Voya Investment Management LLC Sells 49,964 Shares of 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 trimmed its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 13.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 310,375 shares of the restaurant operator's stock after selling 49,964 shares during the period. Voya Investment Management LLC owned about 0.47% of Texas Roadhouse worth $51,718,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in TXRH. Axiom Investors LLC DE grew its holdings in Texas Roadhouse by 3,696.7% during the 1st quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator's stock valued at $362,221,000 after purchasing an additional 2,116,552 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Texas Roadhouse by 209.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,609,608 shares of the restaurant operator's stock valued at $268,209,000 after purchasing an additional 1,089,256 shares during the last quarter. Congress Asset Management Co. grew its stake in Texas Roadhouse by 8,956.4% in the 1st quarter. Congress Asset Management Co. now owns 465,679 shares of the restaurant operator's stock worth $77,596,000 after acquiring an additional 460,537 shares in the last quarter. AQR Capital Management LLC grew its stake in Texas Roadhouse by 54.3% in the 1st quarter. AQR Capital Management LLC now owns 1,261,587 shares of the restaurant operator's stock worth $209,840,000 after acquiring an additional 443,767 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Texas Roadhouse by 19,250.9% in the 1st quarter. GAMMA Investing LLC now owns 325,095 shares of the restaurant operator's stock worth $54,171,000 after acquiring an additional 323,415 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TXRH has been the topic of a number of research analyst reports. Guggenheim upped their target price on shares of Texas Roadhouse from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Barclays upped their target price on shares of Texas Roadhouse from $175.00 to $189.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Bank of America upped their target price on shares of Texas Roadhouse from $203.00 to $219.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Morgan Stanley upped their target price on shares of Texas Roadhouse from $200.00 to $205.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Finally, Stifel Nicolaus increased their price objective on shares of Texas Roadhouse from $180.00 to $188.00 and gave the company a "hold" rating in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $197.35.

Insider Activity at Texas Roadhouse

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

Texas Roadhouse Stock Down 0.3%

NASDAQ:TXRH opened at $166.69 on Friday. Texas Roadhouse, Inc. has a 52 week low of $148.73 and a 52 week high of $206.04. The firm has a 50 day moving average of $178.58 and a 200 day moving average of $178.53. The stock has a market capitalization of $11.08 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 2.28 and a beta of 0.84.

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

Texas Roadhouse Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.72 dividend on an annualized basis and a yield of 1.6%. Texas Roadhouse's dividend payout ratio is presently 41.53%.

Texas Roadhouse Company 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.

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