Texas Roadhouse, Inc. (NASDAQ:TXRH) Sees Significant Growth in Short Interest

Texas Roadhouse, Inc. (NASDAQ:TXRH) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 3,310,000 shares, an increase of 43.3% from the February 13th total of 2,310,000 shares. Based on an average daily trading volume, of 1,020,000 shares, the short-interest ratio is currently 3.2 days. Currently, 5.0% of the company’s stock are short sold.

Insider Buying and Selling

In related news, insider Christopher C. Colson sold 1,370 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $179.46, for a total transaction of $245,860.20. Following the sale, the insider now directly owns 10,000 shares of the company’s stock, valued at $1,794,600. This represents a 12.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Hernan E. Mujica sold 2,050 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $170.66, for a total transaction of $349,853.00. Following the sale, the chief technology officer now directly owns 17,162 shares in the company, valued at approximately $2,928,866.92. The trade was a 10.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,905 shares of company stock valued at $3,198,367 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TXRH shares. Stephens dropped their price objective on shares of 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. Wedbush dropped their price objective on shares of Texas Roadhouse from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. The Goldman Sachs Group started coverage on shares of Texas Roadhouse in a research report on Thursday, December 5th. They issued a “neutral” rating and a $213.00 price objective on the stock. Gordon Haskett downgraded shares of Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 price objective on the stock. in a research report on Wednesday, January 8th. Finally, Truist Financial dropped their price objective on shares of Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.73.

Texas Roadhouse Price Performance

Texas Roadhouse stock opened at $172.49 on Monday. Texas Roadhouse has a 12-month low of $146.75 and a 12-month high of $206.04. The stock has a market capitalization of $11.46 billion, a P/E ratio of 26.66, a P/E/G ratio of 1.23 and a beta of 1.00. The firm’s 50-day moving average is $177.89 and its two-hundred day moving average is $181.27.

Texas Roadhouse (NASDAQ:TXRH) last released 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 business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.41 billion. As a group, analysts forecast that Texas Roadhouse will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.61. This represents a $2.72 annualized dividend and a dividend yield of 1.58%. Texas Roadhouse’s dividend payout ratio (DPR) is currently 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.