TD Asset Management Inc. Acquires 26,102 Shares of Brinker International, Inc. (EAT)
TD Asset Management Inc. raised its position in Brinker International, Inc. (NYSE:EAT) by 53.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,056 shares of the restaurant operator’s stock after buying an additional 26,102 shares during the period. TD Asset Management Inc. owned 0.15% of Brinker International worth $3,300,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Brinker International during the fourth quarter worth approximately $40,083,000. Russell Investments Group Ltd. acquired a new position in shares of Brinker International during the fourth quarter worth approximately $10,618,000. FMR LLC boosted its position in shares of Brinker International by 825.8% in the fourth quarter. FMR LLC now owns 231,460 shares of the restaurant operator’s stock worth $11,464,000 after buying an additional 206,460 shares during the last quarter. Alyeska Investment Group L.P. boosted its position in shares of Brinker International by 55.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 564,357 shares of the restaurant operator’s stock worth $27,953,000 after buying an additional 201,076 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Brinker International by 64.8% in the first quarter. Canada Pension Plan Investment Board now owns 498,600 shares of the restaurant operator’s stock worth $21,918,000 after buying an additional 196,000 shares during the last quarter.
Brinker International (NYSE:EAT) last announced its earnings results on Tuesday, April 25th. The restaurant operator reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.09. The company had revenue of $810.60 million during the quarter, compared to analyst estimates of $817.50 million. Brinker International had a net margin of 5.49% and a negative return on equity of 49.35%. Brinker International’s revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.00 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 29th. Shareholders of record on Monday, June 12th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Thursday, June 8th. Brinker International’s dividend payout ratio (DPR) is presently 42.24%.
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A number of equities analysts recently commented on the stock. Maxim Group reaffirmed a “buy” rating and set a $54.00 price target on shares of Brinker International in a research note on Tuesday, April 25th. CIBC reaffirmed an “outperform” rating on shares of Brinker International in a research note on Friday, April 21st. Zacks Investment Research raised shares of Brinker International from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. Stephens reaffirmed an “equal weight” rating and set a $52.00 price target on shares of Brinker International in a research note on Wednesday, April 26th. Finally, BMO Capital Markets reaffirmed a “sell” rating on shares of Brinker International in a research note on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $50.00.
In other Brinker International news, EVP Steve Provost sold 2,750 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $44.06, for a total transaction of $121,165.00. Following the completion of the transaction, the executive vice president now owns 29,780 shares of the company’s stock, valued at $1,312,106.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Harriet Edelman sold 3,218 shares of the stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $42.45, for a total transaction of $136,604.10. Following the transaction, the director now directly owns 22,059 shares of the company’s stock, valued at approximately $936,404.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,650 shares of company stock valued at $598,152. 1.76% of the stock is currently owned by insiders.
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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