Texas Roadhouse, Inc. Announces Quarterly Dividend of $0.61 (NASDAQ:TXRH)

Texas Roadhouse, Inc. (NASDAQ:TXRHGet Free Report) declared a quarterly dividend on Thursday, May 16th, Zacks reports. Shareholders of record on Wednesday, June 12th will be given a dividend of 0.61 per share by the restaurant operator on Tuesday, June 25th. This represents a $2.44 annualized dividend and a yield of 1.44%. The ex-dividend date is Wednesday, June 12th.

Texas Roadhouse has raised its dividend payment by an average of 82.8% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Texas Roadhouse has a dividend payout ratio of 36.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Texas Roadhouse to earn $6.67 per share next year, which means the company should continue to be able to cover its $2.44 annual dividend with an expected future payout ratio of 36.6%.

Texas Roadhouse Price Performance

Texas Roadhouse stock opened at $169.75 on Tuesday. The stock has a market cap of $11.34 billion, a price-to-earnings ratio of 34.36, a price-to-earnings-growth ratio of 1.63 and a beta of 1.00. Texas Roadhouse has a 1-year low of $91.06 and a 1-year high of $174.05. The firm has a 50 day simple moving average of $161.27 and a 200-day simple moving average of $141.92.

Texas Roadhouse (NASDAQ:TXRHGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.04. Texas Roadhouse had a net margin of 6.94% and a return on equity of 28.85%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm posted $1.28 EPS. The business’s revenue was up 12.5% compared to the same quarter last year. Equities analysts expect that Texas Roadhouse will post 6.02 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Gerald L. Morgan sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $171.70, for a total value of $2,575,500.00. Following the transaction, the chief executive officer now directly owns 77,847 shares of the company’s stock, valued at approximately $13,366,329.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Texas Roadhouse news, Director Curtis Warfield sold 1,025 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $165.82, for a total value of $169,965.50. Following the completion of the sale, the director now owns 12,372 shares of the company’s stock, valued at $2,051,525.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Gerald L. Morgan sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $171.70, for a total transaction of $2,575,500.00. Following the completion of the sale, the chief executive officer now directly owns 77,847 shares of the company’s stock, valued at approximately $13,366,329.90. The disclosure for this sale can be found here. Insiders have sold 19,025 shares of company stock valued at $3,251,266 in the last ninety days. 0.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TXRH shares. Northcoast Research downgraded shares of Texas Roadhouse from a “buy” rating to a “neutral” rating in a report on Tuesday, February 20th. Truist Financial upped their target price on Texas Roadhouse from $170.00 to $181.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Jefferies Financial Group increased their target price on Texas Roadhouse from $120.00 to $136.00 and gave the stock a “hold” rating in a report on Tuesday, April 16th. Morgan Stanley increased their target price on Texas Roadhouse from $145.00 to $155.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Finally, Wedbush lifted their target price on Texas Roadhouse from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Thirteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $157.77.

Check Out Our Latest Research Report on TXRH

Texas Roadhouse Company Profile

(Get Free Report)

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.

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Dividend History for Texas Roadhouse (NASDAQ:TXRH)

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