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

Texas Roadhouse, Inc. (NASDAQ:TXRH) saw some unusual options trading on Friday. Stock traders acquired 3,728 put options on the company. This is an increase of approximately 193% compared to the average volume of 1,273 put options.

Insider Activity

In other news, insider Christopher C. Colson sold 1,370 shares of Texas Roadhouse stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $179.46, for a total transaction of $245,860.20. Following the sale, the insider now owns 10,000 shares of the company’s stock, valued at approximately $1,794,600. The trade was a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Texas Roadhouse

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Texas Roadhouse by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 6,540,615 shares of the restaurant operator’s stock valued at $1,180,123,000 after buying an additional 76,051 shares during the period. Invesco Ltd. boosted its stake in shares of Texas Roadhouse by 5.9% during the 4th quarter. Invesco Ltd. now owns 2,479,323 shares of the restaurant operator’s stock valued at $447,344,000 after buying an additional 138,675 shares during the period. State Street Corp boosted its stake in shares of Texas Roadhouse by 2.0% during the 3rd quarter. State Street Corp now owns 1,982,848 shares of the restaurant operator’s stock valued at $350,171,000 after buying an additional 38,723 shares during the period. FMR LLC boosted its stake in shares of Texas Roadhouse by 44.8% during the 4th quarter. FMR LLC now owns 1,300,987 shares of the restaurant operator’s stock valued at $234,737,000 after buying an additional 402,465 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Texas Roadhouse by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,207,645 shares of the restaurant operator’s stock valued at $217,959,000 after buying an additional 6,004 shares during the period. Institutional investors and hedge funds own 94.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TXRH. BMO Capital Markets boosted their target price on Texas Roadhouse from $155.00 to $162.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Truist Financial dropped their target price on Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a report on Friday. Barclays dropped their target price on Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating on the stock in a report on Friday. Stephens dropped their target price on Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Robert W. Baird boosted their target price on Texas Roadhouse from $190.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $192.50.

Texas Roadhouse Stock Performance

NASDAQ TXRH opened at $169.13 on Friday. Texas Roadhouse has a twelve month low of $146.51 and a twelve month high of $206.04. The stock has a market cap of $11.28 billion, a price-to-earnings ratio of 29.06, a PEG ratio of 1.25 and a beta of 1.02. The firm’s 50 day moving average price is $179.58 and its two-hundred day moving average price is $180.02.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.07. Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.41 billion. On average, research analysts forecast that Texas Roadhouse will post 6.4 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.68 per share. The ex-dividend date is Tuesday, March 18th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.61%. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.61. Texas Roadhouse’s dividend payout ratio (DPR) is 41.92%.

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.