Texas Roadhouse, Inc. (NASDAQ:TXRH) to Issue $0.68 Quarterly Dividend

Texas Roadhouse, Inc. (NASDAQ:TXRH) announced a quarterly dividend on Thursday, November 6th. Investors of record on Tuesday, December 2nd will be given a dividend of 0.68 per share by the restaurant operator on Tuesday, December 30th. This represents a c) annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, December 2nd.

Texas Roadhouse has increased its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 6 years. Texas Roadhouse has a payout ratio of 35.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Texas Roadhouse to earn $8.28 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 32.9%.

Texas Roadhouse Stock Up 1.0%

TXRH stock traded up $1.57 during trading on Friday, hitting $162.30. 432,556 shares of the company’s stock traded hands, compared to its average volume of 1,118,184. The stock has a market capitalization of $10.78 billion, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 2.50 and a beta of 0.87. Texas Roadhouse has a 52 week low of $148.73 and a 52 week high of $206.04. The stock has a fifty day moving average price of $167.76 and a two-hundred day moving average price of $177.82.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, November 6th. The restaurant operator reported $1.25 EPS for the quarter, missing the consensus estimate 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 net margin of 7.72% and a return on equity of 31.52%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the company posted $1.26 earnings per share. As a group, equities research analysts expect that Texas Roadhouse will post 7.23 EPS for the current fiscal year.

Insider Buying and Selling at Texas Roadhouse

In related news, President Regina A. Tobin sold 3,153 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $173.53, for a total transaction of $547,140.09. Following the completion of the sale, the president directly owned 15,261 shares of the company’s stock, valued at $2,648,241.33. This represents a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Hernan E. Mujica sold 2,189 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $172.40, for a total transaction of $377,383.60. Following the sale, the chief technology officer owned 17,553 shares of the company’s stock, valued at $3,026,137.20. The trade was a 11.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 8,342 shares of company stock valued at $1,443,704. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Texas Roadhouse

Several hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. grew its position in Texas Roadhouse by 23.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,065 shares of the restaurant operator’s stock worth $511,000 after purchasing an additional 580 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of Texas Roadhouse by 3.3% during the 1st quarter. OneDigital Investment Advisors LLC now owns 3,215 shares of the restaurant operator’s stock worth $536,000 after buying an additional 102 shares during the period. Envestnet Asset Management Inc. increased its position in Texas Roadhouse by 10.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 224,749 shares of the restaurant operator’s stock worth $37,450,000 after buying an additional 21,308 shares during the period. Valeo Financial Advisors LLC raised its position in shares of Texas Roadhouse by 2.3% during the first quarter. Valeo Financial Advisors LLC now owns 2,750 shares of the restaurant operator’s stock valued at $458,000 after buying an additional 62 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in Texas Roadhouse by 7.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 117,033 shares of the restaurant operator’s stock worth $19,728,000 after buying an additional 8,262 shares in the last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

About Texas Roadhouse

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.