Texas Roadhouse (NASDAQ:TXRH) CEO Sells $3,032,550.00 in Stock

Texas Roadhouse, Inc. (NASDAQ:TXRH) CEO Gerald Morgan sold 15,000 shares of Texas Roadhouse stock in a transaction on Friday, August 21st. The shares were sold at an average price of $202.17, for a total transaction of $3,032,550.00. Following the completion of the sale, the chief executive officer owned 80,970 shares in the company, valued at $16,369,704.90. The trade was a 15.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Texas Roadhouse Stock Up 1.6%

TXRH stock traded up $3.29 during mid-day trading on Friday, reaching $204.48. The company had a trading volume of 643,328 shares, compared to its average volume of 859,809. Texas Roadhouse, Inc. has a 52 week low of $153.82 and a 52 week high of $216.30. The company has a market capitalization of $13.42 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 1.99 and a beta of 0.79. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.39. The stock has a 50 day simple moving average of $195.26 and a two-hundred day simple moving average of $180.18.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.02. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the prior year, the firm earned $1.86 EPS. Texas Roadhouse’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts predict that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be given a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.00 annualized dividend and a dividend yield of 1.5%. Texas Roadhouse’s dividend payout ratio is presently 48.00%.

Institutional Investors Weigh In On Texas Roadhouse

Large investors have recently modified their holdings of the business. AXQ Capital LP boosted its stake in Texas Roadhouse by 98.7% in the second quarter. AXQ Capital LP now owns 10,829 shares of the restaurant operator’s stock valued at $2,092,000 after buying an additional 5,379 shares in the last quarter. Nykredit A S acquired a new position in Texas Roadhouse during the second quarter worth about $466,000. Coppell Advisory Solutions LLC acquired a new position in Texas Roadhouse during the second quarter worth about $38,000. Proficio Capital Partners LLC bought a new position in shares of Texas Roadhouse in the second quarter worth about $233,000. Finally, Rehmann Capital Advisory Group lifted its holdings in shares of Texas Roadhouse by 8.7% in the second quarter. Rehmann Capital Advisory Group now owns 1,324 shares of the restaurant operator’s stock worth $256,000 after acquiring an additional 106 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

Analysts Set New Price Targets

TXRH has been the subject of several research reports. Stephens lifted their price target on Texas Roadhouse from $180.00 to $205.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Barclays lowered their price objective on Texas Roadhouse from $188.00 to $175.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. Wells Fargo & Company lifted their target price on Texas Roadhouse from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Texas Roadhouse in a research report on Friday, May 29th. Finally, BTIG Research upped their price target on shares of Texas Roadhouse from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $208.48.

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.