California State Teachers Retirement System Buys 15,339,924 Shares of Texas Roadhouse, Inc. $TXRH

California State Teachers Retirement System raised its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 19,889.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 15,417,049 shares of the restaurant operator’s stock after buying an additional 15,339,924 shares during the quarter. California State Teachers Retirement System owned 0.23% of Texas Roadhouse worth $2,979,036,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Elyxium Wealth LLC acquired a new position in shares of Texas Roadhouse during the fourth quarter worth approximately $25,000. Basecamp Wealth Advisors LLC increased its holdings in shares of Texas Roadhouse by 5,033.3% in the first quarter. Basecamp Wealth Advisors LLC now owns 154 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 151 shares in the last quarter. Silvant Capital Management LLC acquired a new stake in shares of Texas Roadhouse in the second quarter valued at approximately $32,000. Measured Wealth Private Client Group LLC bought a new position in Texas Roadhouse in the 3rd quarter worth approximately $33,000. Finally, Garton & Associates Financial Advisors LLC bought a new position in Texas Roadhouse in the 4th quarter worth approximately $34,000. 94.82% of the stock is owned by institutional investors.

Insider Transactions at Texas Roadhouse

In other Texas Roadhouse news, CEO Gerald Morgan sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $202.17, for a total transaction of $3,032,550.00. Following the transaction, the chief executive officer owned 80,970 shares in the company, valued at approximately $16,369,704.90. This trade represents a 15.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hugh Carroll sold 650 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $203.99, for a total value of $132,593.50. Following the transaction, the director owned 2,883 shares of the company’s stock, valued at $588,103.17. The trade was a 18.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 20,396 shares of company stock valued at $4,143,825. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on TXRH shares. BMO Capital Markets upped their price objective on Texas Roadhouse from $165.00 to $180.00 and gave the stock a “market perform” rating in a report on Thursday, May 21st. BTIG Research lifted their target price on Texas Roadhouse from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Mizuho boosted their target price on Texas Roadhouse from $190.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. TD Cowen upped their price target on Texas Roadhouse from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Texas Roadhouse in a report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, Texas Roadhouse currently has a consensus rating of “Moderate Buy” and an average price target of $209.40.

Texas Roadhouse Stock Performance

Shares of Texas Roadhouse stock opened at $181.05 on Friday. The firm has a fifty day moving average of $197.85 and a two-hundred day moving average of $181.02. The stock has a market capitalization of $11.88 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 1.77 and a beta of 0.78. Texas Roadhouse, Inc. has a 52 week low of $153.82 and a 52 week high of $216.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.02. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the company earned $1.86 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts predict that Texas Roadhouse, Inc. will post 6.63 EPS for the current year.

Texas Roadhouse Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be paid a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.00 annualized dividend and a yield of 1.7%. Texas Roadhouse’s dividend payout ratio is presently 48.00%.

About Texas Roadhouse

Texas Roadhouse, Inc is a casual-dining restaurant company that operates and franchises restaurants under the Texas Roadhouse, Bubba’s 33 and Jaggers brands. Its restaurants are known for hand-cut steaks, ribs, chicken, burgers and other American-style meals, along with made-from-scratch sides and fresh-baked bread.

Texas Roadhouse restaurants generally emphasize a relaxed, family-friendly atmosphere and an experience centered on affordable, high-quality food. The company’s concepts include Texas Roadhouse steakhouses, Bubba’s 33 sports-themed restaurants and Jaggers fast-casual locations focused on burgers, chicken and fries.

Founded in 1993, Texas Roadhouse has expanded through a combination of company-operated and franchised restaurants.