California Public Employees Retirement System Sells 47,290 Shares of Texas Roadhouse, Inc. $TXRH

California Public Employees Retirement System cut its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 27.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 123,142 shares of the restaurant operator’s stock after selling 47,290 shares during the quarter. California Public Employees Retirement System’s holdings in Texas Roadhouse were worth $20,336,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NewEdge Advisors LLC boosted its stake in shares of Texas Roadhouse by 12.0% in the 1st quarter. NewEdge Advisors LLC now owns 2,423 shares of the restaurant operator’s stock worth $404,000 after buying an additional 259 shares during the last quarter. Focus Partners Wealth increased its position in Texas Roadhouse by 23.3% during the first quarter. Focus Partners Wealth now owns 6,124 shares of the restaurant operator’s stock valued at $1,020,000 after acquiring an additional 1,157 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Texas Roadhouse by 36.0% in the first quarter. Geneos Wealth Management Inc. now owns 419 shares of the restaurant operator’s stock valued at $70,000 after acquiring an additional 111 shares during the period. Sivia Capital Partners LLC bought a new position in Texas Roadhouse in the second quarter valued at about $657,000. Finally, Marshall Wace LLP purchased a new position in Texas Roadhouse in the second quarter worth about $1,936,000. 94.82% of the stock is owned by institutional investors.

Texas Roadhouse Stock Down 1.5%

TXRH stock opened at $191.43 on Thursday. Texas Roadhouse, Inc. has a twelve month low of $153.82 and a twelve month high of $200.11. The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. The stock has a market cap of $12.58 billion, a P/E ratio of 30.58, a PEG ratio of 2.15 and a beta of 0.78. The business’s 50-day moving average price is $181.26 and its 200-day moving average price is $177.11.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the prior year, the firm posted $1.70 EPS. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that Texas Roadhouse, Inc. will post 6.45 EPS for the current year.

Texas Roadhouse Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 2nd were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Tuesday, June 2nd. Texas Roadhouse’s dividend payout ratio is presently 47.92%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TXRH shares. Deutsche Bank Aktiengesellschaft boosted their price target on Texas Roadhouse from $200.00 to $212.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Stifel Nicolaus raised their price objective on shares of Texas Roadhouse from $170.00 to $180.00 and gave the stock a “hold” rating in a report on Tuesday, May 12th. Wells Fargo & Company boosted their target price on shares of Texas Roadhouse from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Wall Street Zen raised shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Finally, Morgan Stanley reissued an “overweight” rating and set a $201.00 price objective on shares of Texas Roadhouse in a research report on Friday, May 8th. Ten investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, Texas Roadhouse has a consensus rating of “Hold” and a consensus price target of $194.90.

Insiders Place Their Bets

In other news, General Counsel Sean G. Renfroe sold 426 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $192.53, for a total value of $82,017.78. Following the completion of the sale, the general counsel directly owned 860 shares of the company’s stock, valued at $165,575.80. This represents a 33.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Curtis Warfield sold 2,640 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $183.05, for a total transaction of $483,252.00. Following the sale, the director owned 5,361 shares in the company, valued at $981,331.05. The trade was a 33.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 6,154 shares of company stock valued at $1,115,864. Insiders own 0.50% of the company’s stock.

Texas Roadhouse Company 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.