In a recent transaction, Gregory N. Moore, a director at Texas Roadhouse , Inc. (NASDAQ:TXRH), has sold a significant portion of his holdings in the company. The sale, which took place on May 9, 2024, involved 6,300 shares of common stock at an average price of $166.69 per share, resulting in a total value of $1,050,147.
The shares were sold in a price range between $166.40 and $167.00, as indicated by the weighted average sale price reported. Following the sale, Moore's remaining ownership in Texas Roadhouse stands at 41,050 shares held indirectly through the Moore Family Trust, for which he is a co-trustee. However, it's noted that Moore disclaims beneficial ownership of the portion of those shares in which he does not have an actual pecuniary interest.
The recent sale by Moore could be of interest to investors and market watchers, as insider transactions are often closely monitored for insights into a company's performance and the confidence that executives and directors have in their firm's prospects.
Texas Roadhouse, headquartered in Louisville, Kentucky, is known for its chain of dining restaurants and has been a staple in the retail eating places sector. The company's stock is publicly traded under the ticker symbol TXRH on the NASDAQ stock exchange.
Investors and shareholders may request more detailed information about the specific number of shares sold at each separate price directly from the company or the reporting individual, should they require it.
InvestingPro Insights
As investors analyze the recent insider transaction at Texas Roadhouse, Inc. (NASDAQ:TXRH), it's essential to consider the company's financial health and market performance for a broader context. With a robust market capitalization of $11.17 billion, Texas Roadhouse stands as a significant player in the dining restaurant sector. The company's earnings multiple is high, with a P/E ratio of 33.7, reflecting investors' willingness to pay a premium for its earnings potential. This is further substantiated by the fact that 22 analysts have revised their earnings expectations upwards for the upcoming period, signaling confidence in the company's future performance.
Despite a challenging environment for gross profit margins, which currently stand at 16.88%, Texas Roadhouse has demonstrated revenue growth over the last twelve months as of Q1 2024, at a rate of 13.73%. This growth momentum is evident in the quarterly figures as well, with a 12.51% increase in revenue in Q1 2024. Additionally, the company has maintained its dividend payments for an impressive 14 consecutive years, with a dividend yield of 1.46% as of the latest data, and has raised its dividend for the last three consecutive years.
For investors looking for further insights and analysis, there are additional InvestingPro Tips available at InvestingPro, which could provide a deeper understanding of Texas Roadhouse's financial nuances and investment potential. For instance, the company's trading at a high P/E ratio relative to near-term earnings growth and a high Price / Book multiple of 9.25 could be areas for investors to explore further. With the use of the promo code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to a total of 19 InvestingPro Tips for Texas Roadhouse, Inc., including insights on profitability, debt levels, and valuation multiples.
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