State of Michigan Retirement System Has $2.53 Million Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

State of Michigan Retirement System increased its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,378 shares of the restaurant operator’s stock after purchasing an additional 400 shares during the period. State of Michigan Retirement System’s holdings in Texas Roadhouse were worth $2,530,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in Texas Roadhouse by 1.7% during the 3rd quarter. Wellington Management Group LLP now owns 1,807,430 shares of the restaurant operator’s stock worth $173,694,000 after purchasing an additional 29,506 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Texas Roadhouse by 0.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,611,543 shares of the restaurant operator’s stock worth $154,869,000 after purchasing an additional 8,392 shares during the last quarter. Geneva Capital Management LLC lifted its holdings in Texas Roadhouse by 7.9% during the 4th quarter. Geneva Capital Management LLC now owns 948,219 shares of the restaurant operator’s stock worth $115,901,000 after purchasing an additional 69,536 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Texas Roadhouse by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 833,790 shares of the restaurant operator’s stock worth $101,916,000 after purchasing an additional 31,079 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its holdings in Texas Roadhouse by 12.9% during the 4th quarter. Boston Trust Walden Corp now owns 777,202 shares of the restaurant operator’s stock worth $94,997,000 after purchasing an additional 89,019 shares during the last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Texas Roadhouse news, Director Curtis Warfield sold 1,025 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $165.82, for a total transaction of $169,965.50. Following the completion of the transaction, the director now owns 12,372 shares in the company, valued at approximately $2,051,525.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Curtis Warfield sold 1,025 shares of Texas Roadhouse stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $165.82, for a total transaction of $169,965.50. Following the completion of the transaction, the director now owns 12,372 shares of the company’s stock, valued at $2,051,525.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gerald L. Morgan sold 15,000 shares of Texas Roadhouse stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $171.70, for a total transaction of $2,575,500.00. Following the transaction, the chief executive officer now directly owns 77,847 shares of the company’s stock, valued at approximately $13,366,329.90. The disclosure for this sale can be found here. Insiders have sold a total of 19,025 shares of company stock valued at $3,251,266 over the last ninety days. 0.50% of the stock is owned by company insiders.

Texas Roadhouse Stock Down 0.6 %

Shares of TXRH stock opened at $166.64 on Thursday. The firm has a market capitalization of $11.13 billion, a P/E ratio of 33.73, a P/E/G ratio of 1.63 and a beta of 1.01. Texas Roadhouse, Inc. has a twelve month low of $91.06 and a twelve month high of $175.72. The stock’s fifty day simple moving average is $167.86 and its 200 day simple moving average is $148.43.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.04. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. Texas Roadhouse’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS. As a group, equities research analysts expect that Texas Roadhouse, Inc. will post 6.02 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Wednesday, June 12th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.46%. Texas Roadhouse’s dividend payout ratio (DPR) is 49.39%.

Analyst Ratings Changes

Several analysts recently weighed in on TXRH shares. Truist Financial lifted their price target on Texas Roadhouse from $181.00 to $183.00 and gave the stock a “buy” rating in a report on Monday. BTIG Research lifted their price objective on Texas Roadhouse from $155.00 to $175.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Stephens lifted their price objective on Texas Roadhouse from $150.00 to $164.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Barclays lifted their price objective on Texas Roadhouse from $138.00 to $160.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Finally, Jefferies Financial Group lifted their price objective on Texas Roadhouse from $120.00 to $136.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. Thirteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $157.86.

Texas Roadhouse Profile

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.