State of New Jersey Common Pension Fund D Lowers Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

State of New Jersey Common Pension Fund D decreased its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 2.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 23,796 shares of the restaurant operator’s stock after selling 617 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Texas Roadhouse were worth $4,202,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. LRI Investments LLC bought a new position in Texas Roadhouse in the first quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Texas Roadhouse in the 2nd quarter worth about $25,000. Hollencrest Capital Management purchased a new position in Texas Roadhouse during the 2nd quarter valued at about $25,000. McClarren Financial Advisors Inc. lifted its position in Texas Roadhouse by 4,175.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 171 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 167 shares during the period. Finally, PSI Advisors LLC boosted its stake in Texas Roadhouse by 70.8% during the third quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock worth $32,000 after acquiring an additional 75 shares in the last quarter. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Performance

NASDAQ TXRH opened at $196.19 on Wednesday. The business’s fifty day moving average is $177.63 and its 200 day moving average is $171.71. Texas Roadhouse, Inc. has a fifty-two week low of $103.27 and a fifty-two week high of $201.24. The company has a market capitalization of $13.09 billion, a PE ratio of 33.71, a price-to-earnings-growth ratio of 1.68 and a beta of 0.98.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the firm earned $0.95 earnings per share. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. On average, sell-side analysts forecast that Texas Roadhouse, Inc. will post 6.39 EPS for the current year.

Texas Roadhouse Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Tuesday, December 10th. Texas Roadhouse’s dividend payout ratio (DPR) is 41.92%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Robert W. Baird lifted their target price on shares of Texas Roadhouse from $190.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, October 25th. BMO Capital Markets increased their target price on Texas Roadhouse from $155.00 to $162.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Evercore ISI lifted their price target on Texas Roadhouse from $195.00 to $200.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. cut their price objective on shares of Texas Roadhouse from $184.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Finally, Bank of America lifted their target price on shares of Texas Roadhouse from $206.00 to $234.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Texas Roadhouse presently has a consensus rating of “Hold” and a consensus price target of $189.00.

About Texas Roadhouse

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.