Brinker International, Inc. (EAT) Holdings Increased by Stevens Capital Management LP
Stevens Capital Management LP grew its holdings in shares of Brinker International, Inc. (NYSE:EAT) by 48.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,596 shares of the restaurant operator’s stock after buying an additional 22,652 shares during the period. Stevens Capital Management LP owned 0.14% of Brinker International worth $2,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its position in shares of Brinker International by 10,393.8% during the first quarter. BlackRock Inc. now owns 3,975,272 shares of the restaurant operator’s stock worth $174,753,000 after purchasing an additional 3,937,390 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of Brinker International during the second quarter worth about $42,664,000. Balyasny Asset Management LLC increased its position in shares of Brinker International by 3,244.4% during the second quarter. Balyasny Asset Management LLC now owns 899,246 shares of the restaurant operator’s stock worth $34,261,000 after purchasing an additional 872,358 shares in the last quarter. Koch Industries Inc. acquired a new stake in shares of Brinker International during the second quarter worth about $533,000. Finally, Vanguard Group Inc. increased its position in shares of Brinker International by 5.9% during the second quarter. Vanguard Group Inc. now owns 5,874,194 shares of the restaurant operator’s stock worth $223,806,000 after purchasing an additional 329,577 shares in the last quarter.
Brinker International, Inc. (NYSE EAT) opened at $33.74 on Friday. The company has a debt-to-equity ratio of -2.51, a quick ratio of 0.29 and a current ratio of 0.34. Brinker International, Inc. has a 52-week low of $29.50 and a 52-week high of $55.84. The stock has a market capitalization of $1,561.82, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 1.06 and a beta of 0.16.
Brinker International (NYSE:EAT) last released its earnings results on Wednesday, November 1st. The restaurant operator reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.01). Brinker International had a negative return on equity of 30.36% and a net margin of 4.39%. The business had revenue of $739.40 million for the quarter, compared to analyst estimates of $749.05 million. During the same quarter in the previous year, the firm posted $0.49 EPS. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. sell-side analysts forecast that Brinker International, Inc. will post 3.22 earnings per share for the current fiscal year.
Brinker International announced that its Board of Directors has approved a stock buyback program on Thursday, August 10th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the restaurant operator to buy up to 14.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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In other news, Director Michael A. George purchased 16,450 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were acquired at an average price of $30.31 per share, with a total value of $498,599.50. Following the purchase, the director now directly owns 49,952 shares of the company’s stock, valued at $1,514,045.12. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.91% of the stock is owned by insiders.
Several equities analysts recently issued reports on EAT shares. Barclays PLC dropped their price target on Brinker International from $47.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 19th. Raymond James Financial, Inc. restated a “market perform” rating on shares of Brinker International in a research report on Monday, July 24th. Maxim Group restated a “buy” rating and issued a $49.00 price target (down previously from $54.00) on shares of Brinker International in a research report on Wednesday, August 9th. Zacks Investment Research upgraded Brinker International from a “sell” rating to a “hold” rating in a research report on Monday, September 4th. Finally, Stifel Nicolaus started coverage on Brinker International in a research report on Monday, October 2nd. They issued a “hold” rating and a $36.00 price target on the stock. Two investment 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’s stock. The company presently has an average rating of “Hold” and an average target price of $40.50.
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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