New York State Teachers Retirement System Decreases Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

New York State Teachers Retirement System decreased its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 3.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,198 shares of the restaurant operator’s stock after selling 2,900 shares during the quarter. New York State Teachers Retirement System owned about 0.12% of Texas Roadhouse worth $13,697,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TXRH. Optas LLC boosted its holdings in shares of Texas Roadhouse by 1.3% in the 1st quarter. Optas LLC now owns 5,217 shares of the restaurant operator’s stock valued at $869,000 after acquiring an additional 65 shares during the last quarter. Coppell Advisory Solutions LLC lifted its position in Texas Roadhouse by 56.8% during the fourth quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator’s stock valued at $35,000 after purchasing an additional 71 shares during the period. Trek Financial LLC lifted its position in Texas Roadhouse by 5.9% during the fourth quarter. Trek Financial LLC now owns 1,407 shares of the restaurant operator’s stock valued at $254,000 after purchasing an additional 79 shares during the period. Blue Trust Inc. boosted its holdings in Texas Roadhouse by 3.6% in the first quarter. Blue Trust Inc. now owns 2,309 shares of the restaurant operator’s stock valued at $385,000 after purchasing an additional 80 shares during the last quarter. Finally, Bridge City Capital LLC grew its position in Texas Roadhouse by 1.0% during the 4th quarter. Bridge City Capital LLC now owns 9,326 shares of the restaurant operator’s stock worth $1,683,000 after purchasing an additional 88 shares during the period. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Texas Roadhouse Price Performance

Shares of Texas Roadhouse stock opened at $188.50 on Friday. The stock has a market capitalization of $12.51 billion, a P/E ratio of 29.09, a PEG ratio of 2.56 and a beta of 0.87. The business has a 50 day simple moving average of $186.28 and a two-hundred day simple moving average of $178.53. Texas Roadhouse, Inc. has a 12 month low of $148.73 and a 12 month high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, May 8th. The restaurant operator reported $1.70 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.05). The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.44 billion. Texas Roadhouse had a net margin of 7.89% and a return on equity of 32.33%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.69 earnings per share. As a group, research analysts anticipate that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 3rd were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Tuesday, June 3rd. Texas Roadhouse’s dividend payout ratio is currently 41.98%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TXRH. The Goldman Sachs Group boosted their price objective on Texas Roadhouse from $184.00 to $205.00 and gave the company a “neutral” rating in a report on Wednesday, June 4th. Barclays decreased their price target on Texas Roadhouse from $179.00 to $175.00 and set an “equal weight” rating for the company in a report on Friday, May 9th. Wells Fargo & Company dropped their price objective on shares of Texas Roadhouse from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Stephens reaffirmed an “equal weight” rating and set a $170.00 target price on shares of Texas Roadhouse in a report on Tuesday, June 10th. Finally, Wedbush increased their price target on shares of Texas Roadhouse from $200.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, March 28th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $192.05.

Insider Activity

In other news, Director Gregory N. Moore sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $187.62, for a total value of $187,620.00. Following the completion of the sale, the director directly owned 38,050 shares in the company, valued at $7,138,941. This represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Donna E. Epps sold 800 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $186.52, for a total value of $149,216.00. Following the completion of the sale, the director directly owned 4,632 shares of the company’s stock, valued at approximately $863,960.64. This represents a 14.73% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

About Texas Roadhouse

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.