Vanguard Group Inc. Increases Stake in Brinker International, Inc. (EAT)
Vanguard Group Inc. grew its holdings in Brinker International, Inc. (NYSE:EAT) by 5.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,874,194 shares of the restaurant operator’s stock after buying an additional 329,577 shares during the period. Vanguard Group Inc. owned 12.01% of Brinker International worth $223,806,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Brinker International by 27.8% in the second quarter. BlackRock Inc. now owns 5,080,271 shares of the restaurant operator’s stock valued at $193,557,000 after buying an additional 1,104,999 shares during the last quarter. Cooke & Bieler LP raised 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 valued at $58,024,000 after buying an additional 64,780 shares during the last quarter. Dimensional Fund Advisors LP raised 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 valued at $52,239,000 after buying an additional 14,401 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Brinker International in the second quarter valued at about $42,664,000. Finally, TIAA CREF Investment Management LLC raised its holdings in shares of Brinker International by 3.9% in the second quarter. TIAA CREF Investment Management LLC now owns 916,345 shares of the restaurant operator’s stock valued at $34,913,000 after buying an additional 34,597 shares during the last quarter.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Brinker International from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Friday. Stephens reduced their target price on shares of Brinker International from $40.00 to $34.00 and set an “equal weight” rating for the company in a report on Wednesday. Stifel Nicolaus assumed coverage on shares of Brinker International in a report on Monday, October 2nd. They issued a “hold” rating and a $36.00 target price for the company. Canaccord Genuity reaffirmed a “hold” rating and issued a $40.00 target price on shares of Brinker International in a report on Sunday, October 1st. Finally, Telsey Advisory Group reduced their target price on shares of Brinker International from $40.00 to $37.00 and set a “market perform” rating for the company in a report on Tuesday, September 19th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $41.46.
Brinker International, Inc. (NYSE:EAT) opened at 31.36 on Friday. The company’s 50-day moving average is $31.74 and its 200 day moving average is $37.50. The stock has a market capitalization of $1.52 billion, a PE ratio of 10.67 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.
Brinker International (NYSE:EAT) last posted its earnings results on Thursday, August 10th. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.05. The firm had revenue of $810.66 million during the quarter, compared to analyst estimates of $809.94 million. Brinker International had a net margin of 4.79% and a negative return on equity of 31.46%. Brinker International’s revenue was down 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.24 EPS. On average, analysts predict that Brinker International, Inc. will post $3.23 EPS for the current year.
Brinker International announced that its board has approved a share repurchase program on Thursday, August 10th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to repurchase up to 14.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Friday, September 8th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.85%. This is an increase from Brinker International’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, September 7th. Brinker International’s payout ratio is 50.84%.
In related news, Director Michael A. George purchased 16,450 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were bought at an average cost of $30.31 per share, for a total transaction of $498,599.50. Following the transaction, the director now owns 49,952 shares of the company’s stock, valued at $1,514,045.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.91% of the stock is currently owned by 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.
Want to see what other hedge funds are holding EAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brinker International, Inc. (NYSE:EAT).
Receive News & Ratings for Brinker International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brinker International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.