O Shares Investment Advisers LLC lessened its stake in Brinker International, Inc. (NYSE:EAT) by 10.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 11,891 shares of the restaurant operator’s stock after selling 1,366 shares during the quarter. O Shares Investment Advisers LLC’s holdings in Brinker International were worth $528,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in EAT. Macquarie Group Ltd. raised its stake in Brinker International by 0.9% during the fourth quarter. Macquarie Group Ltd. now owns 33,600 shares of the restaurant operator’s stock valued at $1,478,000 after purchasing an additional 300 shares in the last quarter. Royce & Associates LP raised its stake in Brinker International by 0.8% during the first quarter. Royce & Associates LP now owns 37,433 shares of the restaurant operator’s stock valued at $1,661,000 after purchasing an additional 313 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in Brinker International by 2.0% during the fourth quarter. Great West Life Assurance Co. Can now owns 24,408 shares of the restaurant operator’s stock valued at $996,000 after purchasing an additional 478 shares in the last quarter. ARP Americas LP raised its stake in Brinker International by 2.6% during the first quarter. ARP Americas LP now owns 19,851 shares of the restaurant operator’s stock valued at $881,000 after purchasing an additional 500 shares in the last quarter. Finally, Stone Ridge Asset Management LLC raised its stake in Brinker International by 3.3% during the fourth quarter. Stone Ridge Asset Management LLC now owns 16,015 shares of the restaurant operator’s stock valued at $704,000 after purchasing an additional 515 shares in the last quarter.
Shares of EAT traded up $0.31 during midday trading on Wednesday, hitting $40.26. The stock had a trading volume of 50,359 shares, compared to its average volume of 1,064,557. Brinker International, Inc. has a 1 year low of $36.82 and a 1 year high of $54.14. The company has a market cap of $1.50 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.19 and a beta of 0.24.
Brinker International (NYSE:EAT) last announced its earnings results on Tuesday, April 30th. The restaurant operator reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.06. The business had revenue of $839.30 million for the quarter, compared to the consensus estimate of $831.16 million. Brinker International had a net margin of 4.75% and a negative return on equity of 19.10%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.08 earnings per share. As a group, sell-side analysts forecast that Brinker International, Inc. will post 3.93 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 7th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Thursday, June 6th. Brinker International’s payout ratio is presently 43.43%.
EAT has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Brinker International from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Maxim Group reaffirmed a “buy” rating on shares of Brinker International in a research note on Wednesday, April 24th. UBS Group initiated coverage on shares of Brinker International in a research note on Friday, April 26th. They set a “sell” rating and a $39.00 price target on the stock. ValuEngine downgraded shares of Brinker International from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Finally, Evercore ISI began coverage on shares of Brinker International in a research note on Tuesday. They issued an “in-line” rating and a $40.00 target price on the stock. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. Brinker International presently has an average rating of “Hold” and a consensus price target of $44.86.
In related news, EVP Kelly C. Baltes purchased 800 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were purchased at an average cost of $42.05 per share, for a total transaction of $33,640.00. Following the completion of the acquisition, the executive vice president now owns 13,134 shares in the company, valued at approximately $552,284.70. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.72% of the company’s stock.
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About Brinker International
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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