Brinker International, Inc. (EAT) Director Buys $498,599.50 in Stock
Brinker International, Inc. (NYSE:EAT) Director Michael A. George acquired 16,450 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were acquired at an average cost of $30.31 per share, with a total value of $498,599.50. Following the transaction, the director now directly owns 49,952 shares in the company, valued at approximately $1,514,045.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Brinker International, Inc. (EAT) opened at 30.55 on Friday. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 10.39 and a beta of 0.26. The stock has a 50 day moving average price of $33.78 and a 200 day moving average price of $39.37. Brinker International, Inc. has a 1-year low of $29.50 and a 1-year high of $55.84.
Brinker International (NYSE:EAT) last released its quarterly earnings results on Thursday, August 10th. The restaurant operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.05. Brinker International had a net margin of 4.79% and a negative return on equity of 31.46%. The company had revenue of $810.66 million during the quarter, compared to the consensus estimate of $809.94 million. During the same period in the previous year, the business earned $1.24 earnings per share. The firm’s quarterly revenue was down 8.1% on a year-over-year basis. Analysts forecast that Brinker International, Inc. will post $3.25 earnings per share for the current year.
Brinker International announced that its board has authorized a share repurchase plan on Thursday, August 10th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the restaurant operator to purchase up to 14.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Friday, September 8th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.98%. This is an increase from Brinker International’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, September 7th. Brinker International’s payout ratio is presently 50.84%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kernodle & Katon Asset Management Group LLC raised its position in shares of Brinker International by 0.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 4,864 shares of the restaurant operator’s stock valued at $214,000 after buying an additional 17 shares in the last quarter. Eqis Capital Management Inc. raised its position in shares of Brinker International by 0.3% in the first quarter. Eqis Capital Management Inc. now owns 6,393 shares of the restaurant operator’s stock valued at $281,000 after buying an additional 18 shares in the last quarter. Profund Advisors LLC raised its position in shares of Brinker International by 0.8% in the second quarter. Profund Advisors LLC now owns 6,849 shares of the restaurant operator’s stock valued at $261,000 after buying an additional 57 shares in the last quarter. Wedge Capital Management L L P NC raised its position in shares of Brinker International by 1.3% in the second quarter. Wedge Capital Management L L P NC now owns 10,275 shares of the restaurant operator’s stock valued at $391,000 after buying an additional 135 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in shares of Brinker International by 2.2% in the second quarter. D.A. Davidson & CO. now owns 7,832 shares of the restaurant operator’s stock valued at $298,000 after buying an additional 166 shares in the last quarter.
Several equities analysts recently weighed in on the company. Zacks Investment Research raised Brinker International from a “sell” rating to a “hold” rating in a research report on Monday, September 4th. ValuEngine cut Brinker International from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BMO Capital Markets set a $36.00 price objective on Brinker International and gave the stock a “hold” rating in a research report on Saturday, August 12th. Piper Jaffray Companies reissued a “hold” rating on shares of Brinker International in a research report on Friday, August 11th. Finally, Barclays PLC cut their price objective on Brinker International from $44.00 to $41.00 and set an “equal weight” rating for the company in a research report on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $45.67.
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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