Arizona State Retirement System Increases Stock Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Arizona State Retirement System increased its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 0.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 19,339 shares of the restaurant operator’s stock after purchasing an additional 107 shares during the quarter. Arizona State Retirement System’s holdings in Texas Roadhouse were worth $3,489,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of TXRH. True Wealth Design LLC bought a new position in Texas Roadhouse during the third quarter valued at $30,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Texas Roadhouse during the 4th quarter worth about $30,000. SBI Securities Co. Ltd. purchased a new position in shares of Texas Roadhouse during the 4th quarter worth about $36,000. MassMutual Private Wealth & Trust FSB grew its holdings in Texas Roadhouse by 32.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock valued at $48,000 after purchasing an additional 65 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in Texas Roadhouse by 158.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 302 shares of the restaurant operator’s stock worth $53,000 after purchasing an additional 185 shares during the period. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Trading Down 0.1 %

Shares of NASDAQ:TXRH opened at $179.03 on Monday. The company has a market capitalization of $11.94 billion, a PE ratio of 27.67, a P/E/G ratio of 1.23 and a beta of 1.00. Texas Roadhouse, Inc. has a 12-month low of $146.75 and a 12-month high of $206.04. The business’s fifty day simple moving average is $178.57 and its 200-day simple moving average is $181.07.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. Research analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a $0.68 dividend. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.61. This represents a $2.72 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Tuesday, March 18th. Texas Roadhouse’s payout ratio is currently 42.04%.

Insider Transactions at Texas Roadhouse

In other Texas Roadhouse news, President Regina A. Tobin sold 3,154 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $185.64, for a total value of $585,508.56. Following the completion of the sale, the president now owns 18,414 shares of the company’s stock, valued at approximately $3,418,374.96. This trade represents a 14.62 % 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, insider Christopher C. Colson sold 1,370 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $179.46, for a total transaction of $245,860.20. Following the transaction, the insider now owns 10,000 shares in the company, valued at $1,794,600. The trade was a 12.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,905 shares of company stock valued at $3,198,367. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

TXRH has been the subject of several analyst reports. Barclays decreased their price objective on shares of 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. Stephens dropped their price objective on Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Wedbush cut their price objective on Texas Roadhouse from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. Morgan Stanley upgraded Texas Roadhouse from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $205.00 to $213.00 in a research report on Tuesday, January 21st. Finally, Stifel Nicolaus cut their price target on shares of Texas Roadhouse from $185.00 to $172.00 and set a “hold” rating on the stock in a report on Friday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Texas Roadhouse has a consensus rating of “Moderate Buy” and an average target price of $192.73.

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.