Greenhouse Funds LLLP Invests $7.42 Million in Brinker International, Inc. (EAT)
Greenhouse Funds LLLP purchased a new position in Brinker International, Inc. (NYSE:EAT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 191,000 shares of the restaurant operator’s stock, valued at approximately $7,418,000. Brinker International comprises about 2.1% of Greenhouse Funds LLLP’s portfolio, making the stock its 17th biggest holding.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of Brinker International by 16.4% in the third quarter. JPMorgan Chase & Co. now owns 5,154,891 shares of the restaurant operator’s stock worth $168,822,000 after acquiring an additional 726,427 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Brinker International by 9.2% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,647,296 shares of the restaurant operator’s stock worth $84,343,000 after acquiring an additional 223,269 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Brinker International by 2,316.6% in the fourth quarter. Franklin Resources Inc. now owns 2,544,700 shares of the restaurant operator’s stock worth $98,836,000 after acquiring an additional 2,439,400 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Brinker International by 47.3% in the fourth quarter. Millennium Management LLC now owns 1,832,718 shares of the restaurant operator’s stock worth $71,183,000 after acquiring an additional 588,896 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Brinker International by 6.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,425,167 shares of the restaurant operator’s stock worth $55,353,000 after acquiring an additional 83,269 shares during the last quarter.
In other Brinker International news, Director Andres Tinajero sold 200,000 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $0.57, for a total transaction of $114,000.00. Also, VP Michaela M. Ware sold 830 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $34.08, for a total value of $28,286.40. Following the sale, the vice president now directly owns 8,181 shares of the company’s stock, valued at approximately $278,808.48. The disclosure for this sale can be found here. 1.91% of the stock is currently owned by insiders.
Brinker International (NYSE:EAT) last posted its quarterly earnings results on Tuesday, January 30th. The restaurant operator reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.15. Brinker International had a negative return on equity of 30.98% and a net margin of 4.10%. The firm had revenue of $766.40 million during the quarter, compared to the consensus estimate of $773.84 million. During the same quarter in the previous year, the business earned $0.71 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. analysts expect that Brinker International, Inc. will post 3.43 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, March 9th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Thursday, March 8th. Brinker International’s dividend payout ratio (DPR) is presently 58.02%.
EAT has been the subject of a number of analyst reports. Canaccord Genuity reissued a “hold” rating and issued a $40.00 price target on shares of Brinker International in a report on Thursday, December 21st. ValuEngine downgraded Brinker International from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Zacks Investment Research downgraded Brinker International from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Barclays reaffirmed an “equal weight” rating and issued a $41.00 price objective (up previously from $37.00) on shares of Brinker International in a research report on Tuesday, January 16th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $39.00 price objective on shares of Brinker International in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $41.08.
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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