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

The Manufacturers Life Insurance Company lessened its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 16.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,385 shares of the restaurant operator's stock after selling 13,257 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.10% of Texas Roadhouse worth $12,253,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TXRH. Bank of Montreal Can raised its stake in Texas Roadhouse by 2,216.1% in the third quarter. Bank of Montreal Can now owns 176,280 shares of the restaurant operator's stock valued at $30,831,000 after purchasing an additional 168,669 shares in the last quarter. Independent Advisor Alliance raised its stake in Texas Roadhouse by 1.1% during the third quarter. Independent Advisor Alliance now owns 7,654 shares of the restaurant operator's stock worth $1,352,000 after acquiring an additional 80 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Texas Roadhouse in the third quarter worth about $406,000. Centaurus Financial Inc. acquired a new stake in shares of Texas Roadhouse in the 3rd quarter valued at approximately $102,000. Finally, Alpha DNA Investment Management LLC grew its holdings in shares of Texas Roadhouse by 10.1% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 6,492 shares of the restaurant operator's stock valued at $1,146,000 after purchasing an additional 596 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company's stock.

Insiders Place Their Bets

In other Texas Roadhouse news, Director Donna E. Epps sold 610 shares of the business's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $195.66, for a total value of $119,352.60. Following the sale, the director now directly owns 3,532 shares in the company, valued at $691,071.12. The trade was a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Hernan E. Mujica sold 1,500 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $202.26, for a total value of $303,390.00. Following the transaction, the chief technology officer now owns 16,342 shares of the company's stock, valued at $3,305,332.92. The trade was a 8.41 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.50% of the company's stock.

Texas Roadhouse Price Performance

Shares of TXRH stock traded down $7.07 on Tuesday, reaching $198.20. 719,014 shares of the company were exchanged, compared to its average volume of 631,929. The company has a 50-day moving average of $187.65 and a 200-day moving average of $175.39. The company has a market cap of $13.22 billion, a price-to-earnings ratio of 34.05, a PEG ratio of 1.75 and a beta of 0.98. Texas Roadhouse, Inc. has a one year low of $112.87 and a one year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.06). The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. Texas Roadhouse had a return on equity of 31.33% and a net margin of 7.65%. The business's quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.95 EPS. As a group, sell-side analysts predict that Texas Roadhouse, Inc. will post 6.39 EPS for the current year.

Texas Roadhouse Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 1.23%. The ex-dividend date is Tuesday, December 10th. Texas Roadhouse's dividend payout ratio is 41.92%.

Analyst Ratings Changes

A number of analysts have weighed in on TXRH shares. Bank of America raised their target price on shares of Texas Roadhouse from $206.00 to $234.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Stifel Nicolaus upped their target price on Texas Roadhouse from $180.00 to $195.00 and gave the stock a "hold" rating in a report on Friday, October 25th. Morgan Stanley lifted their price target on Texas Roadhouse from $200.00 to $205.00 and gave the company an "equal weight" rating in a research note on Friday, October 25th. Loop Capital dropped their price objective on shares of Texas Roadhouse from $215.00 to $209.00 and set a "buy" rating for the company in a report on Monday, October 28th. Finally, BMO Capital Markets boosted their target price on shares of Texas Roadhouse from $155.00 to $162.00 and gave the stock a "market perform" rating in a report on Friday, October 25th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $189.00.

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.