Vestcor Inc Trims Holdings in Texas Roadhouse, Inc. $TXRH

Key Points

• Vestcor Inc cut its Texas Roadhouse stake by 32.7% in the fourth quarter, selling 28,717 shares and ending with 59,092 shares valued at about $9.81 million.
• Texas Roadhouse’s latest quarterly results showed EPS of $1.87, topping estimates, while revenue came in at $1.63 billion, slightly below expectations but still up 10.5% year over year.
• The company declared a quarterly dividend of $0.75 per share to be paid June 30, for an annualized yield of about 1.8%, while analysts maintain a consensus rating of Hold with an average price target of $196.36.

Vestcor Inc lessened its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 32.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,092 shares of the restaurant operator's stock after selling 28,717 shares during the period. Vestcor Inc owned about 0.09% of Texas Roadhouse worth $9,809,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Elyxium Wealth LLC purchased a new position in Texas Roadhouse during the 4th quarter valued at about $25,000. Princeton Global Asset Management LLC purchased a new position in Texas Roadhouse during the 4th quarter valued at about $31,000. Measured Wealth Private Client Group LLC purchased a new position in Texas Roadhouse during the 3rd quarter valued at about $33,000. TD Private Client Wealth LLC increased its holdings in Texas Roadhouse by 137.5% during the 4th quarter. TD Private Client Wealth LLC now owns 266 shares of the restaurant operator's stock valued at $44,000 after purchasing an additional 154 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Texas Roadhouse by 36.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 419 shares of the restaurant operator's stock worth $70,000 after acquiring an additional 111 shares during the period. Hedge funds and other institutional investors own 94.82% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TXRH shares. Stephens upped their target price on Texas Roadhouse from $168.00 to $180.00 and gave the stock an "equal weight" rating in a report on Friday, February 20th. BMO Capital Markets upped their target price on Texas Roadhouse from $165.00 to $180.00 and gave the stock a "market perform" rating in a report on Thursday, May 21st. Citigroup reduced their target price on Texas Roadhouse from $176.00 to $174.00 and set a "neutral" rating on the stock in a report on Friday, May 8th. Benchmark reiterated a "hold" rating on shares of Texas Roadhouse in a report on Monday, February 23rd. Finally, Morgan Stanley reiterated an "overweight" rating and set a $201.00 target price on shares of Texas Roadhouse in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $196.36.

Texas Roadhouse Stock Performance

TXRH stock opened at $170.46 on Friday. The stock has a market capitalization of $11.20 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 1.77 and a beta of 0.79. Texas Roadhouse, Inc. has a 12-month low of $153.82 and a 12-month high of $197.00. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 0.03. The stock's 50 day simple moving average is $168.02 and its 200 day simple moving average is $173.76.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.07. The business had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.64 billion. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The firm's quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.70 EPS. As a group, research analysts forecast that Texas Roadhouse, Inc. will post 6.4 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 2nd will be given a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $3.00 annualized dividend and a yield of 1.8%. Texas Roadhouse's dividend payout ratio is 47.92%.

Insiders Place Their Bets

In related news, CTO Hernan E. Mujica sold 5,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief technology officer directly owned 15,552 shares of the company's stock, valued at approximately $2,643,840. This represents a 24.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Regina A. Tobin sold 4,450 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $171.00, for a total value of $760,950.00. Following the completion of the transaction, the president directly owned 13,778 shares in the company, valued at $2,356,038. This trade represents a 24.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 16,166 shares of company stock worth $2,813,705 in the last three months. Corporate insiders own 0.50% of the company's stock.

Texas Roadhouse Company 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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