Texas Permanent School Fund boosted its position in shares of Brinker International, Inc. (NYSE:EAT) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,725 shares of the restaurant operator’s stock after buying an additional 337 shares during the period. Texas Permanent School Fund owned approximately 0.07% of Brinker International worth $1,361,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Creative Planning boosted its stake in 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 period. Atria Investments LLC boosted its stake in Brinker International by 72.9% in the first quarter. Atria Investments LLC now owns 9,321 shares of the restaurant operator’s stock worth $410,000 after buying an additional 3,930 shares during the period. Fox Run Management L.L.C. purchased a new stake in Brinker International during the first quarter worth about $484,000. Quotient Investors LLC purchased a new stake in Brinker International during the first quarter worth about $698,000. Finally, Anderson Hoagland & Co. purchased a new stake in Brinker International during the first quarter worth about $1,389,000.
Shares of Brinker International, Inc. (NYSE EAT) opened at 35.05 on Thursday. Brinker International, Inc. has a 12-month low of $33.41 and a 12-month high of $55.84. The stock’s 50 day moving average is $36.18 and its 200 day moving average is $40.81. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 11.92 and a beta of 0.25.
Brinker International (NYSE:EAT) last issued its quarterly earnings results on Thursday, August 10th. The restaurant operator reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.05. Brinker International had a net margin of 4.79% and a negative return on equity of 31.46%. The company had revenue of $810.66 million during the quarter, compared to the consensus estimate of $809.94 million. During the same quarter in the prior year, the firm posted $1.24 EPS. The firm’s quarterly revenue was down 8.1% on a year-over-year basis. Equities analysts expect that Brinker International, Inc. will post $3.24 earnings per share for the current year.
Brinker International announced that its Board of Directors has authorized a share buyback program on Thursday, August 10th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the restaurant operator to reacquire up to 14.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date is Thursday, September 7th. This is an increase from Brinker International’s previous quarterly dividend of $0.34. Brinker International’s dividend payout ratio is 45.48%.
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EAT has been the subject of a number of recent analyst reports. Royal Bank Of Canada restated a “hold” rating and set a $49.00 price target on shares of Brinker International in a report on Thursday, April 20th. Oppenheimer Holdings, Inc. restated an “outperform” rating on shares of Brinker International in a report on Friday, April 21st. CIBC restated an “outperform” rating on shares of Brinker International in a report on Friday, April 21st. Maxim Group restated a “buy” rating and set a $54.00 price target on shares of Brinker International in a report on Tuesday, April 25th. Finally, BMO Capital Markets restated a “sell” rating on shares of Brinker International in a report on Wednesday, April 26th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. Brinker International presently has an average rating of “Hold” and an average target price of $45.67.
About Brinker International
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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