Commonwealth Equity Services Inc Raises Stake in Brinker International, Inc. (EAT)
Commonwealth Equity Services Inc raised its holdings in shares of Brinker International, Inc. (NYSE:EAT) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,965 shares of the restaurant operator’s stock after acquiring an additional 1,698 shares during the quarter. Commonwealth Equity Services Inc owned approximately 0.14% of Brinker International worth $2,133,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Profund Advisors LLC grew its stake in shares of Brinker International by 0.8% during the 2nd quarter. Profund Advisors LLC now owns 6,849 shares of the restaurant operator’s stock worth $261,000 after acquiring an additional 57 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in shares of Brinker International by 1.3% during the 2nd quarter. Wedge Capital Management L L P NC now owns 10,275 shares of the restaurant operator’s stock worth $391,000 after acquiring an additional 135 shares in the last quarter. D.A. Davidson & CO. grew its stake in shares of Brinker International by 2.2% during the 2nd quarter. D.A. Davidson & CO. now owns 7,832 shares of the restaurant operator’s stock worth $298,000 after acquiring an additional 166 shares in the last quarter. State Treasurer State of Michigan grew its stake in shares of Brinker International by 1.5% during the 2nd quarter. State Treasurer State of Michigan now owns 20,177 shares of the restaurant operator’s stock worth $769,000 after acquiring an additional 300 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Brinker International by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 20,600 shares of the restaurant operator’s stock worth $785,000 after acquiring an additional 300 shares in the last quarter.
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Brinker International, Inc. (EAT) opened at $32.88 on Thursday. The company has a current ratio of 0.34, a quick ratio of 0.28 and a debt-to-equity ratio of -2.51. Brinker International, Inc. has a 52-week low of $29.50 and a 52-week high of $55.69. The company has a market cap of $1,512.30, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 1.02 and a beta of 0.16.
Brinker International (NYSE:EAT) last released its quarterly earnings data on Wednesday, November 1st. The restaurant operator reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.01). Brinker International had a negative return on equity of 30.36% and a net margin of 4.39%. The company had revenue of $739.40 million for the quarter, compared to the consensus estimate of $749.05 million. During the same period last year, the firm earned $0.49 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. equities analysts predict that Brinker International, Inc. will post 3.22 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 8th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date is Thursday, December 7th. Brinker International’s dividend payout ratio is currently 54.87%.
Brinker International declared that its board has approved a share buyback plan on Thursday, August 10th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the restaurant operator to buy up to 14.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
EAT has been the subject of several research reports. ValuEngine raised shares of Brinker International from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. Zacks Investment Research cut shares of Brinker International from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Maxim Group reissued a “buy” rating and issued a $49.00 target price on shares of Brinker International in a research note on Tuesday, September 12th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $40.00 target price (down from $49.00) on shares of Brinker International in a research note on Wednesday, August 9th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $40.00 target price on shares of Brinker International in a research note on Sunday, October 1st. Two investment 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. The company currently has a consensus rating of “Hold” and a consensus target price of $40.50.
In other news, SVP Charles A. Lousignont sold 3,364 shares of Brinker International 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 completion of the sale, the senior vice president now owns 15,074 shares of the company’s stock, valued at $497,442. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael A. George bought 16,450 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were purchased at an average cost of $30.31 per share, with a total value of $498,599.50. Following the acquisition, the director now directly owns 49,952 shares of the company’s stock, valued at approximately $1,514,045.12. The disclosure for this purchase can be found here. 1.91% of the stock is currently owned by company 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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