49,025 Shares in Texas Roadhouse, Inc. $TXRH Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) in the second quarter, Holdings Channel reports. The fund bought 49,025 shares of the restaurant operator’s stock, valued at approximately $9,473,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Elyxium Wealth LLC acquired a new stake in shares of Texas Roadhouse during the 4th quarter valued at $25,000. Basecamp Wealth Advisors LLC grew its holdings in shares of Texas Roadhouse by 5,033.3% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 154 shares of the restaurant operator’s stock worth $25,000 after acquiring an additional 151 shares during the last quarter. Silvant Capital Management LLC acquired a new position in shares of Texas Roadhouse in the 2nd quarter worth $32,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Texas Roadhouse during the third quarter worth $33,000. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in shares of Texas Roadhouse during the fourth quarter worth $34,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Stock Performance

Shares of Texas Roadhouse stock opened at $198.99 on Friday. The stock has a market cap of $13.06 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 1.97 and a beta of 0.79. The business has a fifty day simple moving average of $198.20 and a 200-day simple moving average of $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. Texas Roadhouse, Inc. has a 12 month low of $153.82 and a 12 month high of $216.30.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.02. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.Texas Roadhouse’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.86 earnings per share. On average, sell-side analysts anticipate that Texas Roadhouse, Inc. will post 6.63 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 1st. Texas Roadhouse’s payout ratio is 48.00%.

Insider Buying and Selling

In related news, Director Hugh J. Carroll sold 650 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $203.99, for a total transaction of $132,593.50. Following the completion of the sale, the director directly owned 2,883 shares in the company, valued at approximately $588,103.17. This trade represents a 18.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lloyd Paul Marshall sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $204.65, for a total transaction of $102,325.00. Following the transaction, the insider directly owned 9,826 shares in the company, valued at $2,010,890.90. The trade was a 4.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 20,396 shares of company stock worth $4,143,825 over the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TXRH has been the subject of a number of recent analyst reports. Guggenheim reiterated a “buy” rating and issued a $210.00 price target on shares of Texas Roadhouse in a research report on Monday, May 18th. UBS Group boosted their price objective on Texas Roadhouse from $210.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Benchmark reaffirmed a “hold” rating on shares of Texas Roadhouse in a research note on Monday, August 10th. Wells Fargo & Company raised their target price on shares of Texas Roadhouse from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Texas Roadhouse in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $208.48.

About Texas Roadhouse

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.