Insider Selling: Texas Roadhouse (NASDAQ:TXRH) CEO Sells 5,000 Shares of Stock

Texas Roadhouse, Inc. (NASDAQ:TXRH) CEO Gerald Morgan sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $187.13, for a total transaction of $935,650.00. Following the completion of the sale, the chief executive officer directly owned 96,774 shares of the company’s stock, valued at approximately $18,109,318.62. This represents a 4.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Texas Roadhouse Trading Down 0.3%

Shares of NASDAQ:TXRH traded down $0.65 during trading on Wednesday, hitting $189.09. 830,739 shares of the company’s stock were exchanged, compared to its average volume of 862,496. The firm has a 50-day moving average price of $171.27 and a two-hundred day moving average price of $173.45. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $199.99. The firm has a market cap of $12.51 billion, a P/E ratio of 28.91, a PEG ratio of 2.97 and a beta of 0.89.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, November 6th. The restaurant operator reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). Texas Roadhouse had a net margin of 7.49% and a return on equity of 30.59%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the business earned $1.26 earnings per share. The business’s revenue was up 12.8% on a year-over-year basis. As a group, research analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Tuesday, December 2nd. Texas Roadhouse’s payout ratio is 41.59%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Alliancebernstein L.P. increased its stake in Texas Roadhouse by 528.2% in the second quarter. Alliancebernstein L.P. now owns 3,172,738 shares of the restaurant operator’s stock valued at $594,603,000 after acquiring an additional 2,667,716 shares during the last quarter. Capital World Investors boosted its holdings in shares of Texas Roadhouse by 580.2% in the 3rd quarter. Capital World Investors now owns 2,236,885 shares of the restaurant operator’s stock valued at $371,658,000 after purchasing an additional 1,908,033 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Texas Roadhouse by 85.7% in the 2nd quarter. AQR Capital Management LLC now owns 2,343,000 shares of the restaurant operator’s stock valued at $439,102,000 after purchasing an additional 1,081,413 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Texas Roadhouse during the 3rd quarter worth $157,310,000. Finally, Victory Capital Management Inc. lifted its position in shares of Texas Roadhouse by 770.6% during the 3rd quarter. Victory Capital Management Inc. now owns 972,251 shares of the restaurant operator’s stock worth $161,540,000 after buying an additional 860,571 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on TXRH shares. Wall Street Zen downgraded shares of Texas Roadhouse from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Barclays increased their price objective on shares of Texas Roadhouse from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 7th. Truist Financial lifted their target price on Texas Roadhouse from $195.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Royal Bank Of Canada dropped their target price on Texas Roadhouse from $185.00 to $175.00 and set a “sector perform” rating on the stock in a report on Friday, November 7th. Finally, Mizuho upgraded Texas Roadhouse to a “strong-buy” rating in a research note on Tuesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $194.00.

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.