Century Capital Management LLC Has $1.88 Million Position in Brinker International, Inc. (EAT)
Century Capital Management LLC reduced its stake in Brinker International, Inc. (NYSE:EAT) by 4.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,360 shares of the restaurant operator’s stock after selling 2,358 shares during the quarter. Century Capital Management LLC owned approximately 0.10% of Brinker International worth $1,881,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LS Investment Advisors LLC increased its position in shares of Brinker International by 14.2% during the 2nd quarter. LS Investment Advisors LLC now owns 4,689 shares of the restaurant operator’s stock valued at $179,000 after purchasing an additional 582 shares during the last quarter. Kernodle & Katon Asset Management Group LLC increased its position in shares of Brinker International by 0.4% during the 1st quarter. Kernodle & Katon Asset Management Group LLC now owns 4,864 shares of the restaurant operator’s stock valued at $214,000 after purchasing an additional 17 shares during the last quarter. ING Groep NV purchased a new stake in shares of Brinker International during the 2nd quarter valued at $227,000. Eqis Capital Management Inc. increased its position in shares of Brinker International by 0.3% during the 1st quarter. Eqis Capital Management Inc. now owns 6,393 shares of the restaurant operator’s stock valued at $281,000 after purchasing an additional 18 shares during the last quarter. Finally, Segantii Capital Management Ltd purchased a new stake in shares of Brinker International during the 1st quarter valued at $286,000.
In other news, Director Michael A. George acquired 16,450 shares of Brinker International stock in a transaction that occurred on Wednesday, September 6th. The stock was bought at an average price of $30.31 per share, for a total transaction of $498,599.50. Following the completion of the transaction, the director now owns 49,952 shares in the company, valued at $1,514,045.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.76% of the stock is currently owned by corporate insiders.
EAT has been the subject of several research analyst reports. ValuEngine raised Brinker International from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. Telsey Advisory Group decreased their target price on Brinker International from $49.00 to $40.00 and set a “market perform” rating for the company in a research report on Monday, July 17th. Zacks Investment Research lowered Brinker International from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Royal Bank Of Canada reaffirmed 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, BidaskClub lowered Brinker International from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. Brinker International has a consensus rating of “Hold” and an average target price of $45.67.
Brinker International, Inc. (NYSE EAT) opened at 30.71 on Monday. The company has a market cap of $1.49 billion, a P/E ratio of 10.45 and a beta of 0.26. The stock’s 50 day moving average price is $33.78 and its 200 day moving average price is $39.37. Brinker International, Inc. has a 1-year low of $29.50 and a 1-year high of $55.84.
Brinker International (NYSE:EAT) last posted its quarterly earnings data on Thursday, August 10th. The restaurant operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.05. The company had revenue of $810.66 million during the quarter, compared to analysts’ expectations of $809.94 million. Brinker International had a negative return on equity of 31.46% and a net margin of 4.79%. Brinker International’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.24 earnings per share. On average, equities analysts anticipate that Brinker International, Inc. will post $3.25 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 8th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Thursday, September 7th. This is a boost from Brinker International’s previous quarterly dividend of $0.34. Brinker International’s dividend payout ratio is 50.84%.
Brinker International announced that its board has approved a share repurchase plan on Thursday, August 10th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the restaurant operator to reacquire up to 14.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.
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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