Gerald Morgan Sells 5,000 Shares of Texas Roadhouse (NASDAQ:TXRH) Stock

Texas Roadhouse, Inc. (NASDAQ:TXRH) CEO Gerald Morgan sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $187.13, for a total transaction of $935,650.00. Following the sale, the chief executive officer directly owned 96,774 shares in the company, valued at $18,109,318.62. The trade was a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Texas Roadhouse Stock Performance

Shares of TXRH stock traded down $0.65 during mid-day trading on Wednesday, hitting $189.09. The company’s stock had a trading volume of 830,739 shares, compared to its average volume of 862,496. Texas Roadhouse, Inc. has a 52 week low of $148.73 and a 52 week high of $199.99. The company’s fifty day simple moving average is $171.27 and its 200-day simple moving average is $173.45. The company has a market cap of $12.51 billion, a PE ratio of 28.91, a P/E/G ratio of 2.97 and a beta of 0.89.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, November 6th. The restaurant operator reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. Texas Roadhouse had a return on equity of 30.59% and a net margin of 7.49%.Texas Roadhouse’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $1.26 EPS. On average, equities analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, December 2nd. Texas Roadhouse’s payout ratio is currently 41.59%.

Institutional Investors Weigh In On Texas Roadhouse

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cascade Investment Advisors Inc. lifted its position in shares of Texas Roadhouse by 1.7% during the fourth quarter. Cascade Investment Advisors Inc. now owns 10,081 shares of the restaurant operator’s stock worth $1,673,000 after acquiring an additional 170 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Texas Roadhouse during the 4th quarter worth about $239,000. Pallas Capital Advisors LLC grew its holdings in Texas Roadhouse by 6.3% during the 4th quarter. Pallas Capital Advisors LLC now owns 9,704 shares of the restaurant operator’s stock valued at $1,611,000 after buying an additional 574 shares in the last quarter. Dakota Wealth Management bought a new stake in shares of Texas Roadhouse during the fourth quarter valued at about $307,000. Finally, Mather Group LLC. lifted its holdings in shares of Texas Roadhouse by 127.5% in the fourth quarter. Mather Group LLC. now owns 1,504 shares of the restaurant operator’s stock worth $250,000 after buying an additional 843 shares in the last quarter. Institutional investors own 94.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Stephens lowered their price target on Texas Roadhouse from $175.00 to $168.00 and set an “equal weight” rating for the company in a research report on Friday, November 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Texas Roadhouse in a research report on Monday, December 29th. JPMorgan Chase & Co. cut their price target on shares of Texas Roadhouse from $200.00 to $182.00 and set a “neutral” rating on the stock in a report on Tuesday, October 7th. Morgan Stanley dropped their target price on shares of Texas Roadhouse from $210.00 to $205.00 and set an “overweight” rating on the stock in a research report on Monday, November 10th. Finally, Guggenheim restated a “buy” rating and issued a $210.00 target price on shares of Texas Roadhouse in a research note on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $194.00.

About Texas Roadhouse

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.