California Public Employees Retirement System Sells 47,290 Shares of Texas Roadhouse, Inc. $TXRH

California Public Employees Retirement System reduced its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 27.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,142 shares of the restaurant operator’s stock after selling 47,290 shares during the period. California Public Employees Retirement System owned 0.19% of Texas Roadhouse worth $20,336,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC grew its holdings in Texas Roadhouse by 12.0% in the first quarter. NewEdge Advisors LLC now owns 2,423 shares of the restaurant operator’s stock worth $404,000 after purchasing an additional 259 shares during the period. Focus Partners Wealth lifted its holdings in shares of Texas Roadhouse by 23.3% during the first quarter. Focus Partners Wealth now owns 6,124 shares of the restaurant operator’s stock valued at $1,020,000 after purchasing an additional 1,157 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Texas Roadhouse by 36.0% during the first quarter. Geneos Wealth Management Inc. now owns 419 shares of the restaurant operator’s stock valued at $70,000 after purchasing an additional 111 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Texas Roadhouse in the 2nd quarter worth approximately $657,000. Finally, Marshall Wace LLP bought a new stake in shares of Texas Roadhouse in the 2nd quarter worth approximately $1,936,000. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Price Performance

Shares of NASDAQ TXRH opened at $191.43 on Thursday. The firm has a market cap of $12.58 billion, a P/E ratio of 30.58, a PEG ratio of 2.15 and a beta of 0.78. Texas Roadhouse, Inc. has a twelve month low of $153.82 and a twelve month high of $200.11. The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $181.26 and a 200 day moving average of $177.11.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, May 7th. The restaurant operator reported $1.87 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 the consensus estimate of $1.64 billion. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The company’s revenue was up 10.5% compared to the same quarter last year. During the same period last year, the business posted $1.70 EPS. As a group, research analysts expect that Texas Roadhouse, Inc. will post 6.45 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, June 2nd. Texas Roadhouse’s dividend payout ratio is presently 47.92%.

Insider Activity at Texas Roadhouse

In related news, insider Christopher C. Colson sold 499 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $179.22, for a total transaction of $89,430.78. Following the sale, the insider directly owned 14,500 shares of the company’s stock, valued at $2,598,690. This trade represents a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lloyd Paul Marshall sold 1,000 shares of Texas Roadhouse stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $178.34, for a total value of $178,340.00. Following the completion of the sale, the insider owned 10,326 shares of the company’s stock, valued at $1,841,538.84. The trade was a 8.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 6,154 shares of company stock valued at $1,115,864 over the last three months. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

TXRH has been the topic of several recent research reports. Barclays cut their price target on Texas Roadhouse from $188.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. Guggenheim reissued a “buy” rating and issued a $210.00 target price on shares of Texas Roadhouse in a report on Monday, May 18th. JPMorgan Chase & Co. increased their target price on Texas Roadhouse from $182.00 to $188.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Stifel Nicolaus increased their target price on Texas Roadhouse from $170.00 to $180.00 and gave the stock a “hold” rating in a research note on Tuesday, May 12th. Finally, BMO Capital Markets raised their price target on Texas Roadhouse from $165.00 to $180.00 and gave the company a “market perform” rating in a report on Thursday, May 21st. Ten investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $194.90.

Texas Roadhouse 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.