ProShare Advisors LLC bought a new position in Brinker International, Inc. (NYSE:EAT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,028 shares of the restaurant operator’s stock, valued at approximately $306,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Kernodle & Katon Asset Management Group LLC boosted 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 period. Profund Advisors LLC boosted its position in shares of Brinker International by 0.8% in the second quarter. Profund Advisors LLC now owns 6,849 shares of the restaurant operator’s stock worth $261,000 after buying an additional 57 shares during the period. Wedge Capital Management L L P NC boosted its position in shares of Brinker International by 1.3% in the second quarter. Wedge Capital Management L L P NC now owns 10,275 shares of the restaurant operator’s stock worth $391,000 after buying an additional 135 shares during the period. State Treasurer State of Michigan boosted 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 period. Finally, Arizona State Retirement System boosted its position in shares of Brinker International by 1.5% in the second quarter. Arizona State Retirement System now owns 20,600 shares of the restaurant operator’s stock worth $785,000 after buying an additional 300 shares during the period.
Brinker International, Inc. (NYSE:EAT) opened at 32.46 on Wednesday. The company has a 50 day moving average price of $31.84 and a 200 day moving average price of $37.71. The firm has a market cap of $1.57 billion, a PE ratio of 11.04 and a beta of 0.26. Brinker International, Inc. has a 1-year low of $29.50 and a 1-year high of $55.84.
Brinker International (NYSE:EAT) last issued its quarterly earnings results on Thursday, August 10th. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.05. The company had revenue of $810.66 million for 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%. The firm’s revenue was down 8.1% compared to the same quarter last year. During the same period last year, the business posted $1.24 earnings per share. On average, equities research analysts forecast that Brinker International, Inc. will post $3.23 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Friday, September 8th were given a $0.38 dividend. This is an increase from Brinker International’s previous quarterly dividend of $0.34. This represents a $1.52 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend was Thursday, September 7th. Brinker International’s dividend payout ratio (DPR) is currently 50.84%.
Brinker International announced that its Board of Directors has initiated a stock buyback plan on Thursday, August 10th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to purchase up to 14.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $40.00 target price (down previously from $49.00) on shares of Brinker International in a research report on Wednesday, August 9th. Maxim Group reaffirmed a “buy” rating and issued a $49.00 target price (down previously from $54.00) on shares of Brinker International in a research report on Wednesday, August 9th. Zacks Investment Research downgraded Brinker International from a “hold” rating to a “sell” rating in a research report on Tuesday. Barclays PLC decreased their target price on Brinker International from $44.00 to $41.00 and set an “equal weight” rating for the company in a research report on Friday, August 11th. Finally, Stifel Nicolaus assumed coverage on Brinker International in a research report on Monday, October 2nd. They issued a “hold” rating and a $36.00 target price for the company. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $43.50.
In other Brinker International news, Director Michael A. George purchased 16,450 shares of the stock in a transaction dated Wednesday, September 6th. The shares were bought at an average cost of $30.31 per share, with a total value of $498,599.50. Following the completion of the transaction, the director now owns 49,952 shares in the company, valued at approximately $1,514,045.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.91% of the company’s stock.
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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