Comerica Bank lessened its stake in Brinker International, Inc. (NYSE:EAT) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,557 shares of the restaurant operator’s stock after selling 337 shares during the period. Comerica Bank’s holdings in Brinker International were worth $658,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in shares of Brinker International by 9.7% in the 1st quarter. JPMorgan Chase & Co. now owns 2,585,170 shares of the restaurant operator’s stock valued at $114,731,000 after buying an additional 228,830 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in shares of Brinker International by 2.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 504,946 shares of the restaurant operator’s stock valued at $22,409,000 after purchasing an additional 10,023 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Brinker International by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 466,930 shares of the restaurant operator’s stock valued at $20,535,000 after purchasing an additional 7,495 shares in the last quarter. Vaughan David Investments LLC IL boosted its position in shares of Brinker International by 1.2% during the 1st quarter. Vaughan David Investments LLC IL now owns 425,574 shares of the restaurant operator’s stock valued at $18,887,000 after purchasing an additional 5,150 shares in the last quarter. Finally, Martingale Asset Management L P boosted its position in shares of Brinker International by 17.9% during the 1st quarter. Martingale Asset Management L P now owns 204,748 shares of the restaurant operator’s stock valued at $9,088,000 after purchasing an additional 31,092 shares in the last quarter.
In other Brinker International news, EVP Kelly C. Baltes purchased 850 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average cost of $38.00 per share, with a total value of $32,300.00. Following the completion of the transaction, the executive vice president now owns 13,984 shares of the company’s stock, valued at approximately $531,392. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michaela M. Ware sold 968 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $39.41, for a total value of $38,148.88. Following the sale, the vice president now directly owns 9,973 shares of the company’s stock, valued at $393,035.93. The disclosure for this sale can be found here. Insiders have sold 13,112 shares of company stock valued at $523,720 over the last ninety days. 2.72% of the stock is currently owned by company insiders.
Several brokerages recently commented on EAT. JPMorgan Chase & Co. upgraded Brinker International from a “neutral” rating to an “overweight” rating and cut their target price for the company from $44.00 to $43.00 in a research report on Monday, July 15th. Wells Fargo & Co cut their target price on Brinker International from $41.00 to $40.00 and set a “market perform” rating on the stock in a research report on Monday, August 19th. Deutsche Bank initiated coverage on Brinker International in a research note on Friday, June 28th. They set a “hold” rating and a $40.00 price target on the stock. Telsey Advisory Group raised Brinker International from a “market perform” rating to an “outperform” rating and set a $47.00 price target on the stock in a research note on Wednesday, June 12th. Finally, Stephens downgraded Brinker International from an “overweight” rating to an “equal weight” rating in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $43.94.
Shares of Brinker International stock traded up $1.30 on Friday, hitting $43.50. The company had a trading volume of 103,187 shares, compared to its average volume of 1,303,847. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 11.05, a P/E/G ratio of 1.40 and a beta of 0.23. The stock has a 50 day moving average of $39.30 and a 200-day moving average of $40.98. Brinker International, Inc. has a 1 year low of $36.44 and a 1 year high of $53.61.
Brinker International (NYSE:EAT) last issued its quarterly earnings results on Tuesday, August 13th. The restaurant operator reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.01. The company had revenue of $834.10 million during the quarter, compared to the consensus estimate of $834.69 million. Brinker International had a negative return on equity of 18.81% and a net margin of 4.81%. Brinker International’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $1.19 earnings per share. As a group, analysts anticipate that Brinker International, Inc. will post 4.15 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 6th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend is Thursday, September 5th. Brinker International’s payout ratio is 38.68%.
Brinker International Company Profile
Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants in the United States and internationally. As of June 27, 2018, it owned, operated, or franchised 1,686 restaurants comprising 997 company-owned restaurants and 689 franchised restaurants under the Chili's Grill & Bar and Maggiano's Little Italy brand names.
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