Texas Roadhouse, Inc. (NASDAQ:TXRH) plans a quarterly dividend of $0.61

Texas Roadhouse, Inc. (NASDAQ:TXRH – Get Free Report ) announced a quarterly dividend on Thursday, August 8th, Zacks reports. Stockholders of record on Wednesday, September 4th will be paid a dividend of 0.61 per share by the restaurant operator on Tuesday, September 24th. This represents an annualized dividend of $2.44 and a dividend yield of 1.46%. The ex-dividend date is Wednesday, September 4.

Texas Roadhouse has increased its dividend by an average of 82.8% annually over the past three years. Texas Roadhouse has a dividend payout ratio of 35.4%, indicating that its dividend is sufficiently covered by earnings. Analysts expect Texas Roadhouse to earn $6.95 per share next year, meaning the company should be able to continue to cover its $2.44 annual dividend with an estimated future payout ratio of 35.1% .

Texas Roadhouse stock down 0.3%

NASDAQ:TXRH traded down $0.53 during trading hours on Friday, reaching $167.56. The company had a trading volume of 491,070 shares, compared to its average volume of 805,270. Texas Roadhouse has a 12-month low of $91.06 and a 12-month high of $177.72. The company’s 50-day SMA is $169.67, and its 200-day SMA is $157.52. The firm has a market cap of $11.19 billion, a price-to-earnings ratio of 33.92, a P/E/G ratio of 1.50 and a beta of 1.01.

Texas Roadhouse (NASDAQ:TXRH – Get Your Free Report ) last issued its earnings results on Thursday, July 25th. The restaurant operator reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.15. Texas Roadhouse had a return on equity of 30.94% and a net margin of 7.47%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the company posted earnings of $1.22 per share. The company’s revenue for the quarter was up 14.5% year over year. As a group, equities analysts predict that Texas Roadhouse will post 6.34 earnings per share for the current year.

Insiders place their bets

In other news, CEO Gerald L. Morgan sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $171.70, for a total transaction of $2,575,500.00. Following the transaction, the chief executive officer now directly owns 77,847 shares of the company’s stock, valued at $13,366,329.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. In related news, CTO Hernan E. Mujica sold 3,000 shares of Texas Roadhouse stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $168.60, for a total transaction of $505,800.00. Following the sale, the chief technology officer now directly owns 17,842 shares in the company, valued at $3,008,161.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, CEO Gerald L. Morgan sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $171.70, for a total value of $2,575,500.00. Following the transaction, the chief executive officer now directly owns 77,847 shares of the company’s stock, valued at approximately $13,366,329.90. The disclosure for this sale can be found here. The insiders of the company own 0.50% of the shares of the company.

Analysts set new price targets

Several brokerages recently weighed in on TXRH. Evercore ISI lifted their price target on Texas Roadhouse from $175.00 to $195.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Barclays upped their target price on shares of Texas Roadhouse from $138.00 to $160.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Bank of America boosted their price objective on shares of Texas Roadhouse from $189.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Citigroup upped their target price on shares of Texas Roadhouse from $178.00 to $183.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Texas Roadhouse from $190.00 to $193.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th . Thirteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $169.86, according to MarketBeat.

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About Texas Roadhouse

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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 names Texas Roadhouse, Bubba’s 33 and Jaggers in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is headquartered in Louisville, Kentucky.

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