New York State Common Retirement Fund Cuts Stock Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

New York State Common Retirement Fund cut its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 156,397 shares of the restaurant operator’s stock after selling 324 shares during the period. New York State Common Retirement Fund owned about 0.23% of Texas Roadhouse worth $19,116,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Invesco Ltd. boosted its stake in shares of Texas Roadhouse by 40.7% in the 3rd quarter. Invesco Ltd. now owns 1,281,296 shares of the restaurant operator’s stock valued at $123,133,000 after buying an additional 370,627 shares during the period. Qube Research & Technologies Ltd grew its holdings in Texas Roadhouse by 60.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 777,893 shares of the restaurant operator’s stock worth $74,756,000 after acquiring an additional 294,425 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Texas Roadhouse by 164.8% in the 3rd quarter. California Public Employees Retirement System now owns 362,059 shares of the restaurant operator’s stock valued at $34,794,000 after purchasing an additional 225,338 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Texas Roadhouse by 26.3% in the 3rd quarter. Victory Capital Management Inc. now owns 985,795 shares of the restaurant operator’s stock valued at $94,735,000 after purchasing an additional 205,064 shares in the last quarter. Finally, ING Groep NV purchased a new stake in shares of Texas Roadhouse during the 3rd quarter worth $18,622,000. 94.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on TXRH shares. Benchmark began coverage on Texas Roadhouse in a report on Wednesday, April 10th. They issued a “hold” rating on the stock. Wells Fargo & Company boosted their target price on Texas Roadhouse from $125.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Friday, February 16th. BMO Capital Markets upped their price target on Texas Roadhouse from $110.00 to $130.00 and gave the company a “market perform” rating in a report on Friday, February 16th. Robert W. Baird raised shares of Texas Roadhouse from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $160.00 to $175.00 in a report on Wednesday, March 13th. Finally, Wedbush increased their target price on shares of Texas Roadhouse from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $138.76.

Texas Roadhouse Price Performance

Texas Roadhouse stock opened at $157.46 on Friday. The business has a 50 day simple moving average of $151.30 and a 200-day simple moving average of $127.47. Texas Roadhouse, Inc. has a 12 month low of $91.06 and a 12 month high of $159.31. The stock has a market capitalization of $10.52 billion, a PE ratio of 34.76, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, February 15th. The restaurant operator reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.01. Texas Roadhouse had a net margin of 6.58% and a return on equity of 27.43%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the company posted $0.89 EPS. Texas Roadhouse’s revenue was up 15.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Texas Roadhouse, Inc. will post 5.77 EPS for the current year.

Texas Roadhouse Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 13th were issued a dividend of $0.61 per share. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.55. This represents a $2.44 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Tuesday, March 12th. Texas Roadhouse’s dividend payout ratio is currently 53.86%.

Insider Activity at Texas Roadhouse

In other news, insider Christopher C. Colson sold 405 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $149.05, for a total transaction of $60,365.25. Following the completion of the transaction, the insider now directly owns 8,500 shares of the company’s stock, valued at approximately $1,266,925. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, President Regina A. Tobin sold 3,064 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $150.07, for a total transaction of $459,814.48. Following the sale, the president now owns 15,261 shares of the company’s stock, valued at $2,290,218.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher C. Colson sold 405 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $149.05, for a total transaction of $60,365.25. Following the transaction, the insider now owns 8,500 shares in the company, valued at $1,266,925. The disclosure for this sale can be found here. Insiders sold a total of 12,382 shares of company stock worth $1,843,145 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Texas Roadhouse Profile

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.