Gerald Morgan Sells 15,000 Shares of Texas Roadhouse (NASDAQ:TXRH) Stock

Texas Roadhouse, Inc. (NASDAQ:TXRH) CEO Gerald Morgan sold 15,000 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $202.17, for a total transaction of $3,032,550.00. Following the completion of the transaction, the chief executive officer owned 80,970 shares of the company’s stock, valued at approximately $16,369,704.90. This trade represents a 15.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Texas Roadhouse Stock Performance

Shares of NASDAQ TXRH opened at $204.48 on Friday. Texas Roadhouse, Inc. has a 12-month low of $153.82 and a 12-month high of $216.30. The company has a market cap of $13.42 billion, a PE ratio of 32.72, a P/E/G ratio of 2.02 and a beta of 0.79. The stock has a 50 day simple moving average of $195.26 and a 200-day simple moving average of $180.18. The company has a current ratio of 0.46, a quick ratio of 0.39 and a debt-to-equity ratio of 0.03.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, August 6th. The restaurant operator reported $1.85 EPS for the quarter, beating the consensus estimate of $1.83 by $0.02. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $1.86 EPS. On average, equities research analysts forecast that Texas Roadhouse, Inc. will post 6.63 EPS for the current year.

Texas Roadhouse Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC raised its position in Texas Roadhouse by 12.0% in the first quarter. NewEdge Advisors LLC now owns 2,423 shares of the restaurant operator’s stock worth $404,000 after acquiring an additional 259 shares in the last quarter. Focus Partners Wealth boosted its position in shares of Texas Roadhouse by 23.3% during the 1st quarter. Focus Partners Wealth now owns 6,124 shares of the restaurant operator’s stock valued at $1,020,000 after purchasing an additional 1,157 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Texas Roadhouse by 36.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 419 shares of the restaurant operator’s stock worth $70,000 after purchasing an additional 111 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Texas Roadhouse in the 2nd quarter worth approximately $657,000. Finally, Marshall Wace LLP bought a new stake in shares of Texas Roadhouse in the 2nd quarter worth approximately $1,936,000. 94.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TXRH has been the subject of a number of recent analyst reports. BTIG Research increased their target price on shares of Texas Roadhouse from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Citigroup boosted their price target on shares of Texas Roadhouse from $193.00 to $209.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Texas Roadhouse in a research note on Friday, May 29th. Morgan Stanley reiterated an “overweight” rating and issued a $212.00 price objective on shares of Texas Roadhouse in a report on Friday, August 7th. Finally, UBS Group raised their price objective on shares of Texas Roadhouse from $210.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Ten investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.