Vestcor Inc Lowers Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Key Points

• Vestcor Inc has reduced its holdings in Texas Roadhouse by 3.2%, selling 4,241 shares and now owning a total of 129,535 shares valued at approximately $21.58 million.
• Multiple institutional investors, including Norges Bank and Congress Asset Management Co., significantly increased their stakes in Texas Roadhouse, highlighting robust investor interest.
• Analysts have set new price targets for Texas Roadhouse, with the consensus target price being $196.85, reflecting a generally favorable outlook on the stock.

Vestcor Inc lessened its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 3.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 129,535 shares of the restaurant operator's stock after selling 4,241 shares during the quarter. Texas Roadhouse makes up approximately 0.7% of Vestcor Inc's portfolio, making the stock its 26th biggest holding. Vestcor Inc owned 0.19% of Texas Roadhouse worth $21,584,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Invesco Ltd. lifted its holdings in Texas Roadhouse by 5.9% during the 4th quarter. Invesco Ltd. now owns 2,479,323 shares of the restaurant operator's stock worth $447,344,000 after purchasing an additional 138,675 shares in the last quarter. FMR LLC lifted its holdings in shares of Texas Roadhouse by 44.8% in the fourth quarter. FMR LLC now owns 1,300,987 shares of the restaurant operator's stock worth $234,737,000 after buying an additional 402,465 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Texas Roadhouse by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,207,645 shares of the restaurant operator's stock valued at $217,959,000 after acquiring an additional 6,004 shares during the period. Franklin Resources Inc. grew its stake in Texas Roadhouse by 8.1% during the fourth quarter. Franklin Resources Inc. now owns 966,611 shares of the restaurant operator's stock valued at $174,406,000 after acquiring an additional 72,686 shares in the last quarter. Finally, Norges Bank bought a new stake in Texas Roadhouse during the 4th quarter worth approximately $155,239,000. 94.82% of the stock is owned by institutional investors.

Texas Roadhouse Trading Down 1.2%

Shares of NASDAQ:TXRH traded down $2.16 during trading on Friday, reaching $182.97. 1,110,680 shares of the company traded hands, compared to its average volume of 723,651. Texas Roadhouse, Inc. has a 52-week low of $148.73 and a 52-week high of $206.04. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 28.24, a P/E/G ratio of 2.61 and a beta of 0.86. The business's fifty day moving average is $189.10 and its 200-day moving average is $179.13.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($0.05). The firm had revenue of $1.45 billion during 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%. Texas Roadhouse's revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.69 EPS. On average, sell-side analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 3rd were issued a $0.68 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $2.72 annualized dividend and a yield of 1.5%. Texas Roadhouse's dividend payout ratio (DPR) is 41.98%.

Insider Activity at Texas Roadhouse

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

Analysts Set New Price Targets

TXRH has been the subject of a number of recent analyst reports. Truist Financial set a $212.00 price target on shares of Texas Roadhouse and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Texas Roadhouse in a research report on Tuesday, July 15th. Guggenheim upped their price objective on shares of Texas Roadhouse from $200.00 to $210.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Morgan Stanley boosted their price target on shares of Texas Roadhouse from $200.00 to $205.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Finally, The Goldman Sachs Group raised their price objective on shares of Texas Roadhouse from $184.00 to $205.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $196.85.

Texas Roadhouse Profile

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.