New York State Teachers Retirement System Sells 2,900 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

New York State Teachers Retirement System reduced its position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 3.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 82,198 shares of the restaurant operator's stock after selling 2,900 shares during the period. New York State Teachers Retirement System owned 0.12% of Texas Roadhouse worth $13,697,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TXRH. Norges Bank bought a new stake in shares of Texas Roadhouse during the fourth quarter valued at about $155,239,000. Congress Asset Management Co. increased its position in shares of Texas Roadhouse by 8,956.4% during the first quarter. Congress Asset Management Co. now owns 465,679 shares of the restaurant operator's stock valued at $77,596,000 after buying an additional 460,537 shares during the period. FMR LLC increased its position in shares of Texas Roadhouse by 44.8% during the fourth quarter. FMR LLC now owns 1,300,987 shares of the restaurant operator's stock valued at $234,737,000 after buying an additional 402,465 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of Texas Roadhouse by 255.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 520,352 shares of the restaurant operator's stock valued at $93,888,000 after buying an additional 373,812 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Texas Roadhouse by 19,250.9% during the first quarter. GAMMA Investing LLC now owns 325,095 shares of the restaurant operator's stock valued at $54,171,000 after buying an additional 323,415 shares during the period. 94.82% of the stock is currently owned by institutional investors.

Texas Roadhouse Stock Performance

TXRH traded down $2.63 during midday trading on Friday, hitting $188.50. The stock had a trading volume of 405,473 shares, compared to its average volume of 935,658. The company has a market cap of $12.51 billion, a P/E ratio of 29.09, a price-to-earnings-growth ratio of 2.53 and a beta of 0.87. The business has a fifty day moving average of $186.82 and a 200 day moving average of $178.54. Texas Roadhouse, Inc. has a 1 year low of $148.73 and a 1 year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The restaurant operator reported $1.70 earnings per share for the quarter, missing analysts' consensus estimates of $1.75 by ($0.05). The company had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.44 billion. Texas Roadhouse had a net margin of 7.89% and a return on equity of 32.33%. The business's revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the company posted $1.69 EPS. On average, equities research analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 3rd were paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Tuesday, June 3rd. Texas Roadhouse's dividend payout ratio (DPR) is presently 41.98%.

Analyst Ratings Changes

TXRH has been the topic of several analyst reports. The Goldman Sachs Group upped their price target on Texas Roadhouse from $184.00 to $205.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. decreased 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. Stifel Nicolaus cut their price objective on Texas Roadhouse from $172.00 to $170.00 and set a "hold" rating for the company in a report on Tuesday, April 15th. Truist Financial set a $212.00 price objective on Texas Roadhouse and gave the stock a "buy" rating in a report on Wednesday. Finally, Stephens reissued an "equal weight" rating and set a $170.00 price objective on shares of Texas Roadhouse in a report on Tuesday, June 10th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $192.05.

Insider Buying and Selling

In related news, Director Gregory N. Moore sold 1,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $187.62, for a total transaction of $187,620.00. Following the completion of the transaction, the director owned 38,050 shares in the company, valued at $7,138,941. This represents a 2.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donna E. Epps sold 800 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $186.52, for a total value of $149,216.00. Following the transaction, the director owned 4,632 shares of the company's stock, valued at approximately $863,960.64. This represents a 14.73% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company's stock.

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.