ING Groep NV bought a new position in shares of Brinker International, Inc. (NYSE:EAT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,953 shares of the restaurant operator’s stock, valued at approximately $227,000.
Other institutional investors have also made changes to their positions in the company. Kernodle & Katon Asset Management Group LLC raised its position in shares of Brinker International by 0.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 4,864 shares of the restaurant operator’s stock worth $214,000 after buying an additional 17 shares during the last quarter. Eqis Capital Management Inc. raised its position in shares of Brinker International by 0.3% in the first quarter. Eqis Capital Management Inc. now owns 6,393 shares of the restaurant operator’s stock worth $281,000 after buying an additional 18 shares during the last quarter. Creative Planning raised its position in shares of Brinker International by 2.7% in the first quarter. Creative Planning now owns 6,843 shares of the restaurant operator’s stock worth $301,000 after buying an additional 180 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Brinker International by 1.0% in the first quarter. Oregon Public Employees Retirement Fund now owns 19,564 shares of the restaurant operator’s stock worth $860,000 after buying an additional 200 shares during the last quarter. Finally, State Treasurer State of Michigan raised its position in shares of Brinker International by 1.5% in the second quarter. State Treasurer State of Michigan now owns 20,177 shares of the restaurant operator’s stock worth $769,000 after buying an additional 300 shares during the last quarter.
Shares of Brinker International, Inc. (NYSE EAT) traded up 1.23% during midday trading on Friday, reaching $35.32. The company’s stock had a trading volume of 1,832,161 shares. The stock has a 50 day moving average price of $36.42 and a 200-day moving average price of $41.04. Brinker International, Inc. has a 52-week low of $33.41 and a 52-week high of $55.84. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 12.01 and a beta of 0.25.
Brinker International (NYSE:EAT) last posted its earnings results on Thursday, August 10th. The restaurant operator reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.05. The business had revenue of $810.66 million during the quarter, compared to the consensus estimate of $809.94 million. Brinker International had a negative return on equity of 31.46% and a net margin of 4.79%. Brinker International’s revenue was down 8.1% on a year-over-year basis. During the same quarter last year, the company earned $1.24 EPS. Equities research analysts expect that Brinker International, Inc. will post $3.22 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 8th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend is Thursday, September 7th. This is an increase from Brinker International’s previous quarterly dividend of $0.34. Brinker International’s dividend payout ratio (DPR) is 45.48%.
Brinker International declared that its board has approved a stock buyback program on Thursday, August 10th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the restaurant operator to reacquire up to 14.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of brokerages have issued reports on EAT. Barclays PLC cut their target price on Brinker International from $47.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 19th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Brinker International in a research report on Monday, July 24th. Maxim Group reaffirmed a “buy” rating and issued a $54.00 target price on shares of Brinker International in a research report on Tuesday, April 25th. BMO Capital Markets raised Brinker International from an “underperform” rating to a “market perform” rating and set a $40.00 target price on the stock in a research report on Thursday, June 22nd. Finally, Zacks Investment Research lowered Brinker International from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $46.31.
Brinker International Company Profile
Brinker International, Inc is engaged in the ownership, operation, development, and franchising of the Chili’s Grill & Bar (Chili’s) and Maggiano’s Little Italy (Maggiano’s) restaurant brands. The Company’s Chili’s operates Bar & Grill category of casual dining. Chili’s menu features authentic Fresh Mex and Fresh Tex cuisine, including signature items, such as Baby Back Ribs smoked in-house, Hand-Crafted Burgers served with house-made garlic dill pickles, Mix and Match Fajitas, Tableside Guacamole and house-made Chips and Salsa.
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