State of New Jersey Common Pension Fund D Lowers Stake in Texas Roadhouse, Inc. $TXRH

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Texas Roadhouse, Inc. by 12.7% in the first quarter, now holding 20,473 shares valued at approximately $3.41 million.
• Texas Roadhouse reported a miss in earnings per share at $1.86 for the quarter, under the analysts' expectations of $1.95, despite a year-over-year revenue increase of 12.7%.
• The company announced a quarterly dividend of $0.68 per share, with an ex-dividend date on September 2nd, reflecting a dividend yield of 1.6%.

State of New Jersey Common Pension Fund D cut its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 12.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,473 shares of the restaurant operator's stock after selling 2,986 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Texas Roadhouse were worth $3,411,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Valeo Financial Advisors LLC lifted its stake in shares of Texas Roadhouse by 2.3% during the 1st quarter. Valeo Financial Advisors LLC now owns 2,750 shares of the restaurant operator's stock worth $458,000 after purchasing an additional 62 shares during the last quarter. Optas LLC raised its holdings in Texas Roadhouse by 1.3% in the first quarter. Optas LLC now owns 5,217 shares of the restaurant operator's stock worth $869,000 after purchasing an additional 65 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Texas Roadhouse by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 13,627 shares of the restaurant operator's stock valued at $2,271,000 after buying an additional 66 shares during the last quarter. Coppell Advisory Solutions LLC boosted its holdings in shares of Texas Roadhouse by 56.8% in the 4th quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator's stock valued at $35,000 after buying an additional 71 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Texas Roadhouse by 3.6% in the 1st quarter. Blue Trust Inc. now owns 2,309 shares of the restaurant operator's stock worth $385,000 after buying an additional 80 shares during the last quarter. 94.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Texas Roadhouse news, Director Donna E. Epps sold 800 shares of Texas Roadhouse stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $186.52, for a total transaction of $149,216.00. Following the completion of the transaction, the director owned 4,632 shares in the company, valued at approximately $863,960.64. This trade represents a 14.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gregory N. Moore sold 3,000 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $173.06, for a total value of $519,180.00. Following the completion of the transaction, the director directly owned 34,550 shares of the company's stock, valued at approximately $5,979,223. This trade represents a 7.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,953 shares of company stock valued at $1,215,536 over the last 90 days. Insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TXRH. Citigroup increased their target price on shares of Texas Roadhouse from $180.00 to $197.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. UBS Group increased their price objective on Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a report on Friday, June 6th. Stephens boosted their target price on Texas Roadhouse from $184.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Friday, August 8th. Barclays upped their target price on Texas Roadhouse from $175.00 to $189.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Finally, Bank of America raised their price target on Texas Roadhouse from $203.00 to $219.00 and gave the stock a "buy" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $197.85.

Texas Roadhouse Stock Down 1.5%

Shares of NASDAQ:TXRH opened at $173.23 on Thursday. Texas Roadhouse, Inc. has a 52-week low of $148.73 and a 52-week high of $206.04. The stock has a market cap of $11.51 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 2.40 and a beta of 0.86. The business has a 50-day moving average price of $184.64 and a 200-day moving average price of $178.89.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its earnings results on Thursday, August 7th. The restaurant operator reported $1.86 EPS for the quarter, missing analysts' consensus estimates of $1.95 by ($0.09). Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The firm had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the prior year, the company earned $1.79 EPS. Texas Roadhouse's quarterly revenue was up 12.7% on a year-over-year basis. As a group, equities analysts anticipate that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Roadhouse's dividend payout ratio (DPR) is 41.53%.

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.

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