Louisiana State Employees Retirement System Purchases New Holdings in Texas Roadhouse, Inc. $TXRH

Louisiana State Employees Retirement System acquired a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 19,200 shares of the restaurant operator’s stock, valued at approximately $3,171,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of TXRH. Alliancebernstein L.P. boosted its stake in shares of Texas Roadhouse by 14.7% during the 3rd quarter. Alliancebernstein L.P. now owns 3,638,914 shares of the restaurant operator’s stock valued at $604,606,000 after buying an additional 466,176 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Texas Roadhouse by 27.4% in the fourth quarter. AQR Capital Management LLC now owns 2,674,102 shares of the restaurant operator’s stock worth $443,901,000 after buying an additional 575,685 shares during the last quarter. Capital World Investors increased its stake in shares of Texas Roadhouse by 13.4% in the fourth quarter. Capital World Investors now owns 2,537,290 shares of the restaurant operator’s stock worth $421,190,000 after buying an additional 300,405 shares during the last quarter. UBS Group AG raised its holdings in Texas Roadhouse by 60.4% in the fourth quarter. UBS Group AG now owns 1,387,454 shares of the restaurant operator’s stock valued at $230,317,000 after acquiring an additional 522,509 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Texas Roadhouse by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 1,367,120 shares of the restaurant operator’s stock valued at $226,984,000 after acquiring an additional 24,834 shares in the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TXRH shares. Piper Sandler boosted their target price on shares of Texas Roadhouse from $190.00 to $192.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. increased their price target on shares of Texas Roadhouse from $182.00 to $188.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Texas Roadhouse in a research note on Friday, May 29th. Wall Street Zen raised Texas Roadhouse from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Finally, BMO Capital Markets upped their price objective on Texas Roadhouse from $165.00 to $180.00 and gave the company a “market perform” rating in a research note on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $196.36.

Texas Roadhouse Stock Up 3.1%

TXRH stock opened at $196.59 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.40. Texas Roadhouse, Inc. has a 1-year low of $153.82 and a 1-year high of $197.00. The firm has a fifty day moving average price of $171.63 and a two-hundred day moving average price of $174.21. The firm has a market cap of $12.92 billion, a price-to-earnings ratio of 31.40, a PEG ratio of 2.15 and a beta of 0.79.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.07. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the firm posted $1.70 EPS. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. Research analysts predict that Texas Roadhouse, Inc. will post 6.42 EPS for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 2nd will be paid a dividend of $0.75 per share. The ex-dividend date is Tuesday, June 2nd. This represents a $3.00 annualized dividend and a yield of 1.5%. Texas Roadhouse’s dividend payout ratio is 47.92%.

Insider Transactions at Texas Roadhouse

In other Texas Roadhouse news, Director Jane Grote Abell sold 339 shares of Texas Roadhouse stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $177.43, for a total value of $60,148.77. Following the completion of the transaction, the director directly owned 2,161 shares in the company, valued at $383,426.23. The trade was a 13.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christopher C. Colson sold 499 shares of Texas Roadhouse stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $179.22, for a total value of $89,430.78. Following the completion of the transaction, the insider owned 14,500 shares of the company’s stock, valued at approximately $2,598,690. The trade was a 3.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,728 shares of company stock valued at $1,033,847 over the last ninety days. Insiders own 0.50% of the company’s stock.

Texas Roadhouse Profile

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.