Goldman Sachs Group Inc. grew its position in Brinker International, Inc. (NYSE:EAT) by 10.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 827,368 shares of the restaurant operator’s stock after buying an additional 81,371 shares during the period. Goldman Sachs Group Inc. owned 1.69% of Brinker International worth $31,523,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Kernodle & Katon Asset Management Group LLC grew its stake in shares of Brinker International by 0.4% in 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 buying an additional 17 shares during the period. Profund Advisors LLC grew its stake in shares of Brinker International by 0.8% in the 2nd quarter. Profund Advisors LLC now owns 6,849 shares of the restaurant operator’s stock valued at $261,000 after buying an additional 57 shares during the period. Wedge Capital Management L L P NC grew its stake in shares of Brinker International by 1.3% in the 2nd quarter. Wedge Capital Management L L P NC now owns 10,275 shares of the restaurant operator’s stock valued at $391,000 after buying an additional 135 shares during the period. D.A. Davidson & CO. grew its stake in shares of Brinker International by 2.2% in the 2nd quarter. D.A. Davidson & CO. now owns 7,832 shares of the restaurant operator’s stock valued at $298,000 after buying an additional 166 shares during the period. Finally, State Treasurer State of Michigan boosted its position in shares of Brinker International by 1.5% during the 2nd quarter. State Treasurer State of Michigan now owns 20,177 shares of the restaurant operator’s stock worth $769,000 after purchasing an additional 300 shares during the period.
In other Brinker International news, Director Michael A. George acquired 16,450 shares of the firm’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.91% of the stock is owned by insiders.
EAT has been the subject of a number of research analyst reports. Maxim Group lowered their price objective on shares of Brinker International from $54.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, August 3rd. ValuEngine raised shares of Brinker International from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. Barclays PLC reaffirmed an “equal weight” rating and set a $47.00 price objective on shares of Brinker International in a research report on Tuesday, July 4th. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Brinker International in a research report on Friday, August 11th. Finally, BMO Capital Markets set a $36.00 price objective on shares of Brinker International and gave the stock a “hold” rating in a research report on Saturday, August 12th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $43.50.
Shares of Brinker International, Inc. (EAT) opened at 32.46 on Wednesday. Brinker International, Inc. has a 12-month low of $29.50 and a 12-month high of $55.84. The firm’s 50-day moving average is $31.84 and its 200-day moving average is $37.71. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 11.04 and a beta of 0.26.
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, topping the 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 company had revenue of $810.66 million during the quarter, compared to the consensus estimate of $809.94 million. During the same period in the previous year, the firm earned $1.24 earnings per share. Brinker International’s revenue for the quarter was down 8.1% on a year-over-year basis. Equities research analysts forecast that Brinker International, Inc. will post $3.23 EPS for the current fiscal year.
Brinker International announced that its board has initiated a stock repurchase program on Thursday, August 10th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the restaurant operator to purchase up to 14.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Friday, September 8th were paid a dividend of $0.38 per share. This is an increase from Brinker International’s previous quarterly dividend of $0.34. This represents a $1.52 annualized dividend and a yield of 4.68%. The ex-dividend date was Thursday, September 7th. Brinker International’s payout ratio is currently 50.84%.
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Brinker International 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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