Coatue Management LLC purchased a new stake in Texas Roadhouse Inc (NASDAQ:TXRH) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,064 shares of the restaurant operator’s stock, valued at approximately $214,000.
Several other institutional investors have also added to or reduced their stakes in TXRH. Acadian Asset Management LLC bought a new position in shares of Texas Roadhouse in the first quarter valued at about $35,000. Rockefeller Capital Management L.P. bought a new stake in Texas Roadhouse during the 2nd quarter worth about $38,000. First Quadrant L P CA bought a new stake in Texas Roadhouse during the 1st quarter worth about $47,000. Cerebellum GP LLC bought a new stake in Texas Roadhouse during the 2nd quarter worth about $122,000. Finally, Advisor Group Holdings Inc. bought a new stake in Texas Roadhouse during the 1st quarter worth about $151,000. 93.33% of the stock is owned by institutional investors and hedge funds.
In other Texas Roadhouse news, CEO Wayne Kent Taylor sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $61.70, for a total transaction of $12,340,000.00. Following the completion of the transaction, the chief executive officer now owns 3,668,944 shares of the company’s stock, valued at approximately $226,373,844.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James R. Zarley sold 13,100 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $59.80, for a total value of $783,380.00. Following the transaction, the director now directly owns 104,743 shares of the company’s stock, valued at approximately $6,263,631.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 225,634 shares of company stock valued at $13,868,605. Insiders own 6.16% of the company’s stock.
Shares of TXRH traded down $1.12 on Friday, hitting $64.25. The company’s stock had a trading volume of 706,608 shares, compared to its average volume of 730,370. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 0.22. The firm’s fifty day moving average price is $58.53 and its 200-day moving average price is $51.93. Texas Roadhouse Inc has a fifty-two week low of $25.15 and a fifty-two week high of $72.49. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 73.01, a P/E/G ratio of 23.58 and a beta of 0.95.
Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Monday, August 3rd. The restaurant operator reported ($0.48) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.62) by $0.14. Texas Roadhouse had a return on equity of 6.79% and a net margin of 2.46%. The business had revenue of $476.43 million during the quarter, compared to analyst estimates of $474.75 million. During the same period in the previous year, the firm earned $0.63 EPS. Texas Roadhouse’s quarterly revenue was down 30.9% compared to the same quarter last year. As a group, equities analysts predict that Texas Roadhouse Inc will post 0.27 earnings per share for the current fiscal year.
Several analysts have weighed in on the company. Royal Bank of Canada boosted their price objective on Texas Roadhouse from $51.00 to $59.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 4th. Morgan Stanley boosted their price objective on Texas Roadhouse from $47.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 4th. Stephens cut Texas Roadhouse from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 27th. Deutsche Bank boosted their target price on Texas Roadhouse from $47.00 to $58.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Finally, Credit Suisse Group boosted their target price on Texas Roadhouse from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $60.77.
About Texas Roadhouse
Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises Texas Roadhouse and Bubba's 33 restaurants. As of April 29, 2019, it owned and operated approximately 590 restaurants. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.
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