Panagora Asset Management Inc. raised its position in Brinker International, Inc. (NYSE:EAT) by 20.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,661 shares of the restaurant operator’s stock after purchasing an additional 19,007 shares during the quarter. Panagora Asset Management Inc. owned 0.29% of Brinker International worth $5,171,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Stratos Wealth Partners LTD. purchased a new stake in shares of Brinker International during the third quarter worth $138,000. Sei Investments Co. increased its position in shares of Brinker International by 913.2% during the second quarter. Sei Investments Co. now owns 3,597 shares of the restaurant operator’s stock worth $171,000 after acquiring an additional 3,242 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Brinker International during the second quarter worth $199,000. Ausdal Financial Partners Inc. purchased a new stake in shares of Brinker International during the second quarter worth $211,000. Finally, Sun Life Financial INC purchased a new stake in shares of Brinker International during the second quarter worth $218,000.
In other news, VP Michaela M. Ware sold 2,078 shares of the stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $48.61, for a total transaction of $101,011.58. Following the completion of the sale, the vice president now owns 11,633 shares in the company, valued at $565,480.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Wade Allen sold 1,998 shares of the stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $45.13, for a total transaction of $90,169.74. Following the sale, the senior vice president now owns 8,479 shares of the company’s stock, valued at approximately $382,657.27. The disclosure for this sale can be found here. Insiders sold 55,539 shares of company stock valued at $2,692,195 in the last 90 days. 2.72% of the stock is currently owned by insiders.
A number of analysts have recently weighed in on EAT shares. Telsey Advisory Group cut their price objective on Brinker International from $52.00 to $49.00 and set a “market perform” rating on the stock in a research report on Friday, August 10th. Wells Fargo & Co upped their price objective on Brinker International from $42.00 to $43.00 and gave the stock a “market perform” rating in a research report on Monday, August 13th. Piper Jaffray Companies upped their price objective on Brinker International to $48.00 and gave the stock a “positive” rating in a research report on Wednesday, August 15th. BMO Capital Markets set a $43.00 price objective on Brinker International and gave the stock a “hold” rating in a research report on Tuesday, August 14th. Finally, Morgan Stanley upped their price objective on Brinker International from $37.00 to $38.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 15th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $46.06.
NYSE EAT opened at $50.28 on Friday. Brinker International, Inc. has a 1 year low of $32.03 and a 1 year high of $54.14. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 1.50 and a beta of 0.02.
Brinker International (NYSE:EAT) last released its quarterly earnings data on Tuesday, October 30th. The restaurant operator reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.02. Brinker International had a net margin of 4.52% and a negative return on equity of 23.89%. The company had revenue of $753.80 million during the quarter, compared to the consensus estimate of $756.40 million. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Brinker International’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts forecast that Brinker International, Inc. will post 3.76 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Friday, December 7th will be paid a $0.38 dividend. The ex-dividend date is Thursday, December 6th. This represents a $1.52 annualized dividend and a yield of 3.02%. Brinker International’s dividend payout ratio is presently 43.43%.
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Brinker International Company Profile
Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants in the United States and internationally. As of June 27, 2018, it owned, operated, or franchised 1,686 restaurants comprising 997 company-owned restaurants and 689 franchised restaurants under the Chili's Grill & Bar and Maggiano's Little Italy brand names.
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