Gerald Morgan Sells 5,000 Shares of Texas Roadhouse (NASDAQ:TXRH) Stock

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

Texas Roadhouse Stock Up 2.4%

Shares of TXRH opened at $193.60 on Friday. Texas Roadhouse, Inc. has a 52-week low of $148.73 and a 52-week high of $199.99. The stock has a market cap of $12.81 billion, a PE ratio of 29.60, a price-to-earnings-growth ratio of 2.96 and a beta of 0.89. The firm’s fifty day moving average is $171.93 and its two-hundred day moving average is $173.59.

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

Texas Roadhouse Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. raised its stake in shares of Texas Roadhouse by 528.2% in the 2nd 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 period. Capital World Investors raised its position in 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 purchasing an additional 1,908,033 shares during the period. AQR Capital Management LLC raised its position in Texas Roadhouse by 85.7% in the second 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 period. Balyasny Asset Management L.P. acquired a new position in Texas Roadhouse during the third quarter worth $157,310,000. Finally, Victory Capital Management Inc. boosted its position in shares of Texas Roadhouse by 770.6% during the third 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 period. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Truist Financial boosted their price objective on Texas Roadhouse from $195.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Morgan Stanley dropped their price objective on shares of Texas Roadhouse from $210.00 to $205.00 and set an “overweight” rating for the company in a report on Monday, November 10th. UBS Group restated a “buy” rating on shares of Texas Roadhouse in a research report on Monday, November 10th. Stephens decreased their target price on shares of Texas Roadhouse from $175.00 to $168.00 and set an “equal weight” rating on the stock in a report on Friday, November 7th. Finally, The Goldman Sachs Group dropped their price target on shares of Texas Roadhouse from $200.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company 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.