Texas Roadhouse Target of Unusually Large Options Trading (NASDAQ:TXRH)

Texas Roadhouse, Inc. (NASDAQ:TXRH) was the target of unusually large options trading on Tuesday. Traders purchased 3,420 put options on the company. This is an increase of approximately 134% compared to the typical daily volume of 1,462 put options.

Analyst Ratings Changes

TXRH has been the topic of several analyst reports. Morgan Stanley upgraded Texas Roadhouse from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $205.00 to $213.00 in a research note on Tuesday, January 21st. Barclays reduced their price objective on shares of Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. The Goldman Sachs Group began coverage on shares of Texas Roadhouse in a research note on Thursday, December 5th. They issued a “neutral” rating and a $213.00 target price for the company. Truist Financial decreased their price objective on Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, Stephens reduced their target price on Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.73.

Insider Transactions at Texas Roadhouse

In other Texas Roadhouse news, President Regina A. Tobin sold 3,154 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $185.64, for a total transaction of $585,508.56. Following the transaction, the president now directly owns 18,414 shares in the company, valued at $3,418,374.96. This represents a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Hernan E. Mujica sold 2,050 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $170.66, for a total transaction of $349,853.00. Following the completion of the sale, the chief technology officer now owns 17,162 shares of the company’s stock, valued at approximately $2,928,866.92. This represents a 10.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,905 shares of company stock valued at $3,198,367. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Texas Roadhouse

A number of hedge funds have recently modified their holdings of the business. Kingsview Wealth Management LLC lifted its position in Texas Roadhouse by 3.1% in the third quarter. Kingsview Wealth Management LLC now owns 1,771 shares of the restaurant operator’s stock valued at $313,000 after buying an additional 54 shares during the last quarter. Cornerstone Investment Partners LLC increased its holdings in Texas Roadhouse by 2.7% in the 4th quarter. Cornerstone Investment Partners LLC now owns 2,159 shares of the restaurant operator’s stock valued at $390,000 after purchasing an additional 56 shares during the last quarter. Lifestyle Asset Management Inc. increased its holdings in Texas Roadhouse by 3.9% in the 4th quarter. Lifestyle Asset Management Inc. now owns 1,603 shares of the restaurant operator’s stock valued at $289,000 after purchasing an additional 60 shares during the last quarter. CIBC Asset Management Inc raised its position in Texas Roadhouse by 3.3% in the third quarter. CIBC Asset Management Inc now owns 1,952 shares of the restaurant operator’s stock valued at $345,000 after purchasing an additional 62 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Texas Roadhouse by 32.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock worth $48,000 after purchasing an additional 65 shares in the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Texas Roadhouse Stock Down 1.9 %

Shares of TXRH stock traded down $3.21 during mid-day trading on Tuesday, hitting $168.06. 245,136 shares of the stock were exchanged, compared to its average volume of 802,431. Texas Roadhouse has a 52-week low of $146.75 and a 52-week high of $206.04. The company has a market cap of $11.17 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00. The firm has a fifty day moving average of $177.71 and a 200 day moving average of $181.29.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.07. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Equities analysts predict that Texas Roadhouse will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Tuesday, March 18th. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.61. Texas Roadhouse’s dividend payout ratio is 42.04%.

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.