $82,017.78. Following the sale, the general counsel owned 860 shares of the company’s stock, valued at approximately $165,575.80. The trade was a 33.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lloyd Paul Marshall sold 1,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $178.34, for a total transaction of $178,340.00. Following the sale, the insider owned 10,326 shares in the company, valued at approximately $1,841,538.84. This trade represents a 8.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 6,154 shares of company stock worth $1,115,864. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on TXRH. Morgan Stanley reiterated an “overweight” rating and set a $201.00 target price on shares of Texas Roadhouse in a research report on Friday, May 8th. BMO Capital Markets upped their price objective on shares of Texas Roadhouse from $165.00 to $180.00 and gave the stock a “market perform” rating in a research report on Thursday, May 21st. Guggenheim restated a “buy” rating and issued a $210.00 target price on shares of Texas Roadhouse in a research report on Monday, May 18th. Wall Street Zen raised shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Finally, TD Cowen lifted their price objective on shares of Texas Roadhouse from $192.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Ten research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $194.90.

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.