Stock Traders Buy Large Volume of Texas Roadhouse Put Options (NASDAQ:TXRH)


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Texas Roadhouse, Inc. (NASDAQ:TXRH) saw unusually large options trading on Monday. Traders acquired 820 put options on the stock. This represents an increase of approximately 1,008% compared to the average volume of 74 put options.

In related news, CMO S. Chris Jacobsen sold 838 shares of the company’s stock in a transaction that occurred on Tuesday, February 9th. The stock was sold at an average price of $90.00, for a total value of $75,420.00. Following the sale, the chief marketing officer now owns 19,130 shares in the company, valued at approximately $1,721,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Wayne Kent Taylor sold 70,000 shares of the company’s stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of $98.40, for a total value of $6,888,000.00. Following the completion of the sale, the chief executive officer now owns 3,036,295 shares in the company, valued at approximately $298,771,428. The disclosure for this sale can be found here. Insiders sold a total of 113,371 shares of company stock worth $10,842,369 in the last 90 days. 6.16% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of TXRH. Price T Rowe Associates Inc. MD raised its stake in Texas Roadhouse by 315.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,141,594 shares of the restaurant operator’s stock worth $89,227,000 after buying an additional 866,565 shares in the last quarter. Norges Bank acquired a new position in shares of Texas Roadhouse during the 4th quarter worth about $55,676,000. BlackRock Inc. grew its stake in shares of Texas Roadhouse by 5.9% in the 4th quarter. BlackRock Inc. now owns 8,426,459 shares of the restaurant operator’s stock valued at $658,613,000 after buying an additional 468,138 shares during the period. Ninety One UK Ltd purchased a new position in shares of Texas Roadhouse during the 4th quarter worth approximately $35,514,000. Finally, Hood River Capital Management LLC boosted its position in shares of Texas Roadhouse by 90.4% during the 4th quarter. Hood River Capital Management LLC now owns 516,908 shares of the restaurant operator’s stock worth $40,402,000 after purchasing an additional 245,394 shares during the period. 91.73% of the stock is owned by institutional investors.

Several brokerages have commented on TXRH. Stephens increased their target price on Texas Roadhouse from $93.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday. The Goldman Sachs Group began coverage on Texas Roadhouse in a research note on Tuesday, January 19th. They set a “neutral” rating and a $79.00 target price on the stock. Zacks Investment Research upgraded Texas Roadhouse from a “hold” rating to a “strong-buy” rating and set a $123.00 target price on the stock in a research note on Tuesday. Morgan Stanley increased their target price on Texas Roadhouse from $94.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday, April 30th. Finally, Wedbush increased their price target on Texas Roadhouse from $110.00 to $122.00 and gave the company an “outperform” rating in a report on Friday, April 30th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Texas Roadhouse currently has a consensus rating of “Hold” and an average price target of $143.17.

Shares of TXRH stock opened at $106.96 on Wednesday. Texas Roadhouse has a 52-week low of $41.68 and a 52-week high of $110.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.96 and a current ratio of 1.01. The firm has a market capitalization of $7.45 billion, a PE ratio of 137.13, a PEG ratio of 3.10 and a beta of 1.00. The stock has a fifty day simple moving average of $98.33 and a two-hundred day simple moving average of $84.76.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, April 29th. The restaurant operator reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.32. Texas Roadhouse had a return on equity of 5.97% and a net margin of 2.19%. On average, sell-side analysts forecast that Texas Roadhouse will post 0.68 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 4th. Shareholders of record on Wednesday, May 19th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, May 18th. This represents a $1.60 annualized dividend and a yield of 1.50%. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.36.

About Texas Roadhouse

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises Texas Roadhouse and Bubba's 33 restaurants. As of December 29, 2020, it operated 537 domestic restaurants and 97 franchise restaurants.

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