Texas Roadhouse Inc (NASDAQ:TXRH) announced a quarterly dividend on Thursday, August 15th, Zacks reports. Investors of record on Wednesday, September 11th will be paid a dividend of 0.30 per share by the restaurant operator on Friday, September 27th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Tuesday, September 10th.
Texas Roadhouse has raised its dividend payment by an average of 6.4% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Texas Roadhouse has a payout ratio of 51.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Texas Roadhouse to earn $2.50 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 48.0%.
Shares of TXRH stock opened at $52.87 on Friday. The firm has a 50-day moving average of $53.03 and a 200-day moving average of $56.34. The company has a market cap of $3.66 billion, a P/E ratio of 24.03, a P/E/G ratio of 2.04 and a beta of 0.61. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.61 and a quick ratio of 0.56. Texas Roadhouse has a one year low of $48.64 and a one year high of $75.24.
In other Texas Roadhouse news, insider S. Chris Jacobsen sold 2,500 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $60.00, for a total transaction of $150,000.00. Following the completion of the transaction, the insider now owns 21,197 shares in the company, valued at $1,271,820. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory N. Moore sold 23,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $55.53, for a total transaction of $1,277,190.00. The disclosure for this sale can be found here. 5.89% of the stock is currently owned by corporate insiders.
Several analysts have recently commented on TXRH shares. Zacks Investment Research upgraded shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. BidaskClub upgraded shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. KeyCorp initiated coverage on shares of Texas Roadhouse in a research report on Tuesday, July 23rd. They set a “sector weight” rating for the company. Maxim Group restated a “buy” rating and set a $66.00 price target (up previously from $63.00) on shares of Texas Roadhouse in a research report on Friday, July 26th. Finally, BTIG Research upgraded shares of Texas Roadhouse from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Friday, May 17th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $62.70.
Texas Roadhouse Company Profile
Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises Texas Roadhouse and Bubba's 33 restaurants. As of April 29, 2019, it owned and operated approximately 590 restaurants. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.
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