State Board of Administration of Florida Retirement System Cuts Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

State Board of Administration of Florida Retirement System lessened its position in Texas Roadhouse, Inc. (NASDAQ:TXRHGet Rating) by 6.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,078 shares of the restaurant operator’s stock after selling 1,750 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Texas Roadhouse were worth $1,836,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Texas Roadhouse by 7.8% in the 1st quarter. BlackRock Inc. now owns 8,127,535 shares of the restaurant operator’s stock valued at $680,519,000 after buying an additional 585,944 shares during the period. State Street Corp raised its holdings in shares of Texas Roadhouse by 4.1% in the 1st quarter. State Street Corp now owns 2,195,555 shares of the restaurant operator’s stock valued at $183,834,000 after buying an additional 86,838 shares during the period. Bank of America Corp DE raised its holdings in shares of Texas Roadhouse by 6.5% in the 1st quarter. Bank of America Corp DE now owns 1,873,382 shares of the restaurant operator’s stock valued at $156,859,000 after buying an additional 114,951 shares during the period. Wellington Management Group LLP grew its stake in Texas Roadhouse by 11.8% during the 1st quarter. Wellington Management Group LLP now owns 1,466,644 shares of the restaurant operator’s stock worth $122,802,000 after purchasing an additional 154,302 shares in the last quarter. Finally, GW&K Investment Management LLC grew its stake in Texas Roadhouse by 3.5% during the 1st quarter. GW&K Investment Management LLC now owns 1,443,315 shares of the restaurant operator’s stock worth $120,849,000 after purchasing an additional 48,715 shares in the last quarter. Hedge funds and other institutional investors own 97.80% of the company’s stock.

Insider Transactions at Texas Roadhouse

In other news, Director Gregory N. Moore sold 1,000 shares of the stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $98.31, for a total transaction of $98,310.00. Following the completion of the transaction, the director now directly owns 54,850 shares of the company’s stock, valued at approximately $5,392,303.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Morgan Stanley boosted their target price on Texas Roadhouse from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 16th. Credit Suisse Group boosted their target price on Texas Roadhouse to $121.00 in a research note on Tuesday, November 1st. Citigroup upped their price objective on Texas Roadhouse from $108.00 to $114.00 in a research report on Friday, October 28th. UBS Group lowered their price objective on Texas Roadhouse from $108.00 to $104.00 in a research report on Tuesday, July 26th. Finally, Stephens lowered their price objective on Texas Roadhouse from $90.00 to $86.00 and set an “equal weight” rating for the company in a research report on Friday, October 28th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Texas Roadhouse has a consensus rating of “Moderate Buy” and a consensus target price of $103.11.

Texas Roadhouse Stock Performance

Shares of TXRH stock opened at $98.25 on Thursday. The company has a market cap of $6.57 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 1.72 and a beta of 0.95. The stock has a 50 day simple moving average of $93.11 and a 200-day simple moving average of $85.70. Texas Roadhouse, Inc. has a 12-month low of $68.58 and a 12-month high of $101.75. The company has a current ratio of 0.54, a quick ratio of 0.47 and a debt-to-equity ratio of 0.08.

Texas Roadhouse Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 23rd. Stockholders of record on Wednesday, December 7th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Tuesday, December 6th. Texas Roadhouse’s dividend payout ratio (DPR) is 47.92%.

Texas Roadhouse Profile

(Get Rating)

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names. As of December 28, 2021, it operated 566 domestic restaurants and 101 franchise restaurants.

Further Reading

Institutional Ownership by Quarter for Texas Roadhouse (NASDAQ:TXRH)

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