LSV Asset Management trimmed its stake in Brinker International, Inc. (NYSE:EAT) by 0.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,345,422 shares of the restaurant operator’s stock after selling 15,100 shares during the period. LSV Asset Management owned 0.08% of Brinker International worth $159,242,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in EAT. BlackRock Inc. grew its stake in Brinker International by 2.1% during the 1st quarter. BlackRock Inc. now owns 5,103,055 shares of the restaurant operator’s stock worth $184,219,000 after buying an additional 106,420 shares during the last quarter. Cooke & Bieler LP grew its stake in Brinker International by 1.6% during the 1st quarter. Cooke & Bieler LP now owns 1,551,302 shares of the restaurant operator’s stock worth $56,002,000 after buying an additional 24,212 shares during the last quarter. Prudential Financial Inc. grew its stake in Brinker International by 161.9% during the 1st quarter. Prudential Financial Inc. now owns 1,242,645 shares of the restaurant operator’s stock worth $44,859,000 after buying an additional 768,154 shares during the last quarter. Northern Trust Corp grew its stake in Brinker International by 3.5% during the 1st quarter. Northern Trust Corp now owns 808,520 shares of the restaurant operator’s stock worth $29,187,000 after buying an additional 27,192 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in Brinker International during the 1st quarter worth $28,053,000.
Brinker International stock opened at $44.00 on Friday. The company has a current ratio of 0.32, a quick ratio of 0.27 and a debt-to-equity ratio of -2.24. The stock has a market cap of $1.94 billion and a price-to-earnings ratio of 13.75. Brinker International, Inc. has a fifty-two week low of $29.50 and a fifty-two week high of $54.14.
Brinker International (NYSE:EAT) last posted its quarterly earnings results on Tuesday, August 14th. The restaurant operator reported $1.19 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.19. The business had revenue of $817.10 million for the quarter, compared to the consensus estimate of $817.93 million. Brinker International had a negative return on equity of 30.02% and a net margin of 4.24%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.09 EPS. research analysts forecast that Brinker International, Inc. will post 3.52 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Friday, September 7th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $1.52 annualized dividend and a yield of 3.45%. Brinker International’s payout ratio is presently 47.50%.
Several research analysts recently weighed in on EAT shares. Zacks Investment Research downgraded Brinker International from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. Canaccord Genuity restated a “hold” rating and set a $43.00 target price on shares of Brinker International in a research note on Friday, April 20th. Morgan Stanley boosted their target price on Brinker International from $35.00 to $37.00 and gave the stock an “underweight” rating in a research note on Monday, July 16th. Royal Bank of Canada upgraded Brinker International from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $41.37 to $49.00 in a research note on Friday, April 27th. Finally, BMO Capital Markets boosted their target price on Brinker International from $38.00 to $42.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Brinker International presently has a consensus rating of “Hold” and a consensus target price of $45.33.
In other Brinker International news, SVP David Roy Doyle sold 3,615 shares of the business’s stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $49.86, for a total transaction of $180,243.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Valade sold 4,224 shares of the business’s stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $49.59, for a total value of $209,468.16. The disclosure for this sale can be found here. 1.91% of the stock is currently owned by insiders.
Brinker International Profile
Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants worldwide. As of June 28, 2017, it owned, operated, or franchised 1,674 restaurants comprising 1,622 restaurants under the Chili's Grill & Bar brand name; and 52 restaurants under the Maggiano's Little Italy brand name.
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