New York State Teachers Retirement System Buys 4,600 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Posted by Defense World Staff on Apr 15th, 2023

New York State Teachers Retirement System boosted its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH – Get Rating) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 105,901 shares of the restaurant operator’s stock after purchasing an additional 4,600 shares during the quarter. New York State Teachers Retirement System owned approximately 0.16% of Texas Roadhouse worth $9,632,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. boosted its stake in Texas Roadhouse by 2.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,853 shares of the restaurant operator’s stock worth $510,000 after purchasing an additional 133 shares during the period. Synovus Financial Corp boosted its position in shares of Texas Roadhouse by 1.5% during the 3rd quarter. Synovus Financial Corp now owns 9,808 shares of the restaurant operator’s stock valued at $856,000 after acquiring an additional 141 shares during the last quarter. CWM LLC boosted its position in shares of Texas Roadhouse by 14.5% during the 3rd quarter. CWM LLC now owns 1,142 shares of the restaurant operator’s stock valued at $100,000 after acquiring an additional 145 shares during the last quarter. Janiczek Wealth Management LLC boosted its position in shares of Texas Roadhouse by 13.7% during the 3rd quarter. Janiczek Wealth Management LLC now owns 1,264 shares of the restaurant operator’s stock valued at $111,000 after acquiring an additional 152 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its position in shares of Texas Roadhouse by 2.8% during the 4th quarter. Park Avenue Securities LLC now owns 5,736 shares of the restaurant operator’s stock valued at $522,000 after acquiring an additional 154 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wedbush lifted their price target on Texas Roadhouse from $111.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, February 17th. StockNews.com downgraded Texas Roadhouse from a “buy” rating to a “hold” rating in a research report on Tuesday, April 4th. Stephens raised their price objective on Texas Roadhouse from $86.00 to $100.00 and gave the company an “equal weight” rating in a report on Friday, February 17th. Morgan Stanley raised their price objective on Texas Roadhouse from $95.00 to $102.00 and gave the company an “equal weight” rating in a report on Wednesday, January 18th. Finally, Barclays raised their price objective on Texas Roadhouse from $90.00 to $101.00 and gave the company an “equal weight” rating in a report on Thursday, January 5th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $106.39.

Insider Activity

In other news, CMO S. Chris Jacobsen sold 3,487 shares of the business’s stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $110.06, for a total transaction of $383,779.22. Following the transaction, the chief marketing officer now directly owns 23,879 shares of the company’s stock, valued at $2,628,122.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Gregory N. Moore sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $104.80, for a total transaction of $104,800.00. Following the transaction, the director now directly owns 57,050 shares of the company’s stock, valued at $5,978,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CMO S. Chris Jacobsen sold 3,487 shares of the business’s stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $110.06, for a total value of $383,779.22. Following the transaction, the chief marketing officer now directly owns 23,879 shares in the company, valued at $2,628,122.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,702 shares of company stock valued at $824,045. Company insiders own 0.50% of the company’s stock.

Texas Roadhouse Price Performance

Shares of Texas Roadhouse stock opened at $109.89 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.61 and a quick ratio of 0.55. The business’s 50 day simple moving average is $105.58 and its two-hundred day simple moving average is $99.64. The stock has a market capitalization of $7.36 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 1.38 and a beta of 0.95. Texas Roadhouse, Inc. has a one year low of $68.58 and a one year high of $113.20.

Texas Roadhouse (NASDAQ:TXRH – Get Rating) last announced its quarterly earnings results on Thursday, February 16th. The restaurant operator reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.13). Texas Roadhouse had a return on equity of 26.92% and a net margin of 6.72%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the firm earned $0.76 earnings per share. Texas Roadhouse’s revenue for the quarter was up 12.7% on a year-over-year basis. Analysts forecast that Texas Roadhouse, Inc. will post 4.69 EPS for the current year.

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Wednesday, March 8th were paid a dividend of $0.55 per share. The ex-dividend date was Tuesday, March 7th. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.46. This represents a $2.20 annualized dividend and a dividend yield of 2.00%. Texas Roadhouse’s payout ratio is 55.42%.

Texas Roadhouse Profile

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Texas Roadhouse, Inc is a full-service, casual dining restaurant chain, which offers assorted seasoned and aged steaks hand-cut daily on the premises and cooked to order over open gas-fired grills. It operates restaurants under the Texas Roadhouse and Aspen Creek names. The firm also offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, an assortment of hamburgers, salads and sandwiches.