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 that occurred on Friday, August 21st. The stock was sold at an average price of $202.17, for a total value of $3,032,550.00. Following the completion of the transaction, the chief executive officer directly owned 80,970 shares in the company, valued at approximately $16,369,704.90. This represents a 15.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Texas Roadhouse Stock Performance

Shares of NASDAQ TXRH traded up $3.29 during mid-day trading on Friday, hitting $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 12 month low of $153.82 and a 12 month high of $216.30. 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 firm has a market cap of $13.42 billion, a P/E ratio of 32.72, a PEG ratio of 1.99 and a beta of 0.79. The business’s 50-day simple moving average is $195.26 and its 200-day simple moving average is $180.18.

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

Texas Roadhouse Dividend Announcement

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

Institutional Investors Weigh In On Texas Roadhouse

Several hedge funds have recently bought and sold shares of the company. AXQ Capital LP increased its stake in Texas Roadhouse by 98.7% during the 2nd quarter. AXQ Capital LP now owns 10,829 shares of the restaurant operator’s stock worth $2,092,000 after purchasing an additional 5,379 shares in the last quarter. Nykredit A S bought a new position in Texas Roadhouse in the second quarter valued at approximately $466,000. Coppell Advisory Solutions LLC acquired a new position in shares of Texas Roadhouse in the second quarter valued at approximately $38,000. Proficio Capital Partners LLC bought a new stake in shares of Texas Roadhouse during the second quarter worth $233,000. Finally, Rehmann Capital Advisory Group raised its holdings in shares of Texas Roadhouse by 8.7% during 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 period. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TXRH shares. JPMorgan Chase & Co. upped their target price on shares of Texas Roadhouse from $182.00 to $188.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Morgan Stanley restated an “overweight” rating and issued a $212.00 price objective on shares of Texas Roadhouse in a research report on Friday, August 7th. Mizuho upped their price objective on Texas Roadhouse from $190.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. TD Cowen increased their price objective on Texas Roadhouse from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Guggenheim reissued a “buy” rating and issued a $210.00 target price on shares of Texas Roadhouse in a research note on Monday, May 18th. Ten investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.