California Public Employees Retirement System Buys 9,202 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

California Public Employees Retirement System boosted its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 2.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 371,261 shares of the restaurant operator’s stock after acquiring an additional 9,202 shares during the quarter. California Public Employees Retirement System’s holdings in Texas Roadhouse were worth $45,379,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. CWM LLC grew its holdings in shares of Texas Roadhouse by 110.8% during the third quarter. CWM LLC now owns 1,617 shares of the restaurant operator’s stock worth $155,000 after purchasing an additional 850 shares during the last quarter. AE Wealth Management LLC increased its position in Texas Roadhouse by 25.4% in the 3rd quarter. AE Wealth Management LLC now owns 3,544 shares of the restaurant operator’s stock valued at $341,000 after acquiring an additional 718 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Texas Roadhouse during the third quarter valued at $528,000. Commonwealth Equity Services LLC lifted its holdings in shares of Texas Roadhouse by 3.2% during the third quarter. Commonwealth Equity Services LLC now owns 6,556 shares of the restaurant operator’s stock worth $630,000 after purchasing an additional 203 shares during the period. Finally, Hendershot Investments Inc. lifted its holdings in shares of Texas Roadhouse by 15.7% during the third quarter. Hendershot Investments Inc. now owns 75,512 shares of the restaurant operator’s stock worth $7,257,000 after purchasing an additional 10,274 shares during the period. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Price Performance

TXRH opened at $157.46 on Friday. The firm has a market capitalization of $10.52 billion, a P/E ratio of 34.76, a PEG ratio of 1.70 and a beta of 0.99. Texas Roadhouse, Inc. has a fifty-two week low of $91.06 and a fifty-two week high of $159.31. The company’s 50-day moving average is $151.30 and its 200 day moving average is $127.25.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, February 15th. The restaurant operator reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. Texas Roadhouse had a return on equity of 27.43% and a net margin of 6.58%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.89 EPS. On average, equities research analysts expect that Texas Roadhouse, Inc. will post 5.77 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th were paid a dividend of $0.61 per share. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.55%. Texas Roadhouse’s dividend payout ratio (DPR) is currently 53.86%.

Insider Activity

In related news, President Regina A. Tobin sold 3,064 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $150.07, for a total value of $459,814.48. Following the sale, the president now owns 15,261 shares in the company, valued at approximately $2,290,218.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Texas Roadhouse news, insider Christopher C. Colson sold 405 shares of Texas Roadhouse stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $149.05, for a total value of $60,365.25. Following the completion of the transaction, the insider now directly owns 8,500 shares of the company’s stock, valued at $1,266,925. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Regina A. Tobin sold 3,064 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $150.07, for a total transaction of $459,814.48. Following the sale, the president now owns 15,261 shares in the company, valued at approximately $2,290,218.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,382 shares of company stock worth $1,843,145. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TXRH. Stephens assumed coverage on Texas Roadhouse in a research report on Friday, April 12th. They set an “equal weight” rating and a $150.00 price objective for the company. BMO Capital Markets raised their target price on Texas Roadhouse from $110.00 to $130.00 and gave the stock a “market perform” rating in a research note on Friday, February 16th. Benchmark initiated coverage on shares of Texas Roadhouse in a research report on Wednesday, April 10th. They set a “hold” rating for the company. Wedbush boosted their target price on shares of Texas Roadhouse from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Finally, Wells Fargo & Company raised their price target on shares of Texas Roadhouse from $125.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday, February 16th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Texas Roadhouse presently has a consensus rating of “Hold” and an average price target of $138.76.

Texas Roadhouse Company 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.