Optas LLC Makes New Investment in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Optas LLC purchased a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) during the third quarter, Holdings Channel reports. The fund purchased 6,916 shares of the restaurant operator’s stock, valued at approximately $1,221,000.

A number of other institutional investors have also recently made changes to their positions in the stock. New York State Common Retirement Fund increased its holdings in shares of Texas Roadhouse by 24.4% in the 3rd quarter. New York State Common Retirement Fund now owns 190,909 shares of the restaurant operator’s stock worth $33,715,000 after buying an additional 37,490 shares during the last quarter. US Bancorp DE lifted its stake in Texas Roadhouse by 1.1% during the third quarter. US Bancorp DE now owns 13,375 shares of the restaurant operator’s stock worth $2,362,000 after purchasing an additional 150 shares during the last quarter. Congress Asset Management Co. lifted its stake in Texas Roadhouse by 144.0% during the third quarter. Congress Asset Management Co. now owns 5,242 shares of the restaurant operator’s stock worth $926,000 after purchasing an additional 3,094 shares during the last quarter. New York State Teachers Retirement System lifted its stake in Texas Roadhouse by 0.8% during the third quarter. New York State Teachers Retirement System now owns 90,698 shares of the restaurant operator’s stock worth $16,017,000 after purchasing an additional 760 shares during the last quarter. Finally, abrdn plc lifted its stake in Texas Roadhouse by 33.8% during the third quarter. abrdn plc now owns 212,039 shares of the restaurant operator’s stock worth $37,446,000 after purchasing an additional 53,549 shares during the last quarter. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Price Performance

Shares of NASDAQ:TXRH opened at $187.52 on Friday. Texas Roadhouse, Inc. has a 1 year low of $101.73 and a 1 year high of $196.29. The company has a market cap of $12.50 billion, a PE ratio of 32.22, a P/E/G ratio of 1.63 and a beta of 0.98. The stock’s 50-day moving average is $174.66 and its 200 day moving average is $169.90.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.06). The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The business’s revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.95 earnings per share. Analysts expect that Texas Roadhouse, Inc. will post 6.37 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.61 per share. The ex-dividend date was Wednesday, September 4th. This represents a $2.44 annualized dividend and a yield of 1.30%. Texas Roadhouse’s payout ratio is 41.92%.

Analyst Ratings Changes

TXRH has been the subject of several research analyst reports. Stephens lifted their price target on Texas Roadhouse from $170.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. dropped their price target on Texas Roadhouse from $184.00 to $180.00 and set a “neutral” rating for the company in a research note on Monday, July 29th. Evercore ISI lifted their price target on Texas Roadhouse from $195.00 to $200.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Guggenheim lifted their price target on Texas Roadhouse from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, Stifel Nicolaus lifted their price objective on Texas Roadhouse from $180.00 to $195.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $189.00.

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.