South Dakota Investment Council Raises Stock Holdings in Texas Roadhouse, Inc. $TXRH

South Dakota Investment Council lifted its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 68.4% during the third quarter, Holdings Channel reports. The fund owned 15,264 shares of the restaurant operator’s stock after purchasing an additional 6,200 shares during the quarter. South Dakota Investment Council’s holdings in Texas Roadhouse were worth $2,536,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in Texas Roadhouse by 770.6% in the 3rd quarter. Victory Capital Management Inc. now owns 972,251 shares of the restaurant operator’s stock valued at $161,540,000 after purchasing an additional 860,571 shares in the last quarter. Bahl & Gaynor Inc. raised its position in shares of Texas Roadhouse by 3.0% in the third quarter. Bahl & Gaynor Inc. now owns 237,600 shares of the restaurant operator’s stock valued at $39,477,000 after buying an additional 6,828 shares during the last quarter. Hendershot Investments Inc. lifted its stake in shares of Texas Roadhouse by 13.1% during the third quarter. Hendershot Investments Inc. now owns 72,111 shares of the restaurant operator’s stock valued at $11,981,000 after buying an additional 8,371 shares during the period. Erste Asset Management GmbH boosted its position in Texas Roadhouse by 19.6% during the third quarter. Erste Asset Management GmbH now owns 140,380 shares of the restaurant operator’s stock worth $23,383,000 after acquiring an additional 22,971 shares during the last quarter. Finally, Xponance Inc. boosted its position in Texas Roadhouse by 1.5% during the third quarter. Xponance Inc. now owns 13,826 shares of the restaurant operator’s stock worth $2,297,000 after acquiring an additional 201 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. KeyCorp reiterated a “sector weight” rating on shares of Texas Roadhouse in a report on Friday, February 20th. Morgan Stanley dropped their target price on Texas Roadhouse from $208.00 to $202.00 and set an “overweight” rating for the company in a research note on Monday, February 23rd. Wells Fargo & Company increased their target price on Texas Roadhouse from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, January 22nd. UBS Group restated a “buy” rating on shares of Texas Roadhouse in a report on Monday, November 10th. Finally, Stephens upped their price objective on shares of Texas Roadhouse from $168.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $196.55.

Insider Buying and Selling at Texas Roadhouse

In other news, CEO Gerald L. Morgan sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $196.00, for a total value of $980,000.00. Following the completion of the sale, the chief executive officer owned 91,774 shares of the company’s stock, valued at $17,987,704. This represents a 5.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is owned by insiders.

Texas Roadhouse Stock Down 1.4%

Shares of TXRH stock opened at $178.70 on Thursday. Texas Roadhouse, Inc. has a fifty-two week low of $148.73 and a fifty-two week high of $199.99. The firm’s 50 day moving average price is $182.41 and its two-hundred day moving average price is $173.71. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of 29.34, a price-to-earnings-growth ratio of 1.96 and a beta of 0.86.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, February 19th. The restaurant operator reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.25). Texas Roadhouse had a net margin of 6.90% and a return on equity of 27.88%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the business posted $1.73 EPS. The business’s revenue was up 3.1% on a year-over-year basis. On average, equities analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.75 per share. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.68. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, March 17th. Texas Roadhouse’s payout ratio is presently 44.66%.

Texas Roadhouse Company 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.