Maryland State Retirement & Pension System Sells 254 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Maryland State Retirement & Pension System trimmed its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 6.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,559 shares of the restaurant operator’s stock after selling 254 shares during the period. Maryland State Retirement & Pension System’s holdings in Texas Roadhouse were worth $642,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TXRH. Hantz Financial Services Inc. lifted its position in Texas Roadhouse by 8,594.4% in the third quarter. Hantz Financial Services Inc. now owns 3,130 shares of the restaurant operator’s stock worth $553,000 after buying an additional 3,094 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Texas Roadhouse in the 3rd quarter worth about $17,853,000. Chase Investment Counsel Corp purchased a new position in shares of Texas Roadhouse during the 4th quarter worth about $316,000. Raymond James Financial Inc. bought a new position in Texas Roadhouse during the 4th quarter valued at about $55,177,000. Finally, First Hawaiian Bank purchased a new stake in Texas Roadhouse in the 4th quarter worth about $1,554,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Insider Transactions at Texas Roadhouse

In related news, President Regina A. Tobin sold 3,154 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $185.64, for a total value of $585,508.56. Following the completion of the transaction, the president now directly owns 18,414 shares of the company’s stock, valued at $3,418,374.96. This trade represents a 14.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Curtis Warfield sold 4,190 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $178.80, for a total transaction of $749,172.00. Following the sale, the director now directly owns 10,082 shares in the company, valued at approximately $1,802,661.60. This represents a 29.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,905 shares of company stock valued at $3,198,367 in the last quarter. 0.50% of the stock is currently owned by corporate insiders.

Texas Roadhouse Price Performance

TXRH opened at $175.87 on Tuesday. The firm has a market capitalization of $11.69 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00. The business’s 50-day moving average is $176.70 and its two-hundred day moving average is $181.41. Texas Roadhouse, Inc. has a 1 year low of $146.75 and a 1 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 EPS for the quarter, topping the consensus estimate of $1.66 by $0.07. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.41 billion. As a group, sell-side analysts expect that Texas Roadhouse, Inc. will post 7.23 EPS for the current 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 represents a $2.72 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Tuesday, March 18th. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.61. Texas Roadhouse’s dividend payout ratio is currently 42.04%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Stifel Nicolaus dropped their target price on Texas Roadhouse from $185.00 to $172.00 and set a “hold” rating for the company in a research report on Friday, February 21st. Truist Financial dropped their price objective on Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating for the company in a report on Friday, February 21st. Stephens decreased their target price on Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Wedbush lowered their target price on shares of Texas Roadhouse from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Finally, Barclays reduced their price target on shares of Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating on the stock in a research note on Friday, February 21st. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.91.

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.