Brinker International Inc. (EAT) Position Raised by Cooke & Bieler LP
Cooke & Bieler LP increased its stake in shares of Brinker International Inc. (NYSE:EAT) by 25.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,350,420 shares of the company’s stock after buying an additional 274,438 shares during the period. Cooke & Bieler LP owned 2.42% of Brinker International worth $61,485,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of EAT. BlackRock Institutional Trust Company N.A. boosted its position in Brinker International by 3.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,770,553 shares of the company’s stock valued at $81,357,000 after buying an additional 56,956 shares during the period. State Street Corp boosted its position in Brinker International by 4.1% in the first quarter. State Street Corp now owns 1,711,631 shares of the company’s stock valued at $78,653,000 after buying an additional 67,579 shares during the period. Wellington Management Group LLP boosted its position in Brinker International by 4.6% in the first quarter. Wellington Management Group LLP now owns 644,106 shares of the company’s stock valued at $29,597,000 after buying an additional 28,077 shares during the period. Cambiar Investors LLC boosted its position in Brinker International by 9.0% in the second quarter. Cambiar Investors LLC now owns 616,758 shares of the company’s stock valued at $28,081,000 after buying an additional 50,776 shares during the period. Finally, Reinhart Partners Inc. boosted its position in Brinker International by 41.0% in the second quarter. Reinhart Partners Inc. now owns 532,946 shares of the company’s stock valued at $24,265,000 after buying an additional 154,918 shares during the period.
Brinker International Inc. (NYSE:EAT) traded up 0.94% on Friday, reaching $50.43. 1,635,222 shares of the company were exchanged. Brinker International Inc. has a 12-month low of $43.20 and a 12-month high of $55.16. The stock has a 50 day moving average of $51.63 and a 200 day moving average of $48.13. The firm has a market capitalization of $2.77 billion, a PE ratio of 14.75 and a beta of 0.26.
Brinker International (NYSE:EAT) last announced its quarterly earnings data on Thursday, August 11th. The company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.01. The firm had revenue of $881.70 million for the quarter, compared to the consensus estimate of $881.43 million. Brinker International had a net margin of 6.16% and a negative return on equity of 114.14%. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 earnings per share. Equities analysts anticipate that Brinker International Inc. will post $3.47 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Friday, September 9th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.70%. This is an increase from Brinker International’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, September 7th. Brinker International’s dividend payout ratio is presently 39.42%.
Several research analysts have recently issued reports on EAT shares. Zacks Investment Research upgraded shares of Brinker International from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Wednesday, October 5th. Piper Jaffray Cos. raised their target price on shares of Brinker International from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, August 12th. RBC Capital Markets restated a “sector perform” rating and set a $55.00 target price (up from $49.00) on shares of Brinker International in a report on Saturday, August 13th. Canaccord Genuity assumed coverage on shares of Brinker International in a report on Monday, August 22nd. They set a “hold” rating and a $56.00 target price for the company. Finally, Barclays PLC raised their target price on shares of Brinker International from $48.00 to $55.00 and gave the stock an “equal weight” rating in a report on Friday, August 12th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $53.93.
In other Brinker International news, VP Joseph G. Taylor sold 672 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $53.44, for a total transaction of $35,911.68. Following the sale, the vice president now directly owns 1,000 shares in the company, valued at $53,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Krista M. Gibson sold 19,000 shares of the stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $53.27, for a total transaction of $1,012,130.00. Following the sale, the insider now owns 37,225 shares in the company, valued at $1,982,975.75. The disclosure for this sale can be found here. Company insiders own 1.76% of the company’s stock.
About Brinker International
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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