Texas Roadhouse (NASDAQ:TXRH) Director Hugh Carroll Sells 988 Shares

Texas Roadhouse, Inc. (NASDAQ:TXRH) Director Hugh Carroll sold 988 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $170.96, for a total transaction of $168,908.48. Following the transaction, the director owned 866 shares of the company’s stock, valued at approximately $148,051.36. This trade represents a 53.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Texas Roadhouse Price Performance

Texas Roadhouse stock traded down $2.33 during midday trading on Wednesday, reaching $168.60. The company had a trading volume of 729,174 shares, compared to its average volume of 1,048,561. Texas Roadhouse, Inc. has a 12-month low of $148.73 and a 12-month high of $199.99. The company has a market capitalization of $11.15 billion, a P/E ratio of 27.68, a P/E/G ratio of 1.85 and a beta of 0.86. The firm’s fifty day simple moving average is $182.43 and its 200-day simple moving average is $173.49.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, February 19th. The restaurant operator reported $1.28 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.25). The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Texas Roadhouse had a return on equity of 27.88% and a net margin of 6.90%.Texas Roadhouse’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 earnings per share. On average, analysts expect that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, March 17th. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.68. Texas Roadhouse’s payout ratio is 49.26%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC lifted its stake in shares of Texas Roadhouse by 12.0% in the 1st quarter. NewEdge Advisors LLC now owns 2,423 shares of the restaurant operator’s stock valued at $404,000 after purchasing an additional 259 shares during the last quarter. Focus Partners Wealth lifted its position in Texas Roadhouse by 23.3% in the first quarter. Focus Partners Wealth now owns 6,124 shares of the restaurant operator’s stock valued at $1,020,000 after buying an additional 1,157 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Texas Roadhouse by 36.0% in the first quarter. Geneos Wealth Management Inc. now owns 419 shares of the restaurant operator’s stock valued at $70,000 after buying an additional 111 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Texas Roadhouse during the second quarter worth about $657,000. Finally, ProShare Advisors LLC increased its position in shares of Texas Roadhouse by 3.5% during the second quarter. ProShare Advisors LLC now owns 2,942 shares of the restaurant operator’s stock valued at $551,000 after acquiring an additional 100 shares during the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TXRH. Morgan Stanley dropped their target price on shares of Texas Roadhouse from $208.00 to $202.00 and set an “overweight” rating for the company in a report on Monday, February 23rd. Truist Financial dropped their price target on Texas Roadhouse from $188.00 to $186.00 and set a “hold” rating for the company in a research report on Friday, February 20th. Stephens upped their target price on Texas Roadhouse from $168.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, February 20th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $165.00 target price on shares of Texas Roadhouse in a research note on Friday, February 20th. Finally, Sanford C. Bernstein set a $185.00 price target on Texas Roadhouse in a report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $196.55.

Texas Roadhouse Company Profile

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.