Eaton Vance Management maintained its position in shares of Brinker International, Inc. (NYSE:EAT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,722 shares of the restaurant operator’s stock at the close of the second quarter. Eaton Vance Management owned approximately 0.07% of Brinker International worth $1,361,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Brinker International by 15.4% in the first quarter. Vanguard Group Inc. now owns 5,544,617 shares of the restaurant operator’s stock worth $243,741,000 after buying an additional 738,302 shares during the period. BlackRock Inc. increased its holdings in shares of Brinker International by 10,393.8% in the first quarter. BlackRock Inc. now owns 3,975,272 shares of the restaurant operator’s stock worth $174,753,000 after buying an additional 3,937,390 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Brinker International by 33.8% in the first quarter. Alliancebernstein L.P. now owns 2,236,357 shares of the restaurant operator’s stock worth $98,310,000 after buying an additional 565,294 shares during the period. Cooke & Bieler LP increased its holdings in shares of Brinker International by 4.4% in the second quarter. Cooke & Bieler LP now owns 1,522,933 shares of the restaurant operator’s stock worth $58,024,000 after buying an additional 64,780 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Brinker International by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,188,323 shares of the restaurant operator’s stock worth $52,239,000 after buying an additional 14,401 shares during the period.

Shares of Brinker International, Inc. (NYSE EAT) opened at 32.36 on Friday. The company has a market capitalization of $1.57 billion, a PE ratio of 11.01 and a beta of 0.26. Brinker International, Inc. has a 12 month low of $29.50 and a 12 month high of $55.84. The stock has a 50 day moving average price of $33.02 and a 200-day moving average price of $38.81.

Brinker International (NYSE:EAT) last released its quarterly earnings data on Thursday, August 10th. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.05. Brinker International had a net margin of 4.79% and a negative return on equity of 31.46%. The firm had revenue of $810.66 million for the quarter, compared to the consensus estimate of $809.94 million. During the same period last year, the firm earned $1.24 earnings per share. The company’s quarterly revenue was down 8.1% on a year-over-year basis. Analysts forecast that Brinker International, Inc. will post $3.24 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 8th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.70%. This is an increase from Brinker International’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, September 7th. Brinker International’s dividend payout ratio (DPR) is 50.84%.

Brinker International declared that its board has initiated a share buyback program 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 programs are usually an indication that the company’s management believes its stock is undervalued.

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EAT has been the topic of several analyst reports. J P Morgan Chase & Co downgraded Brinker International from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $48.00 to $44.00 in a report on Thursday, June 15th. ValuEngine cut Brinker International from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BMO Capital Markets raised Brinker International from an “underperform” rating to a “market perform” rating and set a $40.00 target price on the stock in a research note on Thursday, June 22nd. Maxim Group reissued a “buy” rating and issued a $54.00 target price on shares of Brinker International in a research note on Thursday, June 15th. Finally, Zacks Investment Research raised Brinker International from a “sell” rating to a “hold” rating in a research note on Monday, September 4th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $45.42.

In other news, Director Michael A. George bought 16,450 shares of the stock in a transaction on Wednesday, September 6th. The stock was bought at an average cost of $30.31 per share, for a total transaction of $498,599.50. Following the completion of the purchase, the director now directly owns 49,952 shares in the company, valued at $1,514,045.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.76% of the stock is 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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Institutional Ownership by Quarter for Brinker International (NYSE:EAT)

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