Brinker International, Inc. (EAT) Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its holdings in Brinker International, Inc. (NYSE:EAT) by 68.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,227 shares of the restaurant operator’s stock after selling 150,731 shares during the quarter. Bank of Montreal Can’s holdings in Brinker International were worth $3,282,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Hartford Investment Management Co. purchased a new stake in Brinker International in the second quarter worth $279,000. Ausdal Financial Partners Inc. purchased a new stake in Brinker International in the second quarter worth $211,000. Jennison Associates LLC purchased a new stake in Brinker International in the second quarter worth $1,500,000. Principal Financial Group Inc. lifted its stake in Brinker International by 1.8% in the first quarter. Principal Financial Group Inc. now owns 203,678 shares of the restaurant operator’s stock worth $7,353,000 after acquiring an additional 3,638 shares during the period. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in Brinker International in the second quarter worth $591,000.

Shares of Brinker International stock opened at $45.35 on Monday. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 1.36 and a beta of 0.01. Brinker International, Inc. has a 12 month low of $31.74 and a 12 month high of $54.14.

Brinker International (NYSE:EAT) last posted its quarterly earnings results on Tuesday, October 30th. The restaurant operator reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.02. The firm had revenue of $753.80 million during the quarter, compared to analyst estimates of $756.40 million. Brinker International had a negative return on equity of 23.89% and a net margin of 4.52%. Brinker International’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. As a group, equities research analysts forecast that Brinker International, Inc. will post 3.76 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Friday, December 7th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Thursday, December 6th. Brinker International’s dividend payout ratio is presently 43.43%.

A number of analysts recently commented on EAT shares. Maxim Group reaffirmed a “buy” rating and issued a $55.00 price target on shares of Brinker International in a research note on Tuesday, October 30th. Piper Jaffray Companies raised their price target on Brinker International to $48.00 and gave the stock a “positive” rating in a research note on Wednesday, August 15th. Morgan Stanley raised their price objective on Brinker International from $38.00 to $40.00 and gave the company an “underweight” rating in a research report on Wednesday, October 31st. Loop Capital initiated coverage on Brinker International in a research report on Wednesday, October 24th. They set a “hold” rating and a $50.00 price objective for the company. Finally, BMO Capital Markets set a $43.00 price objective on Brinker International and gave the company a “hold” rating in a research report on Tuesday, August 14th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $46.19.

In other news, EVP Kelli Valade sold 4,905 shares of Brinker International stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $43.37, for a total value of $212,729.85. Following the completion of the transaction, the executive vice president now owns 74,068 shares of the company’s stock, valued at approximately $3,212,329.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.72% of the stock is owned by insiders.

About Brinker International

Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants in the United States and internationally. As of June 27, 2018, it owned, operated, or franchised 1,686 restaurants comprising 997 company-owned restaurants and 689 franchised restaurants under the Chili's Grill & Bar and Maggiano's Little Italy brand names.

Further Reading: Preferred Stock

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Institutional Ownership by Quarter for Brinker International (NYSE:EAT)

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