Teacher Retirement System of Texas Trims Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Teacher Retirement System of Texas cut its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 11.6% in the 4th quarter, Holdings Channel reports. The fund owned 55,274 shares of the restaurant operator’s stock after selling 7,265 shares during the quarter. Teacher Retirement System of Texas’ holdings in Texas Roadhouse were worth $9,973,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Kingsview Wealth Management LLC raised its stake in Texas Roadhouse by 3.1% during the 3rd quarter. Kingsview Wealth Management LLC now owns 1,771 shares of the restaurant operator’s stock valued at $313,000 after acquiring an additional 54 shares during the last quarter. Cornerstone Investment Partners LLC raised its stake in Texas Roadhouse by 2.7% during the 4th quarter. Cornerstone Investment Partners LLC now owns 2,159 shares of the restaurant operator’s stock valued at $390,000 after acquiring an additional 56 shares during the last quarter. Lifestyle Asset Management Inc. raised its stake in Texas Roadhouse by 3.9% during the 4th quarter. Lifestyle Asset Management Inc. now owns 1,603 shares of the restaurant operator’s stock valued at $289,000 after acquiring an additional 60 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Texas Roadhouse by 32.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock worth $48,000 after buying an additional 65 shares in the last quarter. Finally, Insight Wealth Partners LLC raised its stake in shares of Texas Roadhouse by 3.9% during the 3rd quarter. Insight Wealth Partners LLC now owns 1,818 shares of the restaurant operator’s stock worth $321,000 after buying an additional 68 shares in the last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Texas Roadhouse

In related news, insider Christopher C. Colson sold 1,370 shares of Texas Roadhouse stock in a transaction on Friday, January 10th. The stock was sold at an average price of $179.46, for a total value of $245,860.20. Following the transaction, the insider now owns 10,000 shares in the company, valued at approximately $1,794,600. This trade represents a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Curtis Warfield sold 4,190 shares of Texas Roadhouse stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $178.80, for a total value of $749,172.00. Following the completion of the transaction, the director now owns 10,082 shares in the company, valued at $1,802,661.60. The trade was a 29.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,905 shares of company stock worth $3,198,367 over the last quarter. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TXRH has been the subject of a number of analyst reports. Truist Financial cut their target price on Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Barclays cut their target price on Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. The Goldman Sachs Group initiated coverage on Texas Roadhouse in a research note on Thursday, December 5th. They set a “neutral” rating and a $213.00 target price for the company. Royal Bank of Canada cut their target price on Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. Finally, Morgan Stanley raised Texas Roadhouse from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $205.00 to $213.00 in a research note on Tuesday, January 21st. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.91.

Texas Roadhouse Stock Performance

Shares of NASDAQ:TXRH opened at $169.88 on Friday. The business’s fifty day moving average price is $176.79 and its two-hundred day moving average price is $181.24. The stock has a market cap of $11.29 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00. Texas Roadhouse, Inc. has a one year low of $146.75 and a one year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.07. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.41 billion. As a group, equities research analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.68 per share. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.72 annualized dividend and a dividend yield of 1.60%. Texas Roadhouse’s dividend payout ratio (DPR) is 42.04%.

Texas Roadhouse Company 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.