California Public Employees Retirement System grew its position in shares of Brinker International, Inc. (NYSE:EAT) by 9.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 185,780 shares of the restaurant operator’s stock after acquiring an additional 15,726 shares during the quarter. California Public Employees Retirement System owned about 0.40% of Brinker International worth $5,919,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. grew its position in shares of Brinker International by 40.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 308,229 shares of the restaurant operator’s stock worth $11,744,000 after buying an additional 89,023 shares in the last quarter. Legal & General Group Plc grew its position in shares of Brinker International by 35.5% during the 2nd quarter. Legal & General Group Plc now owns 60,081 shares of the restaurant operator’s stock worth $2,292,000 after buying an additional 15,753 shares in the last quarter. Comerica Bank grew its position in shares of Brinker International by 2.5% during the 2nd quarter. Comerica Bank now owns 42,267 shares of the restaurant operator’s stock worth $1,510,000 after buying an additional 1,048 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Brinker International by 8.1% during the 2nd quarter. Victory Capital Management Inc. now owns 14,697 shares of the restaurant operator’s stock worth $560,000 after buying an additional 1,099 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in Brinker International by 127.0% during the second quarter. Prudential Financial Inc. now owns 68,564 shares of the restaurant operator’s stock valued at $2,612,000 after purchasing an additional 38,354 shares in the last quarter.
Shares of Brinker International, Inc. (EAT) opened at $37.98 on Friday. Brinker International, Inc. has a 12 month low of $29.50 and a 12 month high of $48.02. 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 stock has a market capitalization of $1,739.58, a P/E ratio of 13.71, a PEG ratio of 0.84 and a beta of 0.24.
Brinker International (NYSE:EAT) last posted its quarterly earnings data on Wednesday, November 1st. The restaurant operator reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). Brinker International had a negative return on equity of 30.36% and a net margin of 4.39%. The business had revenue of $739.40 million for the quarter, compared to analyst estimates of $749.05 million. During the same quarter last year, the business earned $0.49 EPS. Brinker International’s revenue for the quarter was down 2.5% compared to the same quarter last year. research analysts predict that Brinker International, Inc. will post 3.32 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Friday, December 8th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.00%. The ex-dividend date was Thursday, December 7th. Brinker International’s dividend payout ratio (DPR) is 54.87%.
In related 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 transaction, the senior vice president now owns 15,074 shares in the company, valued at $497,442. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Wyman Roberts sold 33,683 shares of Brinker International stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $37.88, for a total value of $1,275,912.04. Following the completion of the transaction, the insider now owns 137,572 shares in the company, valued at approximately $5,211,227.36. The disclosure for this sale can be found here. 1.91% of the stock is owned by company insiders.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research raised Brinker International from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Friday. Stephens reduced their price objective on Brinker International from $40.00 to $34.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 11th. Stifel Nicolaus began coverage on Brinker International in a research note on Monday, October 2nd. They issued a “hold” rating and a $36.00 price objective for the company. Canaccord Genuity restated a “hold” rating on shares of Brinker International in a research note on Wednesday, November 1st. Finally, Barclays reduced their price target on Brinker International from $41.00 to $38.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $41.08.
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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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