Principal Financial Group Inc. Has $11,861,000 Stake in Texas Roadhouse Inc. (TXRH)
Principal Financial Group Inc. reduced its position in Texas Roadhouse Inc. (NASDAQ:TXRH) by 41.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 260,103 shares of the company’s stock after selling 186,625 shares during the period. Principal Financial Group Inc. owned about 0.37% of Texas Roadhouse worth $11,861,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the company. Mesirow Financial Investment Management Equity Management bought a new position in shares of Texas Roadhouse during the second quarter worth about $21,691,000. Nationwide Fund Advisors raised its position in shares of Texas Roadhouse by 527.3% in the second quarter. Nationwide Fund Advisors now owns 453,189 shares of the company’s stock worth $20,665,000 after buying an additional 380,945 shares during the period. Henderson Group PLC bought a new position in shares of Texas Roadhouse during the second quarter worth about $12,265,000. JPMorgan Chase & Co. raised its position in shares of Texas Roadhouse by 91.1% in the second quarter. JPMorgan Chase & Co. now owns 535,417 shares of the company’s stock worth $24,415,000 after buying an additional 255,177 shares during the period. Finally, Boston Advisors LLC bought a new position in shares of Texas Roadhouse during the second quarter worth about $10,006,000. 88.84% of the stock is currently owned by institutional investors and hedge funds.
Texas Roadhouse Inc. (NASDAQ:TXRH) opened at 37.97 on Wednesday. The firm has a market capitalization of $2.67 billion, a P/E ratio of 23.88 and a beta of 0.54. Texas Roadhouse Inc. has a 52-week low of $33.06 and a 52-week high of $49.00. The firm’s 50-day moving average is $42.19 and its 200-day moving average is $44.13.
Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Monday, August 1st. The company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.02. Texas Roadhouse had a return on equity of 16.78% and a net margin of 5.88%. The company earned $509 million during the quarter, compared to the consensus estimate of $509.80 million. During the same quarter last year, the firm earned $0.30 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. On average, equities analysts expect that Texas Roadhouse Inc. will post $1.78 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, September 14th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Monday, September 12th. Texas Roadhouse’s payout ratio is currently 48.10%.
A number of equities analysts recently issued reports on TXRH shares. KeyCorp reaffirmed a “buy” rating and set a $50.00 target price on shares of Texas Roadhouse in a research report on Tuesday, August 16th. Jefferies Group lowered shares of Texas Roadhouse from a “hold” rating to an “underperform” rating and set a $37.00 target price on the stock. in a research report on Tuesday, July 26th. Zacks Investment Research raised shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a research report on Saturday, July 30th. Stifel Nicolaus lowered shares of Texas Roadhouse from a “buy” rating to a “hold” rating and dropped their target price for the stock from $50.00 to $47.00 in a research report on Tuesday, July 26th. Finally, Telsey Advisory Group lowered shares of Texas Roadhouse from an “outperform” rating to a “market perform” rating and set a $48.00 target price on the stock. in a research report on Tuesday, July 26th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $43.78.
In related news, CEO Wayne Kent Taylor sold 150,000 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $46.03, for a total value of $6,904,500.00. Following the transaction, the chief executive officer now owns 4,363,261 shares in the company, valued at $200,840,903.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Zarley purchased 23,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was bought at an average price of $42.23 per share, for a total transaction of $1,005,074.00. Following the transaction, the director now directly owns 104,000 shares of the company’s stock, valued at approximately $4,391,920. The disclosure for this purchase can be found here. 7.40% of the stock is owned by corporate insiders.
Texas Roadhouse Company Profile
Texas Roadhouse, Inc is a restaurant company, which operates in the casual dining segment. The Company offers an assortment of seasoned and aged steaks hand-cut daily on the premises and cooked to order over open grills. In addition to steaks, the Company also offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, and an assortment of hamburgers, salads and sandwiches.
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