Insider Selling: Texas Roadhouse (NASDAQ:TXRH) CEO Sells $980,000.00 in Stock

Texas Roadhouse, Inc. (NASDAQ:TXRH) CEO Gerald Morgan sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $196.00, for a total value of $980,000.00. Following the completion of the transaction, the chief executive officer directly owned 91,774 shares of the company’s stock, valued at approximately $17,987,704. This trade represents a 5.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Texas Roadhouse Stock Down 0.3%

Shares of NASDAQ TXRH opened at $190.65 on Friday. The firm’s 50-day moving average price is $175.19 and its 200-day moving average price is $173.67. Texas Roadhouse, Inc. has a 52-week low of $148.73 and a 52-week high of $199.99. The company has a market cap of $12.61 billion, a PE ratio of 29.15, a PEG ratio of 2.99 and a beta of 0.89.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data 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). Texas Roadhouse had a net margin of 7.49% and a return on equity of 30.59%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the firm earned $1.26 earnings per share. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, equities research analysts anticipate that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently declared 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 of this dividend was Tuesday, December 2nd. Texas Roadhouse’s dividend payout ratio is presently 41.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TXRH shares. Barclays increased their target price on Texas Roadhouse from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. Royal Bank Of Canada lowered their price objective on shares of Texas Roadhouse from $185.00 to $175.00 and set a “sector perform” rating on the stock in a research note on Friday, November 7th. Stephens cut their target price on shares of Texas Roadhouse from $175.00 to $168.00 and set an “equal weight” rating for the company in a research report on Friday, November 7th. BMO Capital Markets increased their price target on shares of Texas Roadhouse from $155.00 to $170.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 6th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Texas Roadhouse from $200.00 to $182.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $196.33.

Institutional Trading of Texas Roadhouse

Institutional investors and hedge funds have recently modified their holdings of the company. Caldwell Trust Co bought a new position in Texas Roadhouse in the 2nd quarter worth $28,000. Princeton Global Asset Management LLC purchased a new position in shares of Texas Roadhouse in the fourth quarter valued at about $31,000. Measured Wealth Private Client Group LLC bought a new position in shares of Texas Roadhouse in the third quarter worth about $33,000. Root Financial Partners LLC purchased a new stake in shares of Texas Roadhouse during the third quarter worth about $36,000. Finally, Salomon & Ludwin LLC raised its stake in Texas Roadhouse by 37.2% during the 3rd quarter. Salomon & Ludwin LLC now owns 299 shares of the restaurant operator’s stock valued at $50,000 after purchasing an additional 81 shares during the period. 94.82% of the stock is currently owned by institutional investors.

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.