Hudson Bay Capital Management LP Buys New Position in Texas Roadhouse, Inc. $TXRH

Hudson Bay Capital Management LP acquired a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 39,743 shares of the restaurant operator’s stock, valued at approximately $6,603,000. Hudson Bay Capital Management LP owned about 0.06% of Texas Roadhouse at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Caldwell Trust Co purchased a new stake in Texas Roadhouse during the second quarter valued at about $28,000. Measured Wealth Private Client Group LLC acquired a new position in Texas Roadhouse in the 3rd quarter worth $33,000. Root Financial Partners LLC purchased a new position in Texas Roadhouse in the third quarter valued at about $36,000. Salomon & Ludwin LLC boosted its stake in shares of Texas Roadhouse by 37.2% during the 3rd quarter. Salomon & Ludwin LLC now owns 299 shares of the restaurant operator’s stock valued at $50,000 after buying an additional 81 shares during the last quarter. Finally, LRI Investments LLC grew its holdings in Texas Roadhouse by 100.0% during the 3rd quarter. LRI Investments LLC now owns 300 shares of the restaurant operator’s stock worth $50,000 after acquiring an additional 150 shares in the last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, President Regina A. Tobin sold 4,450 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $171.00, for a total value of $760,950.00. Following the completion of the sale, the president directly owned 13,778 shares in the company, valued at approximately $2,356,038. This trade represents a 24.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Hernan E. Mujica sold 5,000 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $170.00, for a total value of $850,000.00. Following the completion of the sale, the chief technology officer owned 15,552 shares of the company’s stock, valued at approximately $2,643,840. This trade represents a 24.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 22,988 shares of company stock worth $4,133,794. 0.50% of the stock is currently owned by insiders.

Texas Roadhouse Price Performance

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 P/E/G ratio of 1.86 and a beta of 0.86. The stock has a fifty day moving average price of $182.00 and a two-hundred day moving average price of $173.46. Texas Roadhouse, Inc. has a 52-week low of $148.73 and a 52-week high of $199.99.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, February 19th. The restaurant operator reported $1.28 EPS for the quarter, missing the consensus estimate 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 firm posted $1.73 EPS. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, equities research analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The firm 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 dividend of $0.75 per share. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.68. The ex-dividend date is Tuesday, March 17th. This represents a $3.00 dividend on an annualized basis and a yield of 1.8%. Texas Roadhouse’s dividend payout ratio is currently 49.26%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TXRH. Truist Financial lowered their price objective on shares of Texas Roadhouse from $188.00 to $186.00 and set a “hold” rating for the company in a research report on Friday, February 20th. Zacks Research upgraded shares of Texas Roadhouse from a “strong sell” rating to a “hold” rating in a report on Thursday, January 8th. Benchmark reiterated a “hold” rating on shares of Texas Roadhouse in a report on Monday, February 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Texas Roadhouse in a report on Monday, December 29th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Texas Roadhouse in a report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat.com, Texas Roadhouse currently has a consensus rating of “Moderate Buy” and a consensus 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.