Key Points
- CEO Gerald Morgan sold 15,000 Texas Roadhouse shares for approximately $3.03 million at an average price of $202.17, reducing his ownership by 15.63%. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan.
- Texas Roadhouse reported quarterly revenue of $1.68 billion, up 11.1% year over year, and earnings of $1.85 per share, slightly exceeding analyst expectations.
- The company declared a quarterly dividend of $0.75 per share, equivalent to an annualized $3.00 dividend and a 1.5% yield. Analysts have an overall “Hold” rating and a consensus price target of $208.48.
Texas Roadhouse, Inc. (NASDAQ:TXRH - Get Free Report) CEO Gerald Morgan sold 15,000 shares of the 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 sale, the chief executive officer owned 80,970 shares in the company, valued at approximately $16,369,704.90. This trade represents a 15.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Texas Roadhouse Stock Up 1.6%
Shares of NASDAQ TXRH opened at $204.48 on Friday. The firm's 50-day simple moving average is $195.26 and its 200 day simple moving average is $180.18. The company has a market cap of $13.42 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 1.99 and a beta of 0.79. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. Texas Roadhouse, Inc. has a 12-month low of $153.82 and a 12-month high of $216.30.
Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.85 EPS for the quarter, topping 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 firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the firm earned $1.86 EPS. The company's revenue was up 11.1% on a year-over-year basis. On average, research analysts expect that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current fiscal year.
Texas Roadhouse Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.5%. Texas Roadhouse's dividend payout ratio (DPR) is currently 48.00%.
Institutional Investors Weigh In On Texas Roadhouse
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Texas Roadhouse during the second quarter worth about $1,273,173,000. Balyasny Asset Management L.P. bought a new stake in shares of Texas Roadhouse in the 3rd quarter valued at about $157,310,000. Wellington Management Group LLP raised its position in shares of Texas Roadhouse by 228.4% in the 4th quarter. Wellington Management Group LLP now owns 1,329,052 shares of the restaurant operator's stock valued at $220,623,000 after acquiring an additional 924,306 shares during the period. Norges Bank acquired a new stake in shares of Texas Roadhouse in the 4th quarter valued at approximately $145,734,000. Finally, Steadfast Capital Management LP boosted its stake in Texas Roadhouse by 99.2% during the 3rd quarter. Steadfast Capital Management LP now owns 1,275,648 shares of the restaurant operator's stock worth $211,949,000 after acquiring an additional 635,178 shares during the last quarter. Institutional investors own 94.82% of the company's stock.
Wall Street Analysts Forecast Growth
TXRH has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on Texas Roadhouse from $182.00 to $188.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. Barclays lowered their target price on Texas Roadhouse from $188.00 to $175.00 and set an "equal weight" rating for the company in a research note on Friday, May 8th. UBS Group upped their price target on Texas Roadhouse from $210.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. BMO Capital Markets raised their price target on Texas Roadhouse from $165.00 to $180.00 and gave the company a "market perform" rating in a report on Thursday, May 21st. Finally, BTIG Research raised their price target on Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a report on Friday, August 7th. Ten analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, Texas Roadhouse presently has an average rating of "Hold" and a consensus price target of $208.48.
View Our Latest Report on Texas Roadhouse
Texas Roadhouse Company Profile
(
Get Free Report)
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.
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