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

Texas Roadhouse, Inc. (NASDAQ:TXRH) declared a quarterly dividend on Thursday, May 16th, Zacks reports. Stockholders 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 dividend yield of 1.44%. The ex-dividend date of this dividend is Wednesday, June 12th.

Texas Roadhouse has increased 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 payout ratio of 36.9% indicating that its dividend is sufficiently covered by earnings. Equities research 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

TXRH stock opened at $169.75 on Tuesday. Texas Roadhouse has a 1-year low of $91.06 and a 1-year high of $174.05. The business has a fifty day moving average price of $161.27 and a 200-day moving average price of $141.92. The stock has a market capitalization of $11.34 billion, a P/E ratio of 34.36, a P/E/G ratio of 1.63 and a beta of 1.00.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $1.69 EPS for the quarter, topping the consensus estimate of $1.65 by $0.04. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the company posted $1.28 earnings per share. Texas Roadhouse’s revenue was up 12.5% compared to the same quarter last year. As a group, analysts anticipate that Texas Roadhouse will post 6.02 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Gerald L. Morgan sold 15,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 77,847 shares in the company, valued at $13,366,329.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Texas Roadhouse news, CEO Gerald L. Morgan sold 15,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 77,847 shares in the company, valued at $13,366,329.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Hernan E. Mujica sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $168.60, for a total value of $505,800.00. Following the sale, the chief technology officer now owns 17,842 shares in the company, valued at $3,008,161.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,025 shares of company stock worth $3,251,266. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Royal Bank of Canada lifted their price objective on Texas Roadhouse from $165.00 to $175.00 and gave the stock a “sector perform” rating in a report on Friday. Stephens lifted their price objective on Texas Roadhouse from $150.00 to $164.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Benchmark initiated coverage on Texas Roadhouse in a report on Wednesday, April 10th. They set a “hold” rating for the company. Barclays boosted their price target on Texas Roadhouse from $138.00 to $160.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Finally, Piper Sandler boosted their price target on Texas Roadhouse from $110.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday, February 20th. Thirteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $157.77.

About Texas Roadhouse

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.