Jennison Associates LLC Buys Shares of 22,369 Brinker International, Inc. (NYSE:EAT)

Jennison Associates LLC bought a new position in shares of Brinker International, Inc. (NYSE:EAT) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 22,369 shares of the restaurant operator’s stock, valued at approximately $713,000.

A number of other large investors have also modified their holdings of the business. Bruderman Asset Management LLC purchased a new stake in shares of Brinker International in the second quarter worth about $123,000. LS Investment Advisors LLC grew its stake in shares of Brinker International by 14.2% during the 2nd quarter. LS Investment Advisors LLC now owns 4,689 shares of the restaurant operator’s stock valued at $179,000 after purchasing an additional 582 shares during the period. ING Groep NV purchased a new stake in shares of Brinker International during the 2nd quarter worth approximately $227,000. Profund Advisors LLC raised its holdings in shares of Brinker International by 0.8% during the 2nd quarter. Profund Advisors LLC now owns 6,849 shares of the restaurant operator’s stock worth $261,000 after acquiring an additional 57 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in shares of Brinker International during the 2nd quarter worth approximately $262,000.

In other Brinker International news, insider Wyman Roberts sold 33,683 shares of Brinker International stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $37.88, for a total value of $1,275,912.04. Following the sale, the insider now owns 137,572 shares in the company, valued at $5,211,227.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Charles A. Lousignont sold 3,364 shares of Brinker International stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $33.00, for a total value of $111,012.00. Following the completion of the sale, the senior vice president now owns 15,074 shares in the company, valued at approximately $497,442. The disclosure for this sale can be found here. Insiders own 1.91% of the company’s stock.

Shares of Brinker International, Inc. (NYSE:EAT) traded down $1.25 during mid-day trading on Wednesday, reaching $37.69. The company had a trading volume of 1,713,866 shares, compared to its average volume of 1,441,359. The company has a debt-to-equity ratio of -2.51, a quick ratio of 0.28 and a current ratio of 0.34. The stock has a market capitalization of $1,793.74, a PE ratio of 12.26, a P/E/G ratio of 1.22 and a beta of 0.24. Brinker International, Inc. has a 52 week low of $29.50 and a 52 week high of $54.43.

Brinker International (NYSE:EAT) last announced its quarterly earnings results on Wednesday, November 1st. The restaurant operator reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). Brinker International had a net margin of 4.39% and a negative return on equity of 30.36%. The company had revenue of $739.40 million for the quarter, compared to analysts’ expectations of $749.05 million. During the same quarter in the prior year, the business posted $0.49 earnings per share. The firm’s revenue was down 2.5% compared to the same quarter last year. research analysts anticipate that Brinker International, Inc. will post 3.22 EPS for the current year.

Brinker International announced that its board has approved a share 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 buy up to 14.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 8th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Thursday, December 7th. Brinker International’s payout ratio is currently 54.87%.

Several research firms recently weighed in on EAT. Royal Bank Of Canada restated a “sector perform” rating and set a $40.00 price target (down previously from $49.00) on shares of Brinker International in a report on Wednesday, August 9th. Maxim Group restated a “buy” rating and set a $49.00 price target (down previously from $54.00) on shares of Brinker International in a report on Wednesday, August 9th. Barclays reduced their target price on Brinker International from $44.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Friday, August 11th. Piper Jaffray Companies reiterated a “hold” rating on shares of Brinker International in a research note on Friday, August 11th. Finally, Stifel Nicolaus assumed coverage on Brinker International in a research note on Monday, October 2nd. They issued a “hold” rating and a $36.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. Brinker International has an average rating of “Hold” and an average price target of $40.50.

ILLEGAL ACTIVITY NOTICE: “Jennison Associates LLC Buys Shares of 22,369 Brinker International, Inc. (NYSE:EAT)” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another domain, it was copied illegally and republished in violation of United States & international copyright & trademark law. The correct version of this piece can be accessed at https://ledgergazette.com/2017/12/07/jennison-associates-llc-invests-713000-in-brinker-international-inc-eat-stock.html.

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.

Institutional Ownership by Quarter for Brinker International (NYSE:EAT)

Receive News & Ratings for Brinker International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brinker International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply