Principal Financial Group Inc. Buys 7,039 Shares of Texas Roadhouse, Inc. $TXRH

Principal Financial Group Inc. lifted its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 5.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 148,837 shares of the restaurant operator’s stock after purchasing an additional 7,039 shares during the period. Principal Financial Group Inc.’s holdings in Texas Roadhouse were worth $24,579,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Elyxium Wealth LLC purchased a new stake in Texas Roadhouse in the 4th quarter worth approximately $25,000. Princeton Global Asset Management LLC purchased a new position in shares of Texas Roadhouse during the 4th quarter valued at $31,000. Measured Wealth Private Client Group LLC bought a new position in shares of Texas Roadhouse in the third quarter worth $33,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Texas Roadhouse in the fourth quarter worth $34,000. Finally, TD Private Client Wealth LLC raised its position in shares of Texas Roadhouse by 137.5% in the fourth quarter. TD Private Client Wealth LLC now owns 266 shares of the restaurant operator’s stock worth $44,000 after buying an additional 154 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TXRH. Stifel Nicolaus lifted their price target on Texas Roadhouse from $170.00 to $180.00 and gave the company a “hold” rating in a research report on Tuesday, May 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Texas Roadhouse in a research report on Friday, May 29th. Citigroup cut their price target on shares of Texas Roadhouse from $176.00 to $174.00 and set a “neutral” rating for the company in a research note on Friday, May 8th. Wall Street Zen upgraded shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Texas Roadhouse from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday. Ten investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $194.90.

Insider Transactions at Texas Roadhouse

In other news, Director Curtis Warfield sold 2,640 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $183.05, for a total transaction of $483,252.00. Following the transaction, the director owned 5,361 shares of the company’s stock, valued at approximately $981,331.05. This represents a 33.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Lloyd Paul Marshall sold 1,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $178.34, for a total value of $178,340.00. Following the completion of the sale, the insider owned 10,326 shares in the company, valued at approximately $1,841,538.84. The trade was a 8.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 6,154 shares of company stock valued at $1,115,864. 0.50% of the stock is owned by corporate insiders.

Texas Roadhouse Stock Performance

Shares of TXRH stock opened at $196.26 on Tuesday. Texas Roadhouse, Inc. has a one year low of $153.82 and a one year high of $200.11. The company’s 50-day moving average is $180.80 and its 200 day moving average is $176.73. The company has a market capitalization of $12.90 billion, a price-to-earnings ratio of 31.35, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.40 and a current ratio of 0.46.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.07. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the previous year, the business earned $1.70 earnings per share. Texas Roadhouse’s quarterly revenue was up 10.5% compared to the same quarter last year. Sell-side analysts expect that Texas Roadhouse, Inc. will post 6.44 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, June 2nd. Texas Roadhouse’s payout ratio is presently 47.92%.

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.