California Public Employees Retirement System Increases Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

California Public Employees Retirement System raised its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 318,086 shares of the restaurant operator's stock after purchasing an additional 4,610 shares during the period. California Public Employees Retirement System owned approximately 0.48% of Texas Roadhouse worth $57,392,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TXRH. Norges Bank bought a new stake in shares of Texas Roadhouse during the 4th quarter worth approximately $155,239,000. FMR LLC lifted its stake in Texas Roadhouse by 81.6% during the third quarter. FMR LLC now owns 898,522 shares of the restaurant operator's stock worth $158,679,000 after purchasing an additional 403,720 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Texas Roadhouse by 76.0% in the 3rd quarter. Franklin Resources Inc. now owns 893,925 shares of the restaurant operator's stock valued at $157,375,000 after purchasing an additional 385,998 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Texas Roadhouse in the 4th quarter valued at $55,177,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Texas Roadhouse by 29.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 819,522 shares of the restaurant operator's stock worth $147,866,000 after buying an additional 184,250 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Guggenheim dropped their price objective on shares of Texas Roadhouse from $205.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. cut their price objective on Texas Roadhouse from $185.00 to $184.00 and set a "neutral" rating on the stock in a report on Thursday, March 20th. Stifel Nicolaus lowered their target price on Texas Roadhouse from $185.00 to $172.00 and set a "hold" rating for the company in a report on Friday, February 21st. Royal Bank of Canada lowered their price objective on Texas Roadhouse from $200.00 to $180.00 and set a "sector perform" rating for the company in a research note on Friday, February 21st. Finally, Wedbush upped their price target on shares of Texas Roadhouse from $200.00 to $210.00 and gave the company an "outperform" rating in a research report on Friday, March 28th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $193.36.

Texas Roadhouse Price Performance

Shares of NASDAQ:TXRH traded down $7.19 during trading on Friday, hitting $159.86. The company's stock had a trading volume of 1,929,890 shares, compared to its average volume of 851,029. The firm has a market cap of $10.62 billion, a price-to-earnings ratio of 24.71, a P/E/G ratio of 1.23 and a beta of 0.88. The company has a 50-day moving average of $175.08 and a 200-day moving average of $181.90. Texas Roadhouse, Inc. has a 12 month low of $146.75 and a 12 month high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.07. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.41 billion. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. As a group, research analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were given a dividend of $0.68 per share. The ex-dividend date was Tuesday, March 18th. This is an increase from Texas Roadhouse's previous quarterly dividend of $0.61. This represents a $2.72 annualized dividend and a yield of 1.70%. Texas Roadhouse's payout ratio is 42.04%.

Insider Buying and Selling at Texas Roadhouse

In related news, President Regina A. Tobin sold 3,154 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $185.64, for a total transaction of $585,508.56. Following the completion of the transaction, the president now directly owns 18,414 shares in the company, valued at approximately $3,418,374.96. The trade was a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher C. Colson sold 1,370 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $179.46, for a total transaction of $245,860.20. Following the completion of the sale, the insider now directly owns 10,000 shares of the company's stock, valued at $1,794,600. This represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,905 shares of company stock valued at $3,198,367. Company insiders own 0.50% of the company's stock.

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.