New York State Teachers Retirement System Sells 6,900 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

New York State Teachers Retirement System reduced its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,638 shares of the restaurant operator's stock after selling 6,900 shares during the quarter. New York State Teachers Retirement System owned 0.15% of Texas Roadhouse worth $11,934,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Operose Advisors LLC acquired a new stake in Texas Roadhouse in the third quarter worth $28,000. Quarry LP increased its position in Texas Roadhouse by 100.6% in the second quarter. Quarry LP now owns 364 shares of the restaurant operator's stock worth $41,000 after buying an additional 60,364 shares during the period. Neo Ivy Capital Management acquired a new stake in Texas Roadhouse in the second quarter worth $32,000. Belpointe Asset Management LLC increased its position in Texas Roadhouse by 71.9% in the first quarter. Belpointe Asset Management LLC now owns 459 shares of the restaurant operator's stock worth $50,000 after buying an additional 192 shares during the period. Finally, Fifth Third Bancorp increased its position in Texas Roadhouse by 35.8% in the third quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator's stock worth $46,000 after buying an additional 125 shares during the period. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Texas Roadhouse Stock Performance

Shares of NASDAQ:TXRH traded up $0.15 during midday trading on Wednesday, reaching $149.41. The company had a trading volume of 827,075 shares, compared to its average volume of 799,026. The company has a fifty day simple moving average of $146.26 and a two-hundred day simple moving average of $122.53. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 1.66 and a beta of 0.99. Texas Roadhouse, Inc. has a 1-year low of $91.06 and a 1-year high of $157.12.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The restaurant operator reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. Texas Roadhouse had a return on equity of 27.43% and a net margin of 6.58%. The business's revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.89 EPS. Analysts expect that Texas Roadhouse, Inc. will post 5.71 EPS for the current year.

Texas Roadhouse Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 13th were paid a $0.61 dividend. This is an increase from Texas Roadhouse's previous quarterly dividend of $0.55. This represents a $2.44 annualized dividend and a yield of 1.63%. The ex-dividend date was Tuesday, March 12th. Texas Roadhouse's dividend payout ratio is currently 53.86%.

Insider Buying and Selling

In other news, insider Christopher C. Colson sold 405 shares of the firm's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $149.05, for a total transaction of $60,365.25. Following the completion of the sale, the insider now directly owns 8,500 shares of the company's stock, valued at approximately $1,266,925. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Curtis Warfield sold 2,365 shares of the firm's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $148.68, for a total transaction of $351,628.20. Following the completion of the sale, the director now directly owns 13,397 shares of the company's stock, valued at approximately $1,991,865.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher C. Colson sold 405 shares of the firm's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $149.05, for a total value of $60,365.25. Following the sale, the insider now directly owns 8,500 shares of the company's stock, valued at $1,266,925. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,382 shares of company stock valued at $1,843,145. Corporate insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wells Fargo & Company raised their price target on Texas Roadhouse from $125.00 to $140.00 and gave the company an "equal weight" rating in a report on Friday, February 16th. Piper Sandler raised their price target on Texas Roadhouse from $110.00 to $136.00 and gave the company a "neutral" rating in a report on Tuesday, February 20th. Robert W. Baird raised Texas Roadhouse from a "neutral" rating to an "outperform" rating and raised their target price for the company from $160.00 to $175.00 in a research note on Wednesday, March 13th. JPMorgan Chase & Co. raised their target price on Texas Roadhouse from $142.00 to $145.00 and gave the company a "neutral" rating in a research note on Tuesday, March 19th. Finally, Stephens raised their target price on Texas Roadhouse from $105.00 to $135.00 and gave the company an "equal weight" rating in a research note on Friday, February 16th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $133.55.

Texas Roadhouse Company 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.