Texas Roadhouse, Inc. (NASDAQ:TXRH) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 5.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 82,642 shares of the restaurant operator’s stock after selling 4,973 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.12% of Texas Roadhouse worth $14,190,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Millennium Management LLC boosted its stake in Texas Roadhouse by 25.0% during the 2nd quarter. Millennium Management LLC now owns 583,009 shares of the restaurant operator’s stock valued at $100,108,000 after purchasing an additional 116,721 shares during the period. Maverick Capital Ltd. acquired a new position in shares of Texas Roadhouse during the second quarter worth approximately $2,066,000. Deerfield Management Company L.P. Series C acquired a new position in shares of Texas Roadhouse during the second quarter worth approximately $696,000. AQR Capital Management LLC grew its holdings in Texas Roadhouse by 22.3% in the 2nd quarter. AQR Capital Management LLC now owns 909,847 shares of the restaurant operator’s stock worth $156,230,000 after buying an additional 165,738 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in Texas Roadhouse in the 2nd quarter valued at approximately $127,000. Institutional investors own 94.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price target on Texas Roadhouse from $190.00 to $193.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Morgan Stanley raised their target price on shares of Texas Roadhouse from $155.00 to $162.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 16th. Citigroup upped their price target on shares of Texas Roadhouse from $192.00 to $201.00 and gave the stock a “buy” rating in a research note on Tuesday. Guggenheim raised their price objective on shares of Texas Roadhouse from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Wedbush restated an “outperform” rating and issued a $190.00 target price on shares of Texas Roadhouse in a research report on Tuesday, September 24th. Thirteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Texas Roadhouse currently has an average rating of “Hold” and an average price target of $176.60.

Texas Roadhouse Price Performance

Texas Roadhouse stock opened at $178.23 on Thursday. Texas Roadhouse, Inc. has a fifty-two week low of $91.06 and a fifty-two week high of $180.69. The firm’s 50 day simple moving average is $168.78 and its 200-day simple moving average is $165.26. The company has a market cap of $11.88 billion, a P/E ratio of 36.08, a price-to-earnings-growth ratio of 1.58 and a beta of 0.99.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, July 25th. The restaurant operator reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.15. Texas Roadhouse had a net margin of 7.47% and a return on equity of 30.94%. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the company posted $1.22 EPS. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, analysts expect that Texas Roadhouse, Inc. will post 6.33 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Wednesday, September 4th were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Wednesday, September 4th. Texas Roadhouse’s payout ratio is 49.39%.

Texas Roadhouse Profile

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