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

Principal Financial Group Inc. cut its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 147,103 shares of the restaurant operator’s stock after selling 3,943 shares during the period. Principal Financial Group Inc.’s holdings in Texas Roadhouse were worth $24,441,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Mutual Advisors LLC raised its position in Texas Roadhouse by 5.2% in the third quarter. Mutual Advisors LLC now owns 2,674 shares of the restaurant operator’s stock valued at $472,000 after purchasing an additional 133 shares during the period. AlphaQuest LLC grew its position in Texas Roadhouse by 490.9% in the 3rd quarter. AlphaQuest LLC now owns 11,174 shares of the restaurant operator’s stock valued at $1,857,000 after acquiring an additional 9,283 shares in the last quarter. Arizona State Retirement System increased its stake in Texas Roadhouse by 1.2% during the third quarter. Arizona State Retirement System now owns 19,621 shares of the restaurant operator’s stock worth $3,260,000 after purchasing an additional 241 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its position in shares of Texas Roadhouse by 22.7% during the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 19,766 shares of the restaurant operator’s stock worth $3,284,000 after purchasing an additional 3,662 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in shares of Texas Roadhouse by 17.5% in the third quarter. Golden State Wealth Management LLC now owns 2,690 shares of the restaurant operator’s stock valued at $447,000 after purchasing an additional 400 shares during the period. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Texas Roadhouse Stock Up 2.7%

Texas Roadhouse stock opened at $190.97 on Friday. The firm has a fifty day moving average of $177.66 and a 200-day moving average of $173.63. The firm has a market capitalization of $12.63 billion, a P/E ratio of 29.20, a PEG ratio of 3.12 and a beta of 0.88. Texas Roadhouse, Inc. has a 52-week low of $148.73 and a 52-week high of $199.99.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, November 6th. The restaurant operator reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Texas Roadhouse had a net margin of 7.49% and a return on equity of 30.59%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 EPS. On average, research analysts expect that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other Texas Roadhouse news, Director Gregory N. Moore sold 1,400 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $170.00, for a total value of $238,000.00. Following the sale, the director directly owned 32,150 shares in the company, valued at approximately $5,465,500. This trade represents a 4.17% 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, Director Hugh J. Carroll sold 1,000 shares of Texas Roadhouse stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $167.27, for a total transaction of $167,270.00. Following the sale, the director owned 1,854 shares in the company, valued at approximately $310,118.58. This represents a 35.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 12,400 shares of company stock valued at $2,320,920 over the last quarter. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of Texas Roadhouse from $205.00 to $208.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. UBS Group reissued a “buy” rating on shares of Texas Roadhouse in a research report on Monday, November 10th. Wall Street Zen cut Texas Roadhouse from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Sanford C. Bernstein set a $185.00 target price on shares of Texas Roadhouse in a report on Wednesday, January 7th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Texas Roadhouse in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Texas Roadhouse currently has a consensus rating of “Moderate Buy” and an average price target of $197.29.

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.