California State Teachers Retirement System Buys 15,339,924 Shares of Texas Roadhouse, Inc. $TXRH

California State Teachers Retirement System grew its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 19,889.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,417,049 shares of the restaurant operator's stock after purchasing an additional 15,339,924 shares during the period. California State Teachers Retirement System owned about 23.49% of Texas Roadhouse worth $2,979,036,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Elyxium Wealth LLC acquired a new stake in shares of Texas Roadhouse during the 4th quarter worth approximately $25,000. Basecamp Wealth Advisors LLC raised its stake in shares of Texas Roadhouse by 5,033.3% in the first quarter. Basecamp Wealth Advisors LLC now owns 154 shares of the restaurant operator's stock valued at $25,000 after purchasing an additional 151 shares in the last quarter. Silvant Capital Management LLC acquired a new position in shares of Texas Roadhouse in the second quarter valued at $32,000. Measured Wealth Private Client Group LLC bought a new position in Texas Roadhouse in the third quarter worth $33,000. Finally, Garton & Associates Financial Advisors LLC bought a new position in Texas Roadhouse in the fourth quarter worth $34,000. Institutional investors own 94.82% of the company's stock.

Insiders Place Their Bets

In other news, Director Gregory Moore sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $208.32, for a total value of $624,960.00. Following the transaction, the director directly owned 26,900 shares of the company's stock, valued at $5,603,808. The trade was a 10.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gerald Morgan sold 15,000 shares of the firm's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $202.17, for a total value of $3,032,550.00. Following the sale, the chief executive officer directly owned 80,970 shares of the company's stock, valued at $16,369,704.90. This represents a 15.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,396 shares of company stock worth $4,143,825 over the last ninety days. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. BTIG Research upped their target price on shares of Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, August 7th. BMO Capital Markets raised their price target on shares of Texas Roadhouse from $165.00 to $180.00 and gave the stock a "market perform" rating in a research note on Thursday, May 21st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $235.00 price objective on shares of Texas Roadhouse in a report on Monday, August 3rd. Piper Sandler upped their price objective on Texas Roadhouse from $192.00 to $208.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Finally, Royal Bank Of Canada increased their target price on Texas Roadhouse from $210.00 to $235.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $209.40.

Texas Roadhouse Stock Up 1.0%

TXRH opened at $181.05 on Friday. The firm has a market cap of $11.88 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 1.77 and a beta of 0.78. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46. The firm's 50-day simple moving average is $197.85 and its 200-day simple moving average is $181.02. Texas Roadhouse, Inc. has a twelve month low of $153.82 and a twelve month high of $216.30.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.02. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $1.86 EPS. Equities research analysts anticipate that Texas Roadhouse, Inc. will post 6.63 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be paid a $0.75 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.7%. Texas Roadhouse's payout ratio is 48.00%.

Texas Roadhouse Profile

Texas Roadhouse, Inc is a casual-dining restaurant company that operates and franchises restaurants under the Texas Roadhouse, Bubba's 33 and Jaggers brands. Its restaurants are known for hand-cut steaks, ribs, chicken, burgers and other American-style meals, along with made-from-scratch sides and fresh-baked bread.

Texas Roadhouse restaurants generally emphasize a relaxed, family-friendly atmosphere and an experience centered on affordable, high-quality food. The company's concepts include Texas Roadhouse steakhouses, Bubba's 33 sports-themed restaurants and Jaggers fast-casual locations focused on burgers, chicken and fries.

Founded in 1993, Texas Roadhouse has expanded through a combination of company-operated and franchised restaurants.

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