Principal Financial Group Inc. Raises Stock Holdings in Texas Roadhouse, Inc. $TXRH

Principal Financial Group Inc. lifted its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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. owned about 0.23% of Texas Roadhouse worth $24,579,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in TXRH. Elyxium Wealth LLC acquired a new position in shares of Texas Roadhouse during the fourth quarter valued at $25,000. Princeton Global Asset Management LLC bought a new stake in Texas Roadhouse in the 4th quarter valued at about $31,000. Measured Wealth Private Client Group LLC acquired a new position in Texas Roadhouse during the 3rd quarter valued at about $33,000. Garton & Associates Financial Advisors LLC acquired a new position in Texas Roadhouse during the 4th quarter valued at about $34,000. Finally, TD Private Client Wealth LLC grew its position in Texas Roadhouse by 137.5% in the 4th quarter. TD Private Client Wealth LLC now owns 266 shares of the restaurant operator’s stock worth $44,000 after purchasing an additional 154 shares during the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Texas Roadhouse news, insider Lloyd Paul Marshall sold 1,000 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $178.34, for a total transaction of $178,340.00. Following the sale, the insider directly owned 10,326 shares in the company, valued at $1,841,538.84. This represents a 8.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christopher C. Colson sold 499 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $179.22, for a total transaction of $89,430.78. Following the completion of the transaction, the insider owned 14,500 shares of the company’s stock, valued at $2,598,690. The trade was a 3.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 6,154 shares of company stock valued at $1,115,864. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TXRH. Wall Street Zen raised Texas Roadhouse from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. JPMorgan Chase & Co. upped their price objective on shares of Texas Roadhouse from $182.00 to $188.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Morgan Stanley reiterated an “overweight” rating and issued a $201.00 target price on shares of Texas Roadhouse in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Texas Roadhouse from $200.00 to $212.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Finally, TD Cowen upped their price target on shares of Texas Roadhouse from $192.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Ten research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $194.90.

Texas Roadhouse Stock Down 0.4%

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

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

Texas Roadhouse Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 2nd were issued a dividend of $0.75 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $3.00 dividend on an annualized basis and a yield of 1.5%. Texas Roadhouse’s dividend payout ratio (DPR) is presently 47.92%.

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.