Michael A. George Buys 16,450 Shares of Brinker International, Inc. (EAT) Stock
Brinker International, Inc. (NYSE:EAT) Director Michael A. George purchased 16,450 shares of the 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 completion of the acquisition, the director now owns 49,952 shares in the company, valued at approximately $1,514,045.12. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Brinker International, Inc. (NYSE EAT) traded down 0.73% during trading on Thursday, reaching $29.89. The company had a trading volume of 1,969,039 shares. The firm’s 50 day moving average is $34.11 and its 200-day moving average is $39.51. The company has a market capitalization of $1.45 billion, a P/E ratio of 10.17 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 quarterly earnings results on Thursday, August 10th. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.05. Brinker International had a negative return on equity of 31.46% and a net margin of 4.79%. The firm had revenue of $810.66 million during the quarter, compared to the consensus estimate of $809.94 million. During the same quarter in the previous year, the business earned $1.24 earnings per share. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. On average, equities analysts expect that Brinker International, Inc. will post $3.25 earnings per share for the current year.
Brinker International announced that its board has initiated a share buyback plan on Thursday, August 10th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the restaurant operator to reacquire up to 14.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 8th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend is Thursday, September 7th. This is an increase from Brinker International’s previous quarterly dividend of $0.34. Brinker International’s payout ratio is 45.48%.
Hedge funds have recently bought and sold shares of the business. Boston Financial Mangement LLC grew its position in Brinker International by 1.1% during the first quarter. Boston Financial Mangement LLC now owns 111,009 shares of the restaurant operator’s stock valued at $4,880,000 after acquiring an additional 1,168 shares during the period. UBS Asset Management Americas Inc. grew its position in Brinker International by 14.7% during the first quarter. UBS Asset Management Americas Inc. now owns 41,808 shares of the restaurant operator’s stock valued at $1,838,000 after acquiring an additional 5,350 shares during the period. Karp Capital Management Corp purchased a new stake in Brinker International during the first quarter valued at about $2,980,000. Bank of New York Mellon Corp grew its position in Brinker International by 6.8% during the first quarter. Bank of New York Mellon Corp now owns 1,160,945 shares of the restaurant operator’s stock valued at $51,035,000 after acquiring an additional 73,715 shares during the period. Finally, Cadence Capital Management LLC boosted its position in shares of Brinker International by 65.1% in the first quarter. Cadence Capital Management LLC now owns 13,938 shares of the restaurant operator’s stock worth $613,000 after buying an additional 5,495 shares during the period.
EAT has been the subject of a number of research analyst reports. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Brinker International in a report on Monday, July 24th. ValuEngine cut Brinker International from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BMO Capital Markets set a $36.00 price target on Brinker International and gave the stock a “hold” rating in a report on Saturday, August 12th. Maxim Group reiterated a “buy” rating and set a $54.00 price target on shares of Brinker International in a report on Thursday, June 15th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $50.00 price target on shares of Brinker International in a report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $45.67.
About Brinker International
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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