Cinctive Capital Management LP Reduces Stock Position in Texas Roadhouse, Inc. $TXRH

Cinctive Capital Management LP lessened its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 28.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,357 shares of the restaurant operator’s stock after selling 32,483 shares during the quarter. Cinctive Capital Management LP owned approximately 0.12% of Texas Roadhouse worth $13,505,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Alliancebernstein L.P. increased its holdings in Texas Roadhouse by 14.7% in the third quarter. Alliancebernstein L.P. now owns 3,638,914 shares of the restaurant operator’s stock valued at $604,606,000 after buying an additional 466,176 shares during the last quarter. AQR Capital Management LLC boosted its stake in Texas Roadhouse by 27.4% in the fourth quarter. AQR Capital Management LLC now owns 2,674,102 shares of the restaurant operator’s stock valued at $443,901,000 after acquiring an additional 575,685 shares in the last quarter. Capital World Investors boosted its stake in Texas Roadhouse by 13.4% in the fourth quarter. Capital World Investors now owns 2,537,290 shares of the restaurant operator’s stock valued at $421,190,000 after acquiring an additional 300,405 shares in the last quarter. UBS Group AG boosted its stake in Texas Roadhouse by 60.4% in the fourth quarter. UBS Group AG now owns 1,387,454 shares of the restaurant operator’s stock valued at $230,317,000 after acquiring an additional 522,509 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Texas Roadhouse by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 1,367,120 shares of the restaurant operator’s stock valued at $226,984,000 after acquiring an additional 24,834 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Price Performance

Shares of TXRH opened at $173.54 on Thursday. Texas Roadhouse, Inc. has a fifty-two week low of $153.82 and a fifty-two week high of $197.00. The company has a market capitalization of $11.41 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 1.84 and a beta of 0.79. The firm has a 50-day simple moving average of $168.73 and a 200-day simple moving average of $173.53. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.40 and a current ratio of 0.46.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.07. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the firm earned $1.70 earnings per share. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts anticipate that Texas Roadhouse, Inc. will post 6.4 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd will be paid a dividend of $0.75 per share. The ex-dividend date is Tuesday, June 2nd. This represents a $3.00 annualized dividend and a dividend yield of 1.7%. Texas Roadhouse’s dividend payout ratio is 47.92%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Barclays decreased their price objective on shares of Texas Roadhouse from $188.00 to $175.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Benchmark restated a “hold” rating on shares of Texas Roadhouse in a research note on Monday, February 23rd. KeyCorp restated a “sector weight” rating on shares of Texas Roadhouse in a research note on Friday, February 20th. Morgan Stanley restated an “overweight” rating and issued a $201.00 price objective on shares of Texas Roadhouse in a research note on Friday, May 8th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Texas Roadhouse in a research note on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, Texas Roadhouse presently has an average rating of “Hold” and a consensus price target of $196.36.

Insider Buying and Selling at Texas Roadhouse

In other news, insider Christopher C. Colson sold 499 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $179.22, for a total transaction of $89,430.78. Following the completion of the sale, the insider owned 14,500 shares in the company, valued at approximately $2,598,690. This represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Curtis Warfield sold 2,640 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $183.05, for a total transaction of $483,252.00. Following the sale, the director owned 5,361 shares of the company’s stock, valued at $981,331.05. This trade represents a 33.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 5,728 shares of company stock valued at $1,033,847. Corporate insiders own 0.50% of the company’s stock.

Texas Roadhouse Company 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.