Insider Selling: Texas Roadhouse (NASDAQ:TXRH) President Sells $760,950.00 in Stock
by Danessa Lincoln · The Markets DailyTexas Roadhouse, Inc. (NASDAQ:TXRH – Get Free Report) President Regina Tobin sold 4,450 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $171.00, for a total transaction of $760,950.00. Following the transaction, the president owned 13,778 shares of the company’s stock, valued at approximately $2,356,038. This represents a 24.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Texas Roadhouse Price Performance
TXRH traded down $0.74 during mid-day trading on Friday, hitting $170.89. The stock had a trading volume of 1,865,292 shares, compared to its average volume of 961,681. The stock’s fifty day simple moving average is $182.00 and its 200-day simple moving average is $173.46. The firm has a market capitalization of $11.30 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $199.99.
Texas Roadhouse (NASDAQ:TXRH – Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The restaurant operator reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.25). Texas Roadhouse had a net margin of 6.90% and a return on equity of 27.88%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the firm earned $1.73 EPS. Texas Roadhouse’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, research analysts expect that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.
Texas Roadhouse Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.75 per share. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.68. This represents a $3.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, March 17th. Texas Roadhouse’s dividend payout ratio is presently 49.26%.
Analysts Set New Price Targets
TXRH has been the subject of several recent analyst reports. Benchmark restated a “hold” rating on shares of Texas Roadhouse in a report on Monday, February 23rd. Wall Street Zen lowered Texas Roadhouse from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Zacks Research raised Texas Roadhouse from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 8th. BMO Capital Markets restated a “market perform” rating and set a $165.00 target price on shares of Texas Roadhouse in a report on Friday, February 20th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $200.00 price target on shares of Texas Roadhouse in a research note on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat, Texas Roadhouse presently has an average rating of “Moderate Buy” and a consensus target price of $196.55.
Read Our Latest Research Report on TXRH
Institutional Trading of Texas Roadhouse
A number of institutional investors have recently made changes to their positions in TXRH. Capital World Investors increased its position in shares of Texas Roadhouse by 580.2% in the third quarter. Capital World Investors now owns 2,236,885 shares of the restaurant operator’s stock valued at $371,658,000 after acquiring an additional 1,908,033 shares during the last quarter. Caprock Group LLC acquired a new position in Texas Roadhouse during the third quarter valued at approximately $1,070,000. Westfield Capital Management Co. LP boosted its position in Texas Roadhouse by 0.5% during the second quarter. Westfield Capital Management Co. LP now owns 705,622 shares of the restaurant operator’s stock valued at $132,241,000 after purchasing an additional 3,574 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in Texas Roadhouse by 101.0% in the third quarter. Sequoia Financial Advisors LLC now owns 5,377 shares of the restaurant operator’s stock valued at $893,000 after purchasing an additional 2,702 shares in the last quarter. Finally, Bfsg LLC grew its stake in Texas Roadhouse by 111.1% in the third quarter. Bfsg LLC now owns 29,798 shares of the restaurant operator’s stock valued at $4,951,000 after purchasing an additional 15,682 shares in the last quarter. Institutional investors own 94.82% of the company’s stock.
About Texas Roadhouse
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.