Texas Roadhouse, Inc. $TXRH Holdings Lowered by Vestcor Inc

Vestcor Inc lowered its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,809 shares of the restaurant operator’s stock after selling 2,982 shares during the quarter. Vestcor Inc owned approximately 0.13% of Texas Roadhouse worth $14,589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Symphony Financial Ltd. Co. acquired a new stake in shares of Texas Roadhouse during the second quarter valued at approximately $28,465,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Texas Roadhouse by 2,515.2% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 417,045 shares of the restaurant operator’s stock worth $78,158,000 after purchasing an additional 401,098 shares during the period. Caprock Group LLC acquired a new position in Texas Roadhouse in the 3rd quarter worth approximately $1,070,000. Westfield Capital Management Co. LP grew its position in Texas Roadhouse by 0.5% during the 2nd quarter. Westfield Capital Management Co. LP now owns 705,622 shares of the restaurant operator’s stock worth $132,241,000 after purchasing an additional 3,574 shares in the last quarter. Finally, Bfsg LLC grew its position in Texas Roadhouse by 111.1% during the 3rd quarter. Bfsg LLC now owns 29,798 shares of the restaurant operator’s stock worth $4,951,000 after purchasing an additional 15,682 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

Insider Activity at Texas Roadhouse

In related news, CEO Gerald L. Morgan sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $196.00, for a total value of $980,000.00. Following the completion of the sale, the chief executive officer owned 91,774 shares of the company’s stock, valued at approximately $17,987,704. The trade was a 5.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Donna E. Epps sold 850 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $172.45, for a total value of $146,582.50. Following the completion of the transaction, the director owned 4,892 shares in the company, valued at $843,625.40. This represents a 14.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 12,550 shares of company stock valued at $2,353,936. 0.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. TD Cowen started coverage on Texas Roadhouse in a report on Tuesday, January 20th. They issued a “buy” rating and a $215.00 target price for the company. Barclays set a $188.00 price objective on Texas Roadhouse in a research report on Friday, February 20th. BTIG Research reaffirmed a “buy” rating and set a $200.00 target price on shares of Texas Roadhouse in a research note on Friday, February 20th. Sanford C. Bernstein set a $185.00 target price on Texas Roadhouse in a report on Wednesday, January 7th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $165.00 price target on shares of Texas Roadhouse in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat.com, Texas Roadhouse currently has a consensus rating of “Moderate Buy” and a consensus target price of $196.55.

Texas Roadhouse Trading Down 2.0%

NASDAQ TXRH opened at $171.54 on Monday. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $199.99. The firm’s fifty day simple moving average is $182.52 and its 200-day simple moving average is $173.69. The company has a market capitalization of $11.35 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, February 19th. The restaurant operator reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.25). Texas Roadhouse had a net margin of 6.90% and a return on equity of 27.88%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business posted $1.73 EPS. Texas Roadhouse’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.75 per share. The ex-dividend date is Tuesday, March 17th. This represents a $3.00 annualized dividend and a dividend yield of 1.7%. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.68. Texas Roadhouse’s dividend payout ratio is presently 44.66%.

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.