Teacher Retirement System of Texas Trims Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Teacher Retirement System of Texas cut its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 11.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 55,274 shares of the restaurant operator's stock after selling 7,265 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.08% of Texas Roadhouse worth $9,973,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kingsview Wealth Management LLC raised its position in Texas Roadhouse by 3.1% during the 3rd quarter. Kingsview Wealth Management LLC now owns 1,771 shares of the restaurant operator's stock valued at $313,000 after purchasing an additional 54 shares in the last quarter. Cornerstone Investment Partners LLC raised its holdings in shares of Texas Roadhouse by 2.7% in the fourth quarter. Cornerstone Investment Partners LLC now owns 2,159 shares of the restaurant operator's stock valued at $390,000 after acquiring an additional 56 shares in the last quarter. Lifestyle Asset Management Inc. raised its holdings in shares of Texas Roadhouse by 3.9% in the fourth quarter. Lifestyle Asset Management Inc. now owns 1,603 shares of the restaurant operator's stock valued at $289,000 after acquiring an additional 60 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Texas Roadhouse by 32.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator's stock worth $48,000 after acquiring an additional 65 shares during the period. Finally, Insight Wealth Partners LLC grew its holdings in Texas Roadhouse by 3.9% during the 3rd quarter. Insight Wealth Partners LLC now owns 1,818 shares of the restaurant operator's stock worth $321,000 after acquiring an additional 68 shares in the last quarter. Institutional investors own 94.82% of the company's stock.

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Analyst Upgrades and Downgrades

TXRH has been the subject of several research reports. Morgan Stanley raised shares of Texas Roadhouse from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $205.00 to $213.00 in a research report on Tuesday, January 21st. 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. The Goldman Sachs Group initiated coverage on Texas Roadhouse in a report on Thursday, December 5th. They issued a "neutral" rating and a $213.00 price target on the stock. Gordon Haskett cut Texas Roadhouse from a "buy" rating to a "hold" rating and set a $192.00 price objective for the company. in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. cut their target price on Texas Roadhouse from $185.00 to $184.00 and set a "neutral" rating on the stock in a research note on Thursday, March 20th. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $192.91.

Insider Activity at Texas Roadhouse

In other news, insider Christopher C. Colson sold 1,370 shares of the company's 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Hernan E. Mujica sold 2,050 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $170.66, for a total transaction of $349,853.00. Following the completion of the sale, the chief technology officer now directly owns 17,162 shares of the company's stock, valued at approximately $2,928,866.92. The trade was a 10.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,905 shares of company stock worth $3,198,367 in the last 90 days. Corporate insiders own 0.50% of the company's stock.

Texas Roadhouse Stock Performance

Texas Roadhouse stock traded down $0.79 during midday trading on Thursday, hitting $174.74. 712,396 shares of the company were exchanged, compared to its average volume of 815,735. The business has a fifty day simple moving average of $176.59 and a two-hundred day simple moving average of $181.48. The firm has a market capitalization of $11.61 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00. Texas Roadhouse, Inc. has a fifty-two week low of $146.75 and a fifty-two week high of $206.04.

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

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Texas Roadhouse's previous quarterly dividend of $0.61. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.56%. Texas Roadhouse's dividend payout ratio (DPR) is 42.04%.

About Texas Roadhouse

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.