Texas Roadhouse Sees Unusually High Options Volume (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 represents an increase of approximately 134% compared to the average daily volume of 1,462 put options.

Insiders Place Their Bets

In related 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 value of $585,508.56. Following the completion of the transaction, the president now directly owns 18,414 shares in the company, valued at $3,418,374.96. This trade represents a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Curtis Warfield sold 3,281 shares of Texas Roadhouse stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $183.67, for a total transaction of $602,621.27. Following the transaction, the director now directly owns 6,801 shares of the company’s stock, valued at approximately $1,249,139.67. This trade represents a 32.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,905 shares of company stock worth $3,198,367. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of Texas Roadhouse

Institutional investors and hedge funds have recently modified their holdings of the company. True Wealth Design LLC purchased a new position in Texas Roadhouse in the 3rd quarter worth approximately $30,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Texas Roadhouse during the fourth quarter valued at approximately $30,000. Coppell Advisory Solutions LLC lifted its position in Texas Roadhouse by 56.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator’s stock worth $35,000 after buying an additional 71 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Texas Roadhouse in the 4th quarter worth about $36,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Texas Roadhouse by 32.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock valued at $48,000 after buying an additional 65 shares during the period. 94.82% of the stock is currently owned by institutional investors.

Texas Roadhouse Trading Down 1.9 %

NASDAQ TXRH traded down $3.21 on Tuesday, hitting $168.06. 245,136 shares of the company traded hands, compared to its average volume of 802,431. The business’s 50 day moving average price is $177.71 and its 200-day moving average price is $181.29. Texas Roadhouse has a 52-week low of $146.75 and a 52-week high of $206.04. The company has a market capitalization of $11.17 billion, a price-to-earnings ratio of 25.97, a P/E/G ratio of 1.23 and a beta of 1.00.

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, beating analysts’ consensus estimates of $1.66 by $0.07. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. As a group, sell-side analysts predict that Texas Roadhouse will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Tuesday, March 18th. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.61. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.62%. Texas Roadhouse’s dividend payout ratio is 42.04%.

Analyst Ratings Changes

Several research firms have commented on TXRH. Gordon Haskett downgraded Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 target price on the stock. in a report on Wednesday, January 8th. Morgan Stanley upgraded shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $205.00 to $213.00 in a research note on Tuesday, January 21st. Guggenheim reduced their price objective on shares of Texas Roadhouse from $205.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Truist Financial dropped their target price on shares of Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Finally, Stifel Nicolaus reduced their price target on shares of Texas Roadhouse from $185.00 to $172.00 and set a “hold” rating for the company in a research report on Friday, February 21st. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.73.

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.