Texas Roadhouse, Inc. (NASDAQ:TXRH) Short Interest Update

Texas Roadhouse, Inc. (NASDAQ:TXRH - Get Free Report) was the recipient of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 2,700,000 shares, a drop of 18.4% from the February 28th total of 3,310,000 shares. Currently, 4.1% of the company's shares are sold short. Based on an average daily trading volume, of 1,100,000 shares, the short-interest ratio is presently 2.5 days.

Insiders Place Their Bets

In related news, Director Gregory N. Moore sold 2,700 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $168.26, for a total transaction of $454,302.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Regina A. Tobin sold 3,154 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $185.64, for a total transaction of $585,508.56. Following the completion of the transaction, the president now directly owns 18,414 shares of the company's stock, valued at $3,418,374.96. This trade represents a 14.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,905 shares of company stock worth $3,198,367. Insiders own 0.50% of the company's stock.

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Institutional Investors Weigh In On Texas Roadhouse

Large investors have recently modified their holdings of the business. FMR LLC boosted its stake in Texas Roadhouse by 81.6% in the third quarter. FMR LLC now owns 898,522 shares of the restaurant operator's stock valued at $158,679,000 after buying an additional 403,720 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Texas Roadhouse by 3.0% in the third quarter. D.A. Davidson & CO. now owns 5,129 shares of the restaurant operator's stock worth $906,000 after acquiring an additional 149 shares during the last quarter. Quantbot Technologies LP boosted its stake in shares of Texas Roadhouse by 120.9% in the 3rd quarter. Quantbot Technologies LP now owns 5,403 shares of the restaurant operator's stock valued at $954,000 after purchasing an additional 2,957 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Texas Roadhouse by 12.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 51,181 shares of the restaurant operator's stock valued at $9,039,000 after purchasing an additional 5,660 shares during the last quarter. Finally, Glenmede Trust Co. NA increased its position in Texas Roadhouse by 22.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,048 shares of the restaurant operator's stock worth $362,000 after purchasing an additional 375 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company's stock.

Texas Roadhouse Stock Performance

Shares of NASDAQ TXRH traded down $7.19 during mid-day trading on Friday, reaching $159.86. The company had a trading volume of 1,929,890 shares, compared to its average volume of 850,917. The firm has a market cap of $10.62 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 1.23 and a beta of 1.00. The business's 50-day simple moving average is $175.08 and its 200 day simple moving average is $181.66. Texas Roadhouse has a one year low of $146.75 and a one year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 EPS for the quarter, beating the consensus estimate of $1.66 by $0.07. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. On average, sell-side analysts anticipate that Texas Roadhouse will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were given a dividend of $0.68 per share. This is an increase from Texas Roadhouse's previous quarterly dividend of $0.61. This represents a $2.72 annualized dividend and a yield of 1.70%. The ex-dividend date was Tuesday, March 18th. Texas Roadhouse's payout ratio is currently 42.04%.

Analyst Ratings Changes

TXRH has been the subject of several research reports. Barclays lowered 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 report on Friday, February 21st. Truist Financial decreased their price target on shares of Texas Roadhouse from $209.00 to $205.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Guggenheim lowered their price objective on shares of Texas Roadhouse from $205.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Stephens reduced their target price on shares of Texas Roadhouse from $186.00 to $180.00 and set an "equal weight" rating for the company in a report on Friday, February 21st. Finally, Morgan Stanley raised shares of Texas Roadhouse from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $205.00 to $213.00 in a research report on Tuesday, January 21st. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $193.36.

Texas Roadhouse Company Profile

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.