Hudson Bay Capital Management LP Makes New Investment in Texas Roadhouse, Inc. $TXRH

Hudson Bay Capital Management LP bought a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) during the third quarter, Holdings Channel.com reports. The firm bought 39,743 shares of the restaurant operator’s stock, valued at approximately $6,603,000.

Several other hedge funds have also modified their holdings of TXRH. Alliancebernstein L.P. increased its holdings in shares of Texas Roadhouse by 528.2% in the second quarter. Alliancebernstein L.P. now owns 3,172,738 shares of the restaurant operator’s stock valued at $594,603,000 after purchasing an additional 2,667,716 shares in the last quarter. Capital World Investors lifted its holdings in Texas Roadhouse by 580.2% during the 3rd quarter. Capital World Investors now owns 2,236,885 shares of the restaurant operator’s stock worth $371,658,000 after buying an additional 1,908,033 shares in the last quarter. AQR Capital Management LLC boosted its position in Texas Roadhouse by 85.7% in the 2nd quarter. AQR Capital Management LLC now owns 2,343,000 shares of the restaurant operator’s stock valued at $439,102,000 after buying an additional 1,081,413 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in Texas Roadhouse in the 3rd quarter valued at $157,310,000. Finally, Victory Capital Management Inc. increased its stake in shares of Texas Roadhouse by 770.6% in the 3rd quarter. Victory Capital Management Inc. now owns 972,251 shares of the restaurant operator’s stock valued at $161,540,000 after buying an additional 860,571 shares during the period. 94.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Hugh J. Carroll sold 988 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $170.96, for a total value of $168,908.48. Following the completion of the sale, the director owned 866 shares in the company, valued at $148,051.36. This represents a 53.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Hernan E. Mujica sold 5,000 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $170.00, for a total value of $850,000.00. Following the sale, the chief technology officer directly owned 15,552 shares in the company, valued at $2,643,840. The trade was a 24.33% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 22,988 shares of company stock valued at $4,133,794. 0.50% of the stock is owned by company insiders.

Texas Roadhouse Trading Down 0.4%

Texas Roadhouse stock opened at $170.89 on Friday. The firm has a market capitalization of $11.30 billion, a P/E ratio of 28.06, a PEG ratio of 1.86 and a beta of 0.86. Texas Roadhouse, Inc. has a 1 year low of $148.73 and a 1 year high of $199.99. The business has a 50-day moving average of $182.00 and a 200-day moving average of $173.46.

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

Texas Roadhouse Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.8%. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.68. The ex-dividend date is Tuesday, March 17th. Texas Roadhouse’s dividend payout ratio (DPR) is 49.26%.

Wall Street Analysts Forecast Growth

TXRH has been the subject of a number of recent research reports. KeyCorp restated a “sector weight” rating on shares of Texas Roadhouse in a research report on Friday, February 20th. BTIG Research reiterated a “buy” rating and issued a $200.00 price objective on shares of Texas Roadhouse in a research report on Friday, February 20th. Stephens boosted their price objective on Texas Roadhouse from $168.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, February 20th. Mizuho upped their target price on shares of Texas Roadhouse from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Finally, Barclays set a $188.00 target price on shares of Texas Roadhouse in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $196.55.

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.