Insider Selling: Texas Roadhouse Inc. (TXRH) Insider Sells $251,832.00 in Stock
Texas Roadhouse Inc. (NASDAQ:TXRH) insider S. Chris Jacobsen sold 5,996 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $42.00, for a total value of $251,832.00. Following the completion of the sale, the insider now directly owns 13,476 shares of the company’s stock, valued at approximately $565,992. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Shares of Texas Roadhouse Inc. (NASDAQ:TXRH) opened at 46.15 on Tuesday. Texas Roadhouse Inc. has a 1-year low of $33.71 and a 1-year high of $48.99. The firm’s 50-day moving average price is $39.72 and its 200 day moving average price is $43.61. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 27.80 and a beta of 0.50.
Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by $0.01. The firm had revenue of $481.64 million for the quarter, compared to analysts’ expectations of $483.97 million. Texas Roadhouse had a return on equity of 17.05% and a net margin of 6.01%. The business’s revenue for the quarter was down 58.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 EPS. Equities research analysts expect that Texas Roadhouse Inc. will post $1.77 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Wednesday, December 14th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Monday, December 12th. Texas Roadhouse’s payout ratio is 46.06%.
Several institutional investors have recently modified their holdings of TXRH. Capital Research Global Investors increased its stake in shares of Texas Roadhouse by 3.0% in the third quarter. Capital Research Global Investors now owns 5,378,146 shares of the company’s stock valued at $209,909,000 after buying an additional 155,940 shares during the period. BlackRock Fund Advisors increased its stake in shares of Texas Roadhouse by 7.0% in the third quarter. BlackRock Fund Advisors now owns 3,457,644 shares of the company’s stock valued at $134,952,000 after buying an additional 224,701 shares during the period. Alliancebernstein L.P. increased its stake in shares of Texas Roadhouse by 2.5% in the second quarter. Alliancebernstein L.P. now owns 2,365,106 shares of the company’s stock valued at $107,849,000 after buying an additional 56,673 shares during the period. State Street Corp increased its stake in shares of Texas Roadhouse by 52.1% in the second quarter. State Street Corp now owns 2,036,118 shares of the company’s stock valued at $92,845,000 after buying an additional 697,515 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Texas Roadhouse by 17.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,853,358 shares of the company’s stock valued at $84,513,000 after buying an additional 269,634 shares during the period. 87.09% of the stock is currently owned by institutional investors.
A number of analysts have recently weighed in on TXRH shares. Zacks Investment Research cut Texas Roadhouse from a “hold” rating to a “sell” rating in a research report on Thursday, October 6th. Canaccord Genuity initiated coverage on Texas Roadhouse in a research report on Monday, August 22nd. They set a “hold” rating and a $48.00 price target for the company. Maxim Group raised Texas Roadhouse from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Tuesday, October 18th. Telsey Advisory Group lowered their price target on Texas Roadhouse from $48.00 to $46.00 and set a “market perform” rating for the company in a research report on Wednesday, November 2nd. Finally, Robert W. Baird reaffirmed a “neutral” rating on shares of Texas Roadhouse in a research report on Thursday, September 8th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $44.50.
About Texas Roadhouse
Texas Roadhouse, Inc is a restaurant company, which operates in the casual dining segment. The Company offers an assortment of seasoned and aged steaks hand-cut daily on the premises and cooked to order over open grills. In addition to steaks, the Company also offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, and an assortment of hamburgers, salads and sandwiches.
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