State of New Jersey Common Pension Fund D Sells 617 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

State of New Jersey Common Pension Fund D lowered its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 2.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. LRI Investments LLC purchased a new stake in shares of Texas Roadhouse during the 1st quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Texas Roadhouse in the second quarter worth $25,000. Hollencrest Capital Management purchased a new stake in Texas Roadhouse during the second quarter valued at $25,000. McClarren Financial Advisors Inc. lifted its position in Texas Roadhouse by 4,175.0% during the second quarter. McClarren Financial Advisors Inc. now owns 171 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 167 shares during the last quarter. Finally, PSI Advisors LLC grew its stake in shares of Texas Roadhouse by 70.8% in the 3rd quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock worth $32,000 after buying an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Guggenheim increased their price target on shares of Texas Roadhouse from $190.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Stephens lifted their target price on Texas Roadhouse from $170.00 to $176.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Robert W. Baird raised their price target on Texas Roadhouse from $190.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Stifel Nicolaus boosted their price objective on shares of Texas Roadhouse from $180.00 to $195.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Finally, Truist Financial lifted their price target on shares of Texas Roadhouse from $202.00 to $207.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Texas Roadhouse currently has an average rating of “Hold” and a consensus target price of $189.00.

Texas Roadhouse Stock Performance

NASDAQ TXRH opened at $196.19 on Wednesday. The company has a market cap of $13.09 billion, a PE ratio of 33.71, a P/E/G ratio of 1.68 and a beta of 0.98. The firm’s 50 day moving average price is $177.63 and its 200-day moving average price is $171.71. Texas Roadhouse, Inc. has a 52-week low of $103.27 and a 52-week high of $201.24.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $1.27 billion. During the same period last year, the business posted $0.95 EPS. The firm’s revenue was up 13.5% compared to the same quarter last year. On average, analysts forecast that Texas Roadhouse, Inc. will post 6.39 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

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

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.