Voya Investment Management LLC Reduces Holdings in Texas Roadhouse, Inc. $TXRH

Key Points

• Voya Investment Management LLC has reduced its stake in Texas Roadhouse by 13.9%, selling nearly 50,000 shares, while still holding around 310,375 shares valued at approximately $51.7 million.
• Several hedge funds significantly increased their stakes in Texas Roadhouse during the same period, with Axiom Investors LLC DE growing its holdings by nearly 3,700%, now owning over 2 million shares valued at $362.2 million.
• Texas Roadhouse recently announced a quarterly dividend of $0.68 per share, with an annualized yield of 1.6%, reflecting a payout ratio of 41.53%.

Voya Investment Management LLC lowered its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 13.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 310,375 shares of the restaurant operator's stock after selling 49,964 shares during the quarter. Voya Investment Management LLC owned 0.47% of Texas Roadhouse worth $51,718,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Advisory Alpha LLC boosted its stake in shares of Texas Roadhouse by 3.0% during the 1st quarter. Advisory Alpha LLC now owns 2,063 shares of the restaurant operator's stock worth $344,000 after acquiring an additional 60 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in Texas Roadhouse by 2.3% in the 1st quarter. Valeo Financial Advisors LLC now owns 2,750 shares of the restaurant operator's stock valued at $458,000 after acquiring an additional 62 shares during the last quarter. Optas LLC grew its stake in Texas Roadhouse by 1.3% in the 1st quarter. Optas LLC now owns 5,217 shares of the restaurant operator's stock valued at $869,000 after acquiring an additional 65 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Texas Roadhouse by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,627 shares of the restaurant operator's stock valued at $2,271,000 after acquiring an additional 66 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Texas Roadhouse by 14.0% in the 1st quarter. Smartleaf Asset Management LLC now owns 601 shares of the restaurant operator's stock valued at $103,000 after acquiring an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 94.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Guggenheim reissued a "buy" rating and issued a $210.00 price objective on shares of Texas Roadhouse in a research note on Tuesday. The Goldman Sachs Group increased their price objective on shares of Texas Roadhouse from $184.00 to $205.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Morgan Stanley increased their price objective on shares of Texas Roadhouse from $200.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. UBS Group raised their price target on shares of Texas Roadhouse from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Finally, Truist Financial set a $212.00 price target on shares of Texas Roadhouse and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $197.35.

Insider Activity

In other news, Director Gregory N. Moore sold 3,000 shares of Texas Roadhouse stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $173.06, for a total transaction of $519,180.00. Following the sale, the director owned 34,550 shares in the company, valued at $5,979,223. This trade represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Hernan E. Mujica sold 2,189 shares of Texas Roadhouse stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $172.40, for a total transaction of $377,383.60. Following the sale, the chief technology officer owned 17,553 shares in the company, valued at $3,026,137.20. This represents a 11.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,342 shares of company stock worth $1,443,704 over the last 90 days. Company insiders own 0.50% of the company's stock.

Texas Roadhouse Price Performance

NASDAQ TXRH traded down $5.12 during mid-day trading on Thursday, hitting $159.19. The company's stock had a trading volume of 579,039 shares, compared to its average volume of 1,107,177. Texas Roadhouse, Inc. has a 52-week low of $148.73 and a 52-week high of $206.04. The stock's fifty day simple moving average is $177.27 and its two-hundred day simple moving average is $178.21. The firm has a market capitalization of $10.58 billion, a P/E ratio of 24.31, a price-to-earnings-growth ratio of 2.26 and a beta of 0.84.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The restaurant operator reported $1.86 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.09). Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the previous year, the business posted $1.79 EPS. The company's quarterly revenue was up 12.7% on a year-over-year basis. On average, equities analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be issued a $0.68 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.72 annualized dividend and a yield of 1.7%. Texas Roadhouse's dividend payout ratio (DPR) is presently 41.53%.

Texas Roadhouse Profile

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.