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.
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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