Prudential Financial Inc. Grows Holdings in Brinker International, Inc. (EAT)
Prudential Financial Inc. grew its holdings in shares of Brinker International, Inc. (NYSE:EAT) by 626.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 498,154 shares of the restaurant operator’s stock after buying an additional 429,590 shares during the quarter. Prudential Financial Inc. owned 1.03% of Brinker International worth $15,872,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Stevens Capital Management LP grew its stake in Brinker International by 48.3% during the third quarter. Stevens Capital Management LP now owns 69,596 shares of the restaurant operator’s stock worth $2,217,000 after buying an additional 22,652 shares during the period. Old Mutual Global Investors UK Ltd. grew its stake in Brinker International by 2,568.3% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 15,156 shares of the restaurant operator’s stock worth $482,000 after buying an additional 14,588 shares during the period. Wedge Capital Management L L P NC grew its stake in Brinker International by 30.3% during the third quarter. Wedge Capital Management L L P NC now owns 13,391 shares of the restaurant operator’s stock worth $427,000 after buying an additional 3,116 shares during the period. Dupont Capital Management Corp acquired a new position in shares of Brinker International during the third quarter worth $1,221,000. Finally, New York State Teachers Retirement System lifted its position in shares of Brinker International by 2.0% during the third quarter. New York State Teachers Retirement System now owns 115,233 shares of the restaurant operator’s stock worth $3,671,000 after purchasing an additional 2,300 shares in the last quarter.
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A number of research analysts have recently commented on EAT shares. ValuEngine raised shares of Brinker International from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. Zacks Investment Research cut shares of Brinker International from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Maxim Group reissued a “buy” rating and set a $49.00 target price on shares of Brinker International in a research report on Tuesday, September 12th. Royal Bank Of Canada reissued a “sector perform” rating and set a $40.00 target price (down from $49.00) on shares of Brinker International in a research report on Wednesday, August 9th. Finally, Canaccord Genuity reissued a “hold” rating and set a $40.00 target price on shares of Brinker International in a research report on Sunday, October 1st. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. Brinker International currently has an average rating of “Hold” and a consensus target price of $40.50.
Shares of Brinker International, Inc. (EAT) opened at $35.18 on Monday. The stock has a market cap of $1,628.49, a price-to-earnings ratio of 11.13, a P/E/G ratio of 1.10 and a beta of 0.16. The company has a quick ratio of 0.28, a current ratio of 0.34 and a debt-to-equity ratio of -2.51. Brinker International, Inc. has a twelve month low of $29.50 and a twelve month high of $55.69.
Brinker International (NYSE:EAT) last posted its quarterly earnings results on Wednesday, November 1st. The restaurant operator reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). The company had revenue of $739.40 million during the quarter, compared to analyst estimates of $749.05 million. Brinker International had a net margin of 4.39% and a negative return on equity of 30.36%. The company’s revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.49 earnings per share. equities analysts predict that Brinker International, Inc. will post 3.22 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 8th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, December 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.32%. Brinker International’s dividend payout ratio (DPR) is 54.87%.
Brinker International announced that its Board of Directors has authorized a share buyback program on Thursday, August 10th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the restaurant operator to repurchase up to 14.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.
In other Brinker International news, Director Michael A. George bought 16,450 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were bought at an average cost of $30.31 per share, with a total value of $498,599.50. Following the completion of the acquisition, the director now owns 49,952 shares of the company’s stock, valued at $1,514,045.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Charles A. Lousignont sold 3,364 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $33.00, for a total transaction of $111,012.00. Following the sale, the senior vice president now directly owns 15,074 shares in the company, valued at $497,442. The disclosure for this sale can be found here. 1.91% of the stock is currently owned by corporate insiders.
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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