Public Employees Retirement Association of Colorado Sells 42,300 Shares of Texas Roadhouse, Inc. $TXRH

Key Points

• Public Employees Retirement Association of Colorado cut its Texas Roadhouse stake by 27.1% in the fourth quarter, selling 42,300 shares and leaving it with 113,571 shares valued at about $18.85 million.
• Texas Roadhouse reported better-than-expected quarterly earnings, posting EPS of $1.87 versus $1.80 expected, while revenue rose 10.5% year over year to $1.63 billion.
• Analysts are broadly cautious on the stock, with a consensus rating of Hold and an average price target of $196.36, even as the company maintains a quarterly dividend of $0.75 per share.

Public Employees Retirement Association of Colorado trimmed its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 27.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,571 shares of the restaurant operator's stock after selling 42,300 shares during the quarter. Public Employees Retirement Association of Colorado owned approximately 0.17% of Texas Roadhouse worth $18,853,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of TXRH. NewEdge Advisors LLC grew its stake in Texas Roadhouse by 12.0% in the first quarter. NewEdge Advisors LLC now owns 2,423 shares of the restaurant operator's stock valued at $404,000 after purchasing an additional 259 shares in the last quarter. Focus Partners Wealth grew its stake in Texas Roadhouse by 23.3% in the first quarter. Focus Partners Wealth now owns 6,124 shares of the restaurant operator's stock valued at $1,020,000 after purchasing an additional 1,157 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Texas Roadhouse by 36.0% in the first quarter. Geneos Wealth Management Inc. now owns 419 shares of the restaurant operator's stock valued at $70,000 after purchasing an additional 111 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Texas Roadhouse in the second quarter valued at approximately $657,000. Finally, Marshall Wace LLP bought a new position in Texas Roadhouse in the second quarter valued at approximately $1,936,000. 94.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TXRH has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price target on Texas Roadhouse from $182.00 to $188.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Stifel Nicolaus raised their price objective on Texas Roadhouse from $170.00 to $180.00 and gave the company a "hold" rating in a research report on Tuesday, May 12th. Wall Street Zen upgraded Texas Roadhouse from a "sell" rating to a "hold" rating in a research note on Sunday, May 10th. BTIG Research reiterated a "buy" rating and set a $200.00 target price on shares of Texas Roadhouse in a research note on Friday, February 20th. Finally, BMO Capital Markets lifted their target price on Texas Roadhouse from $165.00 to $180.00 and gave the stock a "market perform" rating in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $196.36.

Texas Roadhouse Stock Performance

Shares of NASDAQ TXRH opened at $167.54 on Tuesday. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 0.03. Texas Roadhouse, Inc. has a 12 month low of $153.82 and a 12 month high of $197.00. The stock has a 50 day moving average of $168.42 and a 200-day moving average of $173.61. The company has a market capitalization of $11.01 billion, a P/E ratio of 26.76, a P/E/G ratio of 1.84 and a beta of 0.79.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its earnings results on Thursday, May 7th. The restaurant operator reported $1.87 EPS for the quarter, topping the consensus estimate of $1.80 by $0.07. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the previous year, the company posted $1.70 EPS. The firm's revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, equities research analysts predict that Texas Roadhouse, Inc. will post 6.4 EPS for the current year.

Texas Roadhouse Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 2nd will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, June 2nd. Texas Roadhouse's dividend payout ratio (DPR) is presently 47.92%.

Insider Buying and Selling at Texas Roadhouse

In related news, Director Gregory N. Moore sold 1,250 shares of Texas Roadhouse stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $178.14, for a total transaction of $222,675.00. Following the completion of the sale, the director directly owned 30,900 shares of the company's stock, valued at approximately $5,504,526. This trade represents a 3.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Curtis Warfield sold 2,640 shares of Texas Roadhouse stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $183.05, for a total value of $483,252.00. Following the sale, the director directly owned 5,361 shares of the company's stock, valued at approximately $981,331.05. The trade was a 33.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,178 shares of company stock worth $1,794,797 in the last 90 days. Company insiders own 0.50% of the company's stock.

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.

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