Royce & Associates LP Continues to Hold Position in Brinker International, Inc. (EAT)
Royce & Associates LP continued to hold its stake in shares of Brinker International, Inc. (NYSE:EAT) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 40,627 shares of the restaurant operator’s stock at the close of the second quarter. Royce & Associates LP owned approximately 0.08% of Brinker International worth $1,548,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of EAT. Oregon Public Employees Retirement Fund grew its holdings in shares of Brinker International by 1.0% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 19,564 shares of the restaurant operator’s stock valued at $860,000 after purchasing an additional 200 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in Brinker International by 3.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 30,562 shares of the restaurant operator’s stock worth $1,342,000 after acquiring an additional 949 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Brinker International by 5.8% during the 1st quarter. Advisors Asset Management Inc. now owns 31,750 shares of the restaurant operator’s stock worth $1,396,000 after acquiring an additional 1,730 shares during the last quarter. US Bancorp DE grew its holdings in Brinker International by 21.1% during the 1st quarter. US Bancorp DE now owns 20,765 shares of the restaurant operator’s stock worth $913,000 after acquiring an additional 3,615 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Brinker International by 6.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,160,945 shares of the restaurant operator’s stock worth $51,035,000 after acquiring an additional 73,715 shares during the last quarter.
In other news, Director Michael A. George acquired 16,450 shares of Brinker International stock in a transaction dated Wednesday, September 6th. The stock was purchased at an average cost of $30.31 per share, for a total transaction of $498,599.50. Following the completion of the purchase, the director now directly owns 49,952 shares in the company, valued at approximately $1,514,045.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.76% of the company’s stock.
A number of research firms have weighed in on EAT. Piper Jaffray Companies reissued a “hold” rating on shares of Brinker International in a report on Friday, August 11th. Barclays PLC dropped their target price on shares of Brinker International from $47.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 19th. BidaskClub downgraded shares of Brinker International from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. ValuEngine downgraded shares of Brinker International from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Maxim Group dropped their target price on shares of Brinker International from $54.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. Brinker International presently has a consensus rating of “Hold” and a consensus target price of $45.67.
Brinker International, Inc. (NYSE EAT) opened at 32.20 on Friday. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 10.95 and a beta of 0.26. The firm’s 50-day moving average price is $33.29 and its 200 day moving average price is $39.07. Brinker International, Inc. has a 12 month low of $29.50 and a 12 month high of $55.84.
Brinker International (NYSE:EAT) last issued its quarterly earnings data 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 negative return on equity of 31.46% and a net margin of 4.79%. The company had revenue of $810.66 million for the quarter, compared to the consensus estimate of $809.94 million. During the same quarter last year, the company earned $1.24 earnings per share. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, analysts anticipate that Brinker International, Inc. will post $3.24 earnings per share for the current year.
Brinker International announced that its Board of Directors has approved a stock repurchase plan on Thursday, August 10th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to repurchase up to 14.6% of its shares through open market purchases. Shares 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. Shareholders of record on Friday, September 8th will be paid a $0.38 dividend. The ex-dividend date is Thursday, September 7th. This is a boost from Brinker International’s previous quarterly dividend of $0.34. This represents a $1.52 dividend on an annualized basis and a yield of 4.72%. Brinker International’s dividend payout ratio (DPR) is 50.84%.
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Brinker International 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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