Public Employees Retirement Association of Colorado Sells 31,702 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Public Employees Retirement Association of Colorado reduced its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 15.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 175,636 shares of the restaurant operator’s stock after selling 31,702 shares during the period. Public Employees Retirement Association of Colorado owned 0.26% of Texas Roadhouse worth $30,158,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TXRH. Norges Bank bought a new position in shares of Texas Roadhouse during the fourth quarter valued at about $78,544,000. Balyasny Asset Management L.P. lifted its position in shares of Texas Roadhouse by 4,150.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 451,697 shares of the restaurant operator’s stock valued at $55,211,000 after purchasing an additional 441,069 shares in the last quarter. Armistice Capital LLC bought a new position in shares of Texas Roadhouse during the fourth quarter valued at about $28,724,000. Bank of Nova Scotia lifted its position in shares of Texas Roadhouse by 5,135.0% during the fourth quarter. Bank of Nova Scotia now owns 222,538 shares of the restaurant operator’s stock valued at $27,200,000 after purchasing an additional 218,287 shares in the last quarter. Finally, Bahl & Gaynor Inc. lifted its position in shares of Texas Roadhouse by 3,259.4% during the first quarter. Bahl & Gaynor Inc. now owns 92,350 shares of the restaurant operator’s stock valued at $14,265,000 after purchasing an additional 89,601 shares in the last quarter. 94.82% of the stock is owned by institutional investors.

Texas Roadhouse Stock Up 5.8 %

Shares of NASDAQ TXRH opened at $172.49 on Friday. Texas Roadhouse, Inc. has a 52 week low of $91.06 and a 52 week high of $177.72. The firm’s fifty day moving average is $167.83 and its 200 day moving average is $163.61. The company has a market cap of $11.50 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 1.48 and a beta of 0.99.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, July 25th. The restaurant operator reported $1.79 EPS for the quarter, topping the consensus estimate of $1.64 by $0.15. Texas Roadhouse had a net margin of 7.47% and a return on equity of 30.94%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the firm earned $1.22 earnings per share. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities research analysts anticipate that Texas Roadhouse, Inc. will post 6.32 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Wednesday, September 4th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Wednesday, September 4th. Texas Roadhouse’s payout ratio is 49.39%.

Analyst Ratings Changes

A number of research firms recently issued reports on TXRH. Morgan Stanley raised their price objective on shares of Texas Roadhouse from $155.00 to $162.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 16th. Wells Fargo & Company raised their price objective on shares of Texas Roadhouse from $165.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Wedbush raised their price objective on shares of Texas Roadhouse from $180.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Bank of America raised their price objective on shares of Texas Roadhouse from $189.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Royal Bank of Canada raised their price objective on shares of Texas Roadhouse from $165.00 to $175.00 and gave the stock a “sector perform” rating in a report on Friday, June 7th. Thirteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $171.85.

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.