Insider Selling: Texas Roadhouse (NASDAQ:TXRH) Director Sells $132,593.50 in Stock

Texas Roadhouse, Inc. (NASDAQ:TXRH) Director Hugh Carroll sold 650 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $203.99, for a total transaction of $132,593.50. Following the sale, the director directly owned 2,883 shares of the company’s stock, valued at approximately $588,103.17. This trade represents a 18.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Texas Roadhouse Trading Down 1.8%

TXRH stock traded down $3.76 during midday trading on Thursday, reaching $200.12. The company’s stock had a trading volume of 633,695 shares, compared to its average volume of 811,906. Texas Roadhouse, Inc. has a 52 week low of $153.82 and a 52 week high of $216.30. The stock has a market cap of $13.14 billion, a PE ratio of 32.02, a price-to-earnings-growth ratio of 2.02 and a beta of 0.79. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. The business’s 50-day simple moving average is $197.77 and its 200-day simple moving average is $180.63.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, August 6th. The restaurant operator reported $1.85 EPS for the quarter, beating the consensus estimate of $1.83 by $0.02. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.86 EPS. As a group, sell-side analysts expect that Texas Roadhouse, Inc. will post 6.63 EPS for the current year.

Texas Roadhouse Announces Dividend

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 issued a dividend of $0.75 per share. The ex-dividend date is Tuesday, September 1st. This represents a $3.00 dividend on an annualized basis and a yield of 1.5%. Texas Roadhouse’s dividend payout ratio (DPR) is 48.00%.

Hedge Funds Weigh In On Texas Roadhouse

Several institutional investors and hedge funds have recently modified their holdings of TXRH. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Texas Roadhouse during the 2nd quarter worth approximately $850,000. California State Teachers Retirement System boosted its holdings in shares of Texas Roadhouse by 19,889.7% in the second quarter. California State Teachers Retirement System now owns 15,417,049 shares of the restaurant operator’s stock valued at $2,979,036,000 after buying an additional 15,339,924 shares during the period. Nilsine Partners LLC bought a new stake in shares of Texas Roadhouse during the second quarter worth $202,000. AXQ Capital LP increased its position in shares of Texas Roadhouse by 98.7% during the second quarter. AXQ Capital LP now owns 10,829 shares of the restaurant operator’s stock worth $2,092,000 after acquiring an additional 5,379 shares in the last quarter. Finally, Nykredit A S acquired a new stake in shares of Texas Roadhouse during the second quarter worth $466,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Texas Roadhouse from $182.00 to $188.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Mizuho boosted their price objective on shares of Texas Roadhouse from $190.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Piper Sandler upped their target price on shares of Texas Roadhouse from $192.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. BTIG Research increased their target price on shares of Texas Roadhouse from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, Stephens lifted their price target on shares of Texas Roadhouse from $180.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $208.48.

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.