Texas Roadhouse, Inc. (NASDAQ:TXRH) Position Lifted by Retirement Systems of Alabama

Retirement Systems of Alabama grew its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 167,341 shares of the restaurant operator’s stock after purchasing an additional 298 shares during the quarter. Retirement Systems of Alabama owned approximately 0.25% of Texas Roadhouse worth $20,454,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Red Spruce Capital LLC increased its stake in Texas Roadhouse by 0.5% during the fourth quarter. Red Spruce Capital LLC now owns 22,359 shares of the restaurant operator’s stock valued at $2,733,000 after purchasing an additional 110 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in shares of Texas Roadhouse by 3.2% in the 4th quarter. Avior Wealth Management LLC now owns 3,579 shares of the restaurant operator’s stock valued at $437,000 after buying an additional 111 shares during the period. Fifth Third Bancorp grew its position in shares of Texas Roadhouse by 35.8% during the 3rd quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock valued at $46,000 after buying an additional 125 shares during the last quarter. Prospector Partners LLC raised its stake in Texas Roadhouse by 0.4% during the third quarter. Prospector Partners LLC now owns 34,575 shares of the restaurant operator’s stock worth $3,323,000 after acquiring an additional 150 shares during the period. Finally, Treasurer of the State of North Carolina raised its stake in Texas Roadhouse by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 29,360 shares of the restaurant operator’s stock worth $2,821,000 after acquiring an additional 150 shares during the period. Institutional investors own 94.82% of the company’s stock.

Insider Transactions at Texas Roadhouse

In other Texas Roadhouse news, Director Curtis Warfield sold 2,365 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $148.68, for a total transaction of $351,628.20. Following the transaction, the director now directly owns 13,397 shares in the company, valued at $1,991,865.96. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Christopher C. Colson sold 405 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $149.05, for a total transaction of $60,365.25. Following the completion of the sale, the insider now directly owns 8,500 shares of the company’s stock, valued at approximately $1,266,925. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Curtis Warfield sold 2,365 shares of Texas Roadhouse stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $148.68, for a total transaction of $351,628.20. Following the completion of the transaction, the director now owns 13,397 shares in the company, valued at approximately $1,991,865.96. The disclosure for this sale can be found here. Insiders have sold a total of 12,382 shares of company stock worth $1,843,145 in the last 90 days. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TXRH shares. Robert W. Baird raised shares of Texas Roadhouse from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $160.00 to $175.00 in a report on Wednesday, March 13th. Piper Sandler raised their price target on shares of Texas Roadhouse from $110.00 to $136.00 and gave the company a “neutral” rating in a research note on Tuesday, February 20th. Morgan Stanley lifted their target price on Texas Roadhouse from $135.00 to $145.00 and gave the company an “equal weight” rating in a research note on Friday, April 12th. Wedbush increased their price target on Texas Roadhouse from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Finally, Benchmark began coverage on shares of Texas Roadhouse in a research note on Wednesday, April 10th. They set a “hold” rating on the stock. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $138.76.

Texas Roadhouse Price Performance

Shares of TXRH opened at $159.21 on Tuesday. The company has a market capitalization of $10.64 billion, a price-to-earnings ratio of 35.15, a P/E/G ratio of 1.71 and a beta of 0.99. The business’s 50-day moving average is $151.53 and its 200-day moving average is $128.18. Texas Roadhouse, Inc. has a fifty-two week low of $91.06 and a fifty-two week high of $160.52.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, February 15th. The restaurant operator reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. Texas Roadhouse had a net margin of 6.58% and a return on equity of 27.43%. Texas Roadhouse’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 earnings per share. Equities research analysts expect that Texas Roadhouse, Inc. will post 5.77 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 1.53%. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Tuesday, March 12th. Texas Roadhouse’s payout ratio is currently 53.86%.

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.