Jennison Associates LLC bought a new stake in Brinker International, Inc. (NYSE:EAT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,369 shares of the restaurant operator’s stock, valued at approximately $713,000.
A number of other large investors also recently added to or reduced their stakes in the business. Bessemer Group Inc. lifted its stake in Brinker International by 97.9% in the third quarter. Bessemer Group Inc. now owns 1,303,134 shares of the restaurant operator’s stock valued at $41,518,000 after buying an additional 644,700 shares during the period. Keybank National Association OH acquired a new stake in shares of Brinker International during the third quarter worth about $478,000. Prudential Financial Inc. raised its position in shares of Brinker International by 626.6% during the third quarter. Prudential Financial Inc. now owns 498,154 shares of the restaurant operator’s stock worth $15,872,000 after purchasing an additional 429,590 shares during the period. Stevens Capital Management LP raised its position in shares of Brinker International by 48.3% during the third quarter. Stevens Capital Management LP now owns 69,596 shares of the restaurant operator’s stock worth $2,217,000 after purchasing an additional 22,652 shares during the period. Finally, Old Mutual Global Investors UK Ltd. raised its position in shares of Brinker International by 2,568.3% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 15,156 shares of the restaurant operator’s stock worth $482,000 after purchasing an additional 14,588 shares during the period.
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In other Brinker International news, SVP Charles A. Lousignont sold 3,364 shares of Brinker International stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $33.00, for a total value of $111,012.00. Following the completion of the transaction, the senior vice president now directly owns 15,074 shares of the company’s stock, valued at approximately $497,442. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael A. George acquired 16,450 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was bought at an average cost of $30.31 per share, with a total value of $498,599.50. Following the completion of the acquisition, the director now directly owns 49,952 shares in the company, valued at $1,514,045.12. The disclosure for this purchase can be found here. Company insiders own 1.91% of the company’s stock.
Brinker International, Inc. (NYSE EAT) opened at $34.11 on Tuesday. The company has a debt-to-equity ratio of -2.51, a current ratio of 0.34 and a quick ratio of 0.28. The firm has a market capitalization of $1,628.49, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 1.10 and a beta of 0.16. Brinker International, Inc. has a one year low of $29.50 and a one year high of $55.69.
Brinker International (NYSE:EAT) last posted its quarterly earnings results on Wednesday, November 1st. The restaurant operator reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.01). The company had revenue of $739.40 million during the quarter, compared to the consensus estimate of $749.05 million. Brinker International had a net margin of 4.39% and a negative return on equity of 30.36%. During the same quarter in the prior year, the business earned $0.49 earnings per share. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. equities research analysts predict that Brinker International, Inc. will post 3.22 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 8th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.46%. Brinker International’s payout ratio is 54.87%.
Brinker International declared that its Board of Directors has authorized a stock buyback plan on Thursday, August 10th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the restaurant operator to repurchase up to 14.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of research firms have recently commented on EAT. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Brinker International in a research report on Friday, August 11th. BidaskClub lowered Brinker International from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Zacks Investment Research lowered Brinker International from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. BMO Capital Markets reaffirmed a “hold” rating on shares of Brinker International in a research report on Monday, November 6th. Finally, Maxim Group dropped their price target on Brinker International from $54.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. Brinker International presently has an average rating of “Hold” and a consensus target price of $40.50.
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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