The Manufacturers Life Insurance Company Cuts Stock Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

The Manufacturers Life Insurance Company lessened its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 17.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,132 shares of the restaurant operator's stock after selling 12,253 shares during the quarter. The Manufacturers Life Insurance Company owned 0.09% of Texas Roadhouse worth $10,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Texas Roadhouse during the 4th quarter worth $30,000. Coppell Advisory Solutions LLC raised its position in shares of Texas Roadhouse by 56.8% during the 4th quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator's stock valued at $35,000 after buying an additional 71 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Texas Roadhouse during the 4th quarter valued at approximately $36,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Texas Roadhouse by 32.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator's stock worth $48,000 after purchasing an additional 65 shares during the period. Finally, VisionPoint Advisory Group LLC purchased a new position in Texas Roadhouse during the 4th quarter valued at $64,000. Hedge funds and other institutional investors own 94.82% of the company's stock.

Texas Roadhouse Stock Performance

Shares of Texas Roadhouse stock traded up $0.12 during trading on Wednesday, reaching $171.37. The company's stock had a trading volume of 1,154,433 shares, compared to its average volume of 879,741. Texas Roadhouse, Inc. has a one year low of $148.73 and a one year high of $206.04. The firm has a market cap of $11.39 billion, a price-to-earnings ratio of 26.49, a price-to-earnings-growth ratio of 1.23 and a beta of 0.87. The business's fifty day moving average price is $168.76 and its 200-day moving average price is $179.51.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.07. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.41 billion. Sell-side analysts anticipate that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were paid a $0.68 dividend. The ex-dividend date was Tuesday, March 18th. This is a positive change from Texas Roadhouse's previous quarterly dividend of $0.61. This represents a $2.72 dividend on an annualized basis and a yield of 1.59%. Texas Roadhouse's dividend payout ratio is presently 42.04%.

Insider Transactions at Texas Roadhouse

In related news, Director Gregory N. Moore sold 2,700 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $168.26, for a total transaction of $454,302.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher C. Colson sold 580 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $181.94, for a total value of $105,525.20. Following the transaction, the insider now owns 12,000 shares in the company, valued at $2,183,280. The trade was a 4.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,535 shares of company stock valued at $2,952,507 in the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TXRH. Barclays increased their price objective on shares of Texas Roadhouse from $178.00 to $179.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 22nd. Stephens cut their price target on shares of Texas Roadhouse from $186.00 to $180.00 and set an "equal weight" rating on the stock in a report on Friday, February 21st. Truist Financial lowered their target price on Texas Roadhouse from $209.00 to $205.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Morgan Stanley raised shares of Texas Roadhouse from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $205.00 to $213.00 in a report on Tuesday, January 21st. Finally, Gordon Haskett lowered Texas Roadhouse from a "buy" rating to a "hold" rating and set a $192.00 target price on the stock. in a research report on Wednesday, January 8th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, Texas Roadhouse presently has an average rating of "Moderate Buy" and an average price target of $191.81.

About Texas Roadhouse

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.