New York State Teachers Retirement System Sells 17,903 Shares of Texas Roadhouse Inc (NASDAQ:TXRH)

New York State Teachers Retirement System lowered its stake in Texas Roadhouse Inc (NASDAQ:TXRH) by 16.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,859 shares of the restaurant operator’s stock after selling 17,903 shares during the period. New York State Teachers Retirement System owned 0.13% of Texas Roadhouse worth $5,037,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. AlphaCrest Capital Management LLC bought a new stake in Texas Roadhouse in the first quarter valued at $1,252,000. Norges Bank bought a new stake in shares of Texas Roadhouse during the 4th quarter valued at $43,777,000. Trexquant Investment LP bought a new stake in shares of Texas Roadhouse during the 1st quarter valued at $3,272,000. BTIM Corp. boosted its holdings in shares of Texas Roadhouse by 0.5% during the 1st quarter. BTIM Corp. now owns 419,669 shares of the restaurant operator’s stock valued at $26,100,000 after buying an additional 1,915 shares in the last quarter. Finally, State of Wisconsin Investment Board boosted its holdings in shares of Texas Roadhouse by 33.4% during the 1st quarter. State of Wisconsin Investment Board now owns 308,200 shares of the restaurant operator’s stock valued at $19,167,000 after buying an additional 77,200 shares in the last quarter. Institutional investors and hedge funds own 87.80% of the company’s stock.

Shares of TXRH traded up $1.26 during trading hours on Friday, hitting $56.90. The company had a trading volume of 1,072,984 shares, compared to its average volume of 903,549. The company’s fifty day moving average is $54.03. The company has a quick ratio of 0.84, a current ratio of 0.25 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $3.97 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 2.14 and a beta of 0.60. Texas Roadhouse Inc has a 52-week low of $50.84 and a 52-week high of $75.24.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Monday, July 29th. The restaurant operator reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. The firm had revenue of $689.80 million during the quarter, compared to analyst estimates of $688.11 million. Texas Roadhouse had a return on equity of 16.30% and a net margin of 5.99%. Texas Roadhouse’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS. On average, sell-side analysts predict that Texas Roadhouse Inc will post 2.3 EPS for the current year.

TXRH has been the topic of a number of research reports. Stifel Nicolaus dropped their target price on shares of Texas Roadhouse from $70.00 to $60.00 and set a “hold” rating on the stock in a report on Tuesday, April 30th. Wells Fargo & Co dropped their target price on shares of Texas Roadhouse from $63.00 to $58.00 and set a “market perform” rating on the stock in a report on Tuesday, April 30th. Telsey Advisory Group restated a “market perform” rating and set a $60.00 target price (up previously from $58.00) on shares of Texas Roadhouse in a report on Tuesday. Zacks Investment Research upgraded shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, UBS Group dropped their target price on shares of Texas Roadhouse from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $62.70.

In other news, insider S. Chris Jacobsen sold 2,500 shares of Texas Roadhouse stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $60.00, for a total value of $150,000.00. Following the completion of the transaction, the insider now owns 21,197 shares of the company’s stock, valued at approximately $1,271,820. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gregory N. Moore sold 23,000 shares of Texas Roadhouse stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $55.53, for a total value of $1,277,190.00. The disclosure for this sale can be found here. 5.89% of the stock is owned by insiders.

Texas Roadhouse Profile

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises Texas Roadhouse and Bubba's 33 restaurants. As of April 29, 2019, it owned and operated approximately 590 restaurants. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.

Further Reading: Price to Earnings Ratio (PE)

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

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