Illinois Municipal Retirement Fund Purchases 3,013 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Illinois Municipal Retirement Fund raised its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 39.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,606 shares of the restaurant operator’s stock after acquiring an additional 3,013 shares during the period. Illinois Municipal Retirement Fund’s holdings in Texas Roadhouse were worth $1,638,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Bridgefront Capital LLC bought a new position in shares of Texas Roadhouse in the fourth quarter worth about $736,000. Bank of Nova Scotia grew its holdings in shares of Texas Roadhouse by 5,135.0% in the fourth quarter. Bank of Nova Scotia now owns 222,538 shares of the restaurant operator’s stock worth $27,200,000 after purchasing an additional 218,287 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Texas Roadhouse by 158.3% in the first quarter. Los Angeles Capital Management LLC now owns 22,510 shares of the restaurant operator’s stock worth $3,477,000 after purchasing an additional 13,795 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Texas Roadhouse in the first quarter worth about $4,522,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Texas Roadhouse by 54.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 84,886 shares of the restaurant operator’s stock worth $13,112,000 after purchasing an additional 29,833 shares during the last quarter. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Performance

NASDAQ TXRH traded up $1.57 on Friday, reaching $169.08. The stock had a trading volume of 696,565 shares, compared to its average volume of 788,020. Texas Roadhouse, Inc. has a 12-month low of $91.06 and a 12-month high of $175.72. The business’s 50-day moving average price is $169.18 and its 200 day moving average price is $150.60. The stock has a market cap of $11.29 billion, a P/E ratio of 34.23, a price-to-earnings-growth ratio of 1.64 and a beta of 1.01.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 EPS for the quarter, topping the consensus estimate of $1.65 by $0.04. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the business earned $1.28 earnings per share. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, sell-side analysts predict that Texas Roadhouse, Inc. will post 6.03 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Wednesday, June 12th were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Wednesday, June 12th. Texas Roadhouse’s dividend payout ratio (DPR) is presently 49.39%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Jefferies Financial Group upped their price target on shares of Texas Roadhouse from $120.00 to $136.00 and gave the stock a “hold” rating in a report on Tuesday, April 16th. Wedbush increased their target price on shares of Texas Roadhouse from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. increased their target price on shares of Texas Roadhouse from $145.00 to $184.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. BTIG Research increased their target price on shares of Texas Roadhouse from $155.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Morgan Stanley increased their target price on shares of Texas Roadhouse from $145.00 to $155.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Thirteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $157.95.

Insider Buying and Selling

In related news, CEO Gerald L. Morgan sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $171.70, for a total transaction of $2,575,500.00. Following the transaction, the chief executive officer now owns 77,847 shares of the company’s stock, valued at $13,366,329.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Gerald L. Morgan sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $171.70, for a total transaction of $2,575,500.00. Following the transaction, the chief executive officer now owns 77,847 shares of the company’s stock, valued at $13,366,329.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Curtis Warfield sold 1,025 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $165.82, for a total value of $169,965.50. Following the transaction, the director now directly owns 12,372 shares in the company, valued at approximately $2,051,525.04. The disclosure for this sale can be found here. Insiders have sold 19,025 shares of company stock valued at $3,251,266 over the last quarter. Company insiders own 0.50% of the company’s stock.

Texas Roadhouse Company Profile

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.