Parametric Portfolio Associates LLC increased its holdings in Brinker International, Inc. (NYSE:EAT) by 6.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,871 shares of the restaurant operator’s stock after buying an additional 13,499 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.43% of Brinker International worth $7,996,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of EAT. UBS Asset Management Americas Inc. grew its holdings in Brinker International by 14.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 41,808 shares of the restaurant operator’s stock worth $1,838,000 after buying an additional 5,350 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Brinker International by 69.3% in the 1st quarter. Victory Capital Management Inc. now owns 13,598 shares of the restaurant operator’s stock worth $598,000 after buying an additional 5,566 shares in the last quarter. Arizona State Retirement System grew its holdings in Brinker International by 6.0% in the 1st quarter. Arizona State Retirement System now owns 20,300 shares of the restaurant operator’s stock worth $892,000 after buying an additional 1,145 shares in the last quarter. FMR LLC grew its holdings in Brinker International by 114.0% in the 1st quarter. FMR LLC now owns 495,250 shares of the restaurant operator’s stock worth $21,771,000 after buying an additional 263,790 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Brinker International by 16.3% in the 1st quarter. Legal & General Group Plc now owns 44,328 shares of the restaurant operator’s stock worth $1,949,000 after buying an additional 6,210 shares in the last quarter.
Shares of Brinker International, Inc. (NYSE:EAT) opened at 31.03 on Tuesday. Brinker International, Inc. has a 12 month low of $29.50 and a 12 month high of $55.84. The firm has a market cap of $1.50 billion, a P/E ratio of 10.55 and a beta of 0.26. The stock’s 50 day moving average price is $31.74 and its 200-day moving average price is $37.46.
Brinker International (NYSE:EAT) last released its earnings results on Thursday, August 10th. The restaurant operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $810.66 million during the quarter, compared to analyst estimates of $809.94 million. During the same quarter in the previous year, the business earned $1.24 EPS. The business’s quarterly revenue was down 8.1% compared to the same quarter last year. Equities research analysts anticipate that Brinker International, Inc. will post $3.23 earnings per share for the current fiscal year.
Brinker International announced that its board has approved a share repurchase program on Thursday, August 10th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the restaurant operator to reacquire up to 14.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Friday, September 8th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date of this dividend was Thursday, September 7th. This is a positive change from Brinker International’s previous quarterly dividend of $0.34. Brinker International’s payout ratio is currently 50.84%.
In other Brinker International news, Director Michael A. George bought 16,450 shares of the stock in a transaction on Wednesday, September 6th. The stock was purchased at an average price of $30.31 per share, with a total value of $498,599.50. Following the acquisition, the director now owns 49,952 shares of the company’s stock, valued at $1,514,045.12. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.91% of the stock is currently owned by insiders.
A number of equities analysts recently issued reports on EAT shares. Maxim Group reissued a “buy” rating and issued a $49.00 price objective (down from $54.00) on shares of Brinker International in a report on Wednesday, August 9th. ValuEngine raised Brinker International from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Zacks Investment Research raised Brinker International from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Friday. Barclays PLC reissued an “equal weight” rating and issued a $47.00 price objective on shares of Brinker International in a report on Tuesday, July 4th. Finally, Stephens decreased their price objective on Brinker International from $40.00 to $34.00 and set an “equal weight” rating for the company in a report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Brinker International has an average rating of “Hold” and an average target price of $41.46.
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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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