Vestcor Inc Sells 2,982 Shares of Texas Roadhouse, Inc. $TXRH

Vestcor Inc reduced its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 3.3% in the 3rd quarter, Holdings Channel reports. The firm owned 87,809 shares of the restaurant operator’s stock after selling 2,982 shares during the period. Vestcor Inc’s holdings in Texas Roadhouse were worth $14,589,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in TXRH. Symphony Financial Ltd. Co. acquired a new position in Texas Roadhouse during the second quarter valued at approximately $28,465,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Texas Roadhouse by 2,515.2% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 417,045 shares of the restaurant operator’s stock worth $78,158,000 after buying an additional 401,098 shares during the last quarter. Caprock Group LLC bought a new stake in shares of Texas Roadhouse during the 3rd quarter worth $1,070,000. Westfield Capital Management Co. LP boosted its holdings in shares of Texas Roadhouse by 0.5% during the 2nd quarter. Westfield Capital Management Co. LP now owns 705,622 shares of the restaurant operator’s stock worth $132,241,000 after buying an additional 3,574 shares during the period. Finally, Bfsg LLC grew its stake in Texas Roadhouse by 111.1% in the 3rd quarter. Bfsg LLC now owns 29,798 shares of the restaurant operator’s stock valued at $4,951,000 after buying an additional 15,682 shares during the last quarter. Institutional investors own 94.82% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on TXRH shares. The Goldman Sachs Group lifted their target price on shares of Texas Roadhouse from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Wells Fargo & Company raised their price target on Texas Roadhouse from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, January 22nd. BMO Capital Markets reissued a “market perform” rating and set a $165.00 price objective on shares of Texas Roadhouse in a research report on Friday, February 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Texas Roadhouse in a research note on Monday, December 29th. Finally, UBS Group reaffirmed a “buy” rating on shares of Texas Roadhouse in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $196.55.

Insider Buying and Selling at Texas Roadhouse

In related news, Director Gregory N. Moore sold 1,700 shares of the company’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $171.59, for a total value of $291,703.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Donna E. Epps sold 850 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $172.45, for a total value of $146,582.50. Following the completion of the transaction, the director directly owned 4,892 shares of the company’s stock, valued at approximately $843,625.40. This trade represents a 14.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 12,550 shares of company stock valued at $2,353,936 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Texas Roadhouse Price Performance

NASDAQ TXRH opened at $171.54 on Monday. The firm has a market capitalization of $11.35 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 1.86 and a beta of 0.86. The company’s fifty day moving average is $182.52 and its two-hundred day moving average is $173.69. Texas Roadhouse, Inc. has a 52-week low of $148.73 and a 52-week high of $199.99.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, February 19th. The restaurant operator reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.25). Texas Roadhouse had a net margin of 6.90% and a return on equity of 27.88%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company posted $1.73 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, sell-side analysts expect that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a $0.75 dividend. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $3.00 annualized dividend and a yield of 1.7%. Texas Roadhouse’s payout ratio is currently 44.66%.

About Texas Roadhouse

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.