New York State Teachers Retirement System Sells 7,600 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)
New York State Teachers Retirement System reduced its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 7.8% in the second quarter, selling 7,600 shares. They now own 89,938 shares valued at approximately $4.4 million. Other institutional investors are actively buying and selling shares, demonstrating significant institutional ownership at 94.82%. The company's stock price experienced slight gains, trading at $68.67, with an average rating of "Hold" from various analysts and positive earnings results reported recently.
New York State Teachers Retirement System lowered its position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 7.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 89,938 shares of the restaurant operator's stock after selling 7,600 shares during the period. New York State Teachers Retirement System owned about 0.13% of Texas Roadhouse worth $15,443,000 at the end of the most recent quarter.
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Other institutional investors have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Texas Roadhouse in the second quarter worth about $25,000. LRI Investments LLC bought a new position in Texas Roadhouse in the 1st quarter worth approximately $25,000. Rise Advisors LLC purchased a new stake in Texas Roadhouse during the 1st quarter valued at approximately $32,000. China Universal Asset Management Co. Ltd. raised its position in shares of Texas Roadhouse by 454.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 244 shares of the restaurant operator's stock valued at $38,000 after buying an additional 200 shares during the last quarter. Finally, FSC Wealth Advisors LLC purchased a new position in shares of Texas Roadhouse in the second quarter worth $83,000. Hedge funds and other institutional investors own 94.82% of the company's stock.
Insider Transactions at Texas Roadhouse
In other Texas Roadhouse news, CEO Gerald L. Morgan sold 15,000 shares of the firm's stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $171.70, for a total transaction of $2,575,500.00. Following the transaction, the chief executive officer now owns 77,847 shares of the company's stock, valued at approximately $13,366,329.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.50% of the company's stock.
Analyst Ratings Changes
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Several equities analysts recently weighed in on TXRH shares. BMO Capital Markets raised their target price on shares of Texas Roadhouse from $145.00 to $155.00 and gave the company a "market perform" rating in a research note on Friday, July 26th. Royal Bank of Canada raised their price objective on Texas Roadhouse from $165.00 to $175.00 and gave the company a "sector perform" rating in a research report on Friday, June 7th. Stifel Nicolaus boosted their target price on Texas Roadhouse from $155.00 to $175.00 and gave the stock a "hold" rating in a research report on Monday, May 6th. Barclays raised their price target on Texas Roadhouse from $138.00 to $160.00 and gave the company an "equal weight" rating in a report on Friday, May 3rd. Finally, Stephens upped their price objective on Texas Roadhouse from $170.00 to $176.00 and gave the stock an "equal weight" rating in a report on Monday, July 29th. Thirteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $169.86.
Get Our Latest Stock Report on Texas Roadhouse
Texas Roadhouse Stock Up 0.2 %
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TXRH stock traded up $0.35 during trading on Friday, hitting $168.67. The company had a trading volume of 280,628 shares, compared to its average volume of 791,872. Texas Roadhouse, Inc. has a 52-week low of $91.06 and a 52-week high of $177.72. The company has a 50 day simple moving average of $169.36 and a 200-day simple moving average of $160.20. The firm has a market capitalization of $11.25 billion, a P/E ratio of 34.45, a PEG ratio of 1.51 and a beta of 1.01.
Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its earnings results on Thursday, July 25th. The restaurant operator reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.64 by $0.15. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.34 billion. Texas Roadhouse had a net margin of 7.47% and a return on equity of 30.94%. The company's quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company posted $1.22 earnings per share. Sell-side analysts forecast that Texas Roadhouse, Inc. will post 6.32 earnings per share for the current year.
Texas Roadhouse Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Wednesday, September 4th. Texas Roadhouse's payout ratio is 49.39%.
About Texas Roadhouse
(Free Report)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.
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