Texas Roadhouse, Inc. (NASDAQ:TXRH) Shares Sold by Vestcor Inc

Vestcor Inc lowered its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 4.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,776 shares of the restaurant operator’s stock after selling 6,280 shares during the quarter. Texas Roadhouse comprises about 0.8% of Vestcor Inc’s holdings, making the stock its 21st largest position. Vestcor Inc’s holdings in Texas Roadhouse were worth $24,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC purchased a new position in Texas Roadhouse in the 3rd quarter worth approximately $30,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Texas Roadhouse in the 4th quarter worth approximately $30,000. SBI Securities Co. Ltd. purchased a new position in Texas Roadhouse in the 4th quarter worth approximately $36,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Texas Roadhouse by 32.2% in the 4th 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, First Horizon Advisors Inc. boosted its holdings in Texas Roadhouse by 158.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 302 shares of the restaurant operator’s stock worth $53,000 after acquiring an additional 185 shares during the period. Institutional investors and hedge funds own 94.82% of the company’s stock.

Analyst Upgrades and Downgrades

TXRH has been the subject of several research analyst reports. Royal Bank of Canada reduced their target price 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. Guggenheim reduced their target price on Texas Roadhouse from $205.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Stifel Nicolaus reduced their target price on Texas Roadhouse from $185.00 to $172.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Wedbush reduced their target price on Texas Roadhouse from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Finally, Truist Financial reduced their price objective on Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a research note 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 has an average rating of “Moderate Buy” and a consensus target price of $192.73.

Insiders Place Their Bets

In other Texas Roadhouse news, insider Christopher C. Colson sold 580 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $181.94, for a total transaction of $105,525.20. Following the completion of the sale, the insider now directly owns 12,000 shares in the company, valued at approximately $2,183,280. This trade represents a 4.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Regina A. Tobin sold 3,154 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $185.64, for a total value of $585,508.56. Following the sale, the president now owns 18,414 shares of the company’s stock, valued at $3,418,374.96. The trade was a 14.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,905 shares of company stock worth $3,198,367. 0.50% of the stock is currently owned by company insiders.

Texas Roadhouse Stock Down 1.0 %

NASDAQ:TXRH opened at $175.39 on Thursday. Texas Roadhouse, Inc. has a 52-week low of $146.75 and a 52-week high of $206.04. The firm has a market cap of $11.65 billion, a P/E ratio of 27.11, a PEG ratio of 1.23 and a beta of 1.00. The business’s 50-day moving average price is $178.36 and its 200 day moving average price is $181.16.

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

Texas Roadhouse Increases Dividend

The business also recently declared 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. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.61. The ex-dividend date is Tuesday, March 18th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.55%. 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.