New York State Teachers Retirement System Has $12.26 Million Holdings in Texas Roadhouse, Inc. $TXRH

Key Points

• New York State Teachers Retirement System trimmed its stake in Texas Roadhouse by 8.3%, holding 73,874 shares valued at about $12.26 million after selling 6,673 shares in the quarter.
• Texas Roadhouse missed quarterly expectations (EPS $1.28 vs. $1.53 consensus; revenue $1.48B vs. $1.50B) but boosted its quarterly dividend to $0.75 ($3.00 annualized, ~1.9% yield).
• Institutional investors own 94.82% of TXRH; analysts have an average rating of "Moderate Buy" with an average target price of $195.14 while the stock recently traded around $158 (12‑month high $199.99).

New York State Teachers Retirement System lowered its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 8.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 73,874 shares of the restaurant operator's stock after selling 6,673 shares during the quarter. New York State Teachers Retirement System owned 0.11% of Texas Roadhouse worth $12,263,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TXRH. Oak Thistle LLC bought a new stake in shares of Texas Roadhouse in the fourth quarter valued at about $1,553,000. Capital World Investors lifted its holdings in shares of Texas Roadhouse by 580.2% in the third quarter. Capital World Investors now owns 2,236,885 shares of the restaurant operator's stock valued at $371,658,000 after purchasing an additional 1,908,033 shares in the last quarter. Caprock Group LLC bought a new stake in shares of Texas Roadhouse in the third quarter valued at about $1,070,000. Bfsg LLC lifted its holdings in shares of Texas Roadhouse by 111.1% in the third quarter. Bfsg LLC now owns 29,798 shares of the restaurant operator's stock valued at $4,951,000 after purchasing an additional 15,682 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Texas Roadhouse by 101.0% in the third quarter. Sequoia Financial Advisors LLC now owns 5,377 shares of the restaurant operator's stock valued at $893,000 after purchasing an additional 2,702 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TXRH. Morgan Stanley set a $199.00 target price on shares of Texas Roadhouse in a report on Tuesday, April 21st. Sanford C. Bernstein set a $185.00 price target on Texas Roadhouse in a research report on Wednesday, January 7th. BMO Capital Markets reissued a "market perform" rating and set a $165.00 price target on shares of Texas Roadhouse in a research report on Friday, February 20th. KeyCorp reissued a "sector weight" rating on shares of Texas Roadhouse in a research report on Friday, February 20th. Finally, BTIG Research reissued a "buy" rating and set a $200.00 price target on shares of Texas Roadhouse in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $195.14.

Texas Roadhouse Price Performance

Shares of TXRH stock opened at $158.29 on Monday. Texas Roadhouse, Inc. has a 12-month low of $156.00 and a 12-month high of $199.99. The company has a market capitalization of $10.44 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 1.81 and a beta of 0.77. The firm has a 50 day moving average price of $168.05 and a two-hundred day moving average price of $172.98.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The restaurant operator reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.25). The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. Texas Roadhouse had a net margin of 6.90% and a return on equity of 27.88%. The business's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.73 earnings per share. As a group, research analysts expect that Texas Roadhouse, Inc. will post 6.34 EPS for the current year.

Texas Roadhouse Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were issued a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $3.00 dividend on an annualized basis and a yield of 1.9%. This is an increase from Texas Roadhouse's previous quarterly dividend of $0.68. Texas Roadhouse's payout ratio is presently 49.26%.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, CTO Hernan E. Mujica sold 5,000 shares of Texas Roadhouse stock in a transaction on Friday, March 13th. The stock was sold at an average price of $170.00, for a total value of $850,000.00. Following the completion of the transaction, the chief technology officer directly owned 15,552 shares of the company's stock, valued at $2,643,840. The trade was a 24.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Donna E. Epps sold 850 shares of the company's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $172.45, for a total value of $146,582.50. Following the sale, the director owned 4,892 shares of the company's stock, valued at approximately $843,625.40. The trade was a 14.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 12,988 shares of company stock valued at $2,218,144. 0.50% of the stock is currently owned by company insiders.

Texas Roadhouse Profile

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.