Louisiana State Employees Retirement System decreased its position in Texas Roadhouse Inc. (NASDAQ:TXRH) by 39.8% during the second quarter, Holdings Channel reports. The institutional investor owned 16,800 shares of the company’s stock after selling 11,100 shares during the period. Louisiana State Employees Retirement System’s holdings in Texas Roadhouse were worth $766,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of TXRH. JPMorgan Chase & Co. raised its stake in Texas Roadhouse by 482.9% in the first quarter. JPMorgan Chase & Co. now owns 280,240 shares of the company’s stock worth $12,212,000 after buying an additional 232,165 shares in the last quarter. Bessemer Group Inc. raised its stake in Texas Roadhouse by 83,213.5% in the first quarter. Bessemer Group Inc. now owns 166,627 shares of the company’s stock worth $7,262,000 after buying an additional 166,427 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Texas Roadhouse by 52.2% in the first quarter. Goldman Sachs Group Inc. now owns 332,245 shares of the company’s stock worth $14,479,000 after buying an additional 114,010 shares in the last quarter. Kennedy Capital Management Inc. raised its stake in Texas Roadhouse by 183.9% in the first quarter. Kennedy Capital Management Inc. now owns 164,724 shares of the company’s stock worth $7,179,000 after buying an additional 106,699 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in Texas Roadhouse by 41.6% in the first quarter. Prudential Financial Inc. now owns 276,623 shares of the company’s stock worth $12,055,000 after buying an additional 81,305 shares in the last quarter. Institutional investors own 88.84% of the company’s stock.
Texas Roadhouse Inc. (NASDAQ:TXRH) traded down 0.50% during midday trading on Friday, reaching $37.98. 950,019 shares of the company’s stock were exchanged. Texas Roadhouse Inc. has a 12-month low of $33.06 and a 12-month high of $49.00. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 23.89 and a beta of 0.54. The stock’s 50-day moving average is $42.62 and its 200-day moving average is $44.16.
Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.02. The company had revenue of $509 million for the quarter, compared to analysts’ expectations of $509.80 million. Texas Roadhouse had a net margin of 5.88% and a return on equity of 16.78%. Texas Roadhouse’s revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 EPS. On average, equities analysts forecast that Texas Roadhouse Inc. will post $1.78 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th were paid a $0.19 dividend. The ex-dividend date of this dividend was Monday, September 12th. This represents a $0.76 annualized dividend and a yield of 2.00%. Texas Roadhouse’s dividend payout ratio is currently 48.10%.
A number of analysts have recently weighed in on TXRH shares. KeyCorp reiterated a “buy” rating and set a $50.00 target price on shares of Texas Roadhouse in a report on Tuesday, August 16th. Jefferies Group lowered shares of Texas Roadhouse from a “hold” rating to an “underperform” rating and set a $37.00 target price for the company. in a report on Tuesday, July 26th. Zacks Investment Research upgraded shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a report on Saturday, July 30th. Stifel Nicolaus lowered shares of Texas Roadhouse from a “buy” rating to a “hold” rating and dropped their target price for the stock from $50.00 to $47.00 in a report on Tuesday, July 26th. Finally, Canaccord Genuity started coverage on shares of Texas Roadhouse in a report on Monday, August 22nd. They set a “hold” rating and a $48.00 target price for the company. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $43.78.
In other news, CEO Wayne Kent Taylor sold 150,000 shares of the company’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $46.03, for a total transaction of $6,904,500.00. Following the transaction, the chief executive officer now directly owns 4,363,261 shares of the company’s stock, valued at approximately $200,840,903.83. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James R. Zarley purchased 23,800 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were bought at an average cost of $42.23 per share, for a total transaction of $1,005,074.00. Following the completion of the purchase, the director now owns 104,000 shares in the company, valued at $4,391,920. The disclosure for this purchase can be found here. 7.40% of the stock is currently owned by company insiders.
About Texas Roadhouse
Texas Roadhouse, Inc is a restaurant company, which operates in the casual dining segment. The Company offers an assortment of seasoned and aged steaks hand-cut daily on the premises and cooked to order over open grills. In addition to steaks, the Company also offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, and an assortment of hamburgers, salads and sandwiches.
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