Vestcor Inc Decreases Holdings in Texas Roadhouse, Inc. $TXRH

Vestcor Inc cut its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 32.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 59,092 shares of the restaurant operator’s stock after selling 28,717 shares during the period. Vestcor Inc’s holdings in Texas Roadhouse were worth $9,809,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Alliancebernstein L.P. raised its stake in Texas Roadhouse by 14.7% during the 3rd quarter. Alliancebernstein L.P. now owns 3,638,914 shares of the restaurant operator’s stock valued at $604,606,000 after buying an additional 466,176 shares during the last quarter. Capital World Investors raised its stake in Texas Roadhouse by 580.2% during the 3rd quarter. Capital World Investors now owns 2,236,885 shares of the restaurant operator’s stock valued at $371,658,000 after buying an additional 1,908,033 shares during the last quarter. UBS Group AG raised its stake in Texas Roadhouse by 60.4% during the 4th quarter. UBS Group AG now owns 1,387,454 shares of the restaurant operator’s stock valued at $230,317,000 after buying an additional 522,509 shares during the last quarter. Geode Capital Management LLC raised its stake in Texas Roadhouse by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,367,120 shares of the restaurant operator’s stock valued at $226,984,000 after buying an additional 24,834 shares during the last quarter. Finally, Steadfast Capital Management LP raised its stake in Texas Roadhouse by 99.2% during the 3rd quarter. Steadfast Capital Management LP now owns 1,275,648 shares of the restaurant operator’s stock valued at $211,949,000 after buying an additional 635,178 shares during the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Texas Roadhouse news, Director Gregory N. Moore sold 1,250 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $178.14, for a total value of $222,675.00. Following the completion of the sale, the director owned 30,900 shares in the company, valued at approximately $5,504,526. This represents a 3.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Christopher C. Colson sold 499 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $179.22, for a total value of $89,430.78. Following the completion of the sale, the insider owned 14,500 shares of the company’s stock, valued at $2,598,690. The trade was a 3.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,166 shares of company stock worth $2,813,705 in the last three months. 0.50% of the stock is owned by company insiders.

Texas Roadhouse Trading Up 5.7%

Shares of TXRH stock opened at $170.46 on Friday. Texas Roadhouse, Inc. has a 52-week low of $153.82 and a 52-week high of $197.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.40 and a current ratio of 0.46. The firm has a market capitalization of $11.20 billion, a PE ratio of 27.23, a PEG ratio of 1.77 and a beta of 0.79. The stock has a fifty day simple moving average of $168.02 and a two-hundred day simple moving average of $173.76.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.07. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the business posted $1.70 EPS. Texas Roadhouse’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, analysts predict that Texas Roadhouse, Inc. will post 6.4 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 2nd will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, June 2nd. Texas Roadhouse’s dividend payout ratio is presently 47.92%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TXRH shares. Guggenheim reiterated a “buy” rating and set a $210.00 target price on shares of Texas Roadhouse in a research note on Monday, May 18th. Barclays reduced their price objective on Texas Roadhouse from $188.00 to $175.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Morgan Stanley restated an “overweight” rating and issued a $201.00 price objective on shares of Texas Roadhouse in a research note on Friday, May 8th. Citigroup reduced their price objective on Texas Roadhouse from $176.00 to $174.00 and set a “neutral” rating for the company in a research note on Friday, May 8th. Finally, Stephens upped their price objective on Texas Roadhouse from $168.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, Texas Roadhouse has an average rating of “Hold” and a consensus price target of $196.36.

Texas Roadhouse Profile

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.