Texas Roadhouse, Inc. (NASDAQ:TXRH) Stock Position Increased by California Public Employees Retirement System

California Public Employees Retirement System raised its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 318,086 shares of the restaurant operator’s stock after purchasing an additional 4,610 shares during the period. California Public Employees Retirement System’s holdings in Texas Roadhouse were worth $57,392,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Texas Roadhouse during the fourth quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new position in Texas Roadhouse during the 4th quarter worth $36,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Texas Roadhouse by 32.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock worth $48,000 after purchasing an additional 65 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new position in shares of Texas Roadhouse during the fourth quarter valued at $64,000. Finally, Asset Planning Inc bought a new stake in shares of Texas Roadhouse during the fourth quarter valued at about $74,000. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Performance

Texas Roadhouse stock opened at $168.92 on Wednesday. The company has a 50 day moving average price of $175.85 and a 200 day moving average price of $181.85. Texas Roadhouse, Inc. has a 52 week low of $146.75 and a 52 week high of $206.04. The firm has a market capitalization of $11.22 billion, a price-to-earnings ratio of 26.11, a P/E/G ratio of 1.23 and a beta of 1.00.

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

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.61%. The ex-dividend date was Tuesday, March 18th. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.61. Texas Roadhouse’s payout ratio is 42.04%.

Insider Activity

In other news, Director Curtis Warfield sold 4,190 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $178.80, for a total transaction of $749,172.00. Following the transaction, the director now directly owns 10,082 shares in the company, valued at $1,802,661.60. The trade was a 29.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gregory N. Moore sold 2,700 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $168.26, for a total value of $454,302.00. The disclosure for this sale can be found here. Insiders have sold 17,905 shares of company stock worth $3,198,367 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TXRH. Barclays decreased their target price on shares of Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Morgan Stanley upgraded shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $205.00 to $213.00 in a research note on Tuesday, January 21st. The Goldman Sachs Group assumed coverage on Texas Roadhouse in a research report on Thursday, December 5th. They issued a “neutral” rating and a $213.00 target price for the company. JPMorgan Chase & Co. lowered their price target on Texas Roadhouse from $185.00 to $184.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. Finally, Wedbush upped their price objective on Texas Roadhouse from $200.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, March 28th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $193.36.

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.