The Manufacturers Life Insurance Company Takes $9.47 Million Position in Texas Roadhouse, Inc. $TXRH

The Manufacturers Life Insurance Company purchased a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 49,025 shares of the restaurant operator’s stock, valued at approximately $9,473,000. The Manufacturers Life Insurance Company owned 0.07% of Texas Roadhouse at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Park Presidio Capital LLC acquired a new position in Texas Roadhouse during the 2nd quarter valued at approximately $102,977,000. Visionary Wealth Advisors bought a new position in Texas Roadhouse during the 2nd quarter worth $4,228,000. Algert Global LLC acquired a new stake in Texas Roadhouse in the second quarter worth $3,816,000. Ranger Investment Management L.P. acquired a new stake in Texas Roadhouse in the second quarter worth $21,560,000. Finally, Sanctuary Advisors LLC bought a new stake in Texas Roadhouse in the second quarter valued at $696,000. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Price Performance

Shares of NASDAQ TXRH opened at $198.99 on Friday. Texas Roadhouse, Inc. has a fifty-two week low of $153.82 and a fifty-two week high of $216.30. The firm’s 50-day simple moving average is $198.20 and its 200 day simple moving average is $180.76. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. The stock has a market cap of $13.06 billion, a P/E ratio of 31.84, a P/E/G ratio of 1.97 and a beta of 0.79.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.02. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the firm posted $1.86 EPS. Texas Roadhouse’s revenue was up 11.1% compared to the same quarter last year. Equities analysts expect that Texas Roadhouse, Inc. will post 6.63 EPS for the current year.

Texas Roadhouse Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 1st. Texas Roadhouse’s dividend payout ratio (DPR) is currently 48.00%.

Insider Activity

In other news, Director Donna E. Epps sold 820 shares of Texas Roadhouse stock in a transaction on Monday, August 17th. The stock was sold at an average price of $206.56, for a total transaction of $169,379.20. Following the transaction, the director directly owned 4,042 shares in the company, valued at approximately $834,915.52. This trade represents a 16.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lloyd Paul Marshall sold 500 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $204.65, for a total value of $102,325.00. Following the completion of the sale, the insider directly owned 9,826 shares in the company, valued at $2,010,890.90. This represents a 4.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,396 shares of company stock valued at $4,143,825 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on TXRH. Barclays lowered their price target on shares of Texas Roadhouse from $188.00 to $175.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. Stephens lifted their price objective on shares of Texas Roadhouse from $180.00 to $205.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Royal Bank Of Canada boosted their target price on shares of Texas Roadhouse from $210.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. BTIG Research upped their target price on shares of Texas Roadhouse from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Citigroup lifted their price target on Texas Roadhouse from $193.00 to $209.00 and gave the company a “neutral” rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $208.48.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.