Vestcor Inc Decreases Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Vestcor Inc lowered its position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 133,776 shares of the restaurant operator's stock after selling 6,280 shares during the quarter. Texas Roadhouse makes up about 0.8% of Vestcor Inc's holdings, making the stock its 21st biggest holding. Vestcor Inc owned about 0.20% of Texas Roadhouse worth $24,137,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. raised its holdings in Texas Roadhouse by 8,594.4% during the third quarter. Hantz Financial Services Inc. now owns 3,130 shares of the restaurant operator's stock worth $553,000 after purchasing an additional 3,094 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Texas Roadhouse during the third quarter worth approximately $17,853,000. Victory Capital Management Inc. increased its holdings in shares of Texas Roadhouse by 194.9% in the 3rd quarter. Victory Capital Management Inc. now owns 67,733 shares of the restaurant operator's stock valued at $11,962,000 after acquiring an additional 44,768 shares during the period. Chase Investment Counsel Corp acquired a new position in shares of Texas Roadhouse in the 4th quarter valued at $316,000. Finally, First Hawaiian Bank acquired a new position in shares of Texas Roadhouse in the 4th quarter valued at $1,554,000. Institutional investors and hedge funds own 94.82% of the company's stock.

Analyst Ratings Changes

TXRH has been the topic of a number of recent research reports. Stephens cut their target price on shares of Texas Roadhouse from $186.00 to $180.00 and set an "equal weight" rating on the stock in a report on Friday, February 21st. Truist Financial cut their target price on shares of Texas Roadhouse from $209.00 to $205.00 and set a "buy" rating on the stock in a report on Friday, February 21st. Wedbush cut their target price on shares of Texas Roadhouse from $220.00 to $200.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. Royal Bank of Canada cut their target price on shares of Texas Roadhouse from $200.00 to $180.00 and set a "sector perform" rating on the stock in a report on Friday, February 21st. Finally, Barclays cut their target price on shares of Texas Roadhouse from $194.00 to $178.00 and set an "equal weight" rating on the stock in a report on Friday, February 21st. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $192.73.

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Texas Roadhouse Stock Performance

Shares of NASDAQ TXRH opened at $175.39 on Thursday. The firm has a market capitalization of $11.65 billion, a P/E ratio of 27.11, a PEG ratio of 1.23 and a beta of 1.00. Texas Roadhouse, Inc. has a one year low of $146.75 and a one year high of $206.04. The company's fifty day moving average is $178.36 and its two-hundred day moving average is $181.16.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 EPS for the quarter, topping the consensus estimate of $1.66 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. On average, sell-side analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Texas Roadhouse's previous quarterly dividend of $0.61. This represents a $2.72 annualized dividend and a dividend yield of 1.55%. Texas Roadhouse's payout ratio is currently 42.04%.

Insider Buying and Selling

In other Texas Roadhouse news, Director Curtis Warfield sold 4,190 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $178.80, for a total value of $749,172.00. Following the transaction, the director now directly owns 10,082 shares in the company, valued at approximately $1,802,661.60. This represents a 29.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher C. Colson sold 1,370 shares of the company's stock in a transaction dated Friday, January 10th. The shares were 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 owns 10,000 shares in the company, valued at approximately $1,794,600. This trade represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,905 shares of company stock worth $3,198,367 in the last three months. Corporate insiders own 0.50% of the company's stock.

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.

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