Texas Roadhouse, Inc. (NASDAQ:TXRH) Plans Quarterly Dividend of $0.68

Texas Roadhouse, Inc. (NASDAQ:TXRH) announced a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Stockholders of record on Tuesday, March 18th will be given a dividend of 0.68 per share by the restaurant operator on Tuesday, April 1st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.61.

Texas Roadhouse has increased its dividend payment by an average of 26.7% per year over the last three years. Texas Roadhouse has a payout ratio of 30.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Texas Roadhouse to earn $7.23 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 33.7%.

Texas Roadhouse Stock Performance

Shares of NASDAQ:TXRH traded down $2.73 during trading on Friday, reaching $168.84. 2,207,018 shares of the stock traded hands, compared to its average volume of 1,053,874. The stock has a 50-day moving average of $179.58 and a two-hundred day moving average of $180.02. Texas Roadhouse has a 52-week low of $146.51 and a 52-week high of $206.04. The stock has a market cap of $11.26 billion, a P/E ratio of 29.01, a price-to-earnings-growth ratio of 1.25 and a beta of 1.02.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 EPS for the quarter, beating analysts’ consensus estimates 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. Sell-side analysts expect that Texas Roadhouse will post 6.4 earnings per share for the current year.

Insider Activity

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

Analysts Set New Price Targets

Several brokerages recently issued reports on TXRH. Morgan Stanley upgraded shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $205.00 to $213.00 in a report on Tuesday, January 21st. Barclays dropped their target price on shares of Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating on the stock in a report on Friday. 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 report on Friday. The Goldman Sachs Group began coverage on shares of Texas Roadhouse in a report on Thursday, December 5th. They issued a “neutral” rating and a $213.00 target price on the stock. Finally, Gordon Haskett cut shares of 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. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Texas Roadhouse presently has a consensus rating of “Moderate Buy” and an average target price of $192.50.

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.