Texas Permanent School Fund lessened its position in Brinker International, Inc. (NYSE:EAT) by 9.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,685 shares of the restaurant operator’s stock after selling 2,619 shares during the period. Texas Permanent School Fund owned about 0.06% of Brinker International worth $1,200,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. LifePlan Financial Group Inc bought a new stake in shares of Brinker International during the 2nd quarter worth about $112,000. Sei Investments Co. boosted its holdings in shares of Brinker International by 913.2% during the 2nd quarter. Sei Investments Co. now owns 3,597 shares of the restaurant operator’s stock worth $171,000 after buying an additional 3,242 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Brinker International during the 2nd quarter worth about $199,000. Ausdal Financial Partners Inc. bought a new stake in shares of Brinker International during the 2nd quarter worth about $211,000. Finally, Ifrah Financial Services Inc. bought a new stake in shares of Brinker International during the 2nd quarter worth about $215,000.
Several analysts recently commented on EAT shares. Morgan Stanley lifted their target price on shares of Brinker International from $35.00 to $37.00 and gave the stock an “underweight” rating in a report on Monday, July 16th. Zacks Investment Research downgraded shares of Brinker International from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Barclays lifted their target price on shares of Brinker International from $46.00 to $50.00 and gave the stock a “$49.71” rating in a report on Wednesday, July 18th. Bank of America reduced their target price on shares of Brinker International from $41.00 to $39.00 and set an “underperform” rating for the company in a report on Thursday, August 2nd. Finally, Maxim Group reaffirmed a “buy” rating and set a $55.00 target price on shares of Brinker International in a report on Tuesday, August 7th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $46.19.
Shares of Brinker International stock opened at $49.25 on Friday. Brinker International, Inc. has a twelve month low of $32.03 and a twelve month high of $54.14. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 1.47 and a beta of 0.01.
Brinker International (NYSE:EAT) last issued its quarterly earnings data on Tuesday, October 30th. The restaurant operator reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.02. Brinker International had a net margin of 4.52% and a negative return on equity of 23.89%. The business had revenue of $753.80 million during the quarter, compared to analysts’ expectations of $756.40 million. During the same quarter in the previous year, the company earned $0.42 EPS. The business’s revenue was up 1.9% on a year-over-year basis. Equities analysts expect that Brinker International, Inc. will post 3.76 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Friday, December 7th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.09%. The ex-dividend date is Thursday, December 6th. Brinker International’s dividend payout ratio (DPR) is 43.43%.
In other news, SVP Wade Allen sold 1,998 shares of the business’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $45.13, for a total value of $90,169.74. Following the completion of the transaction, the senior vice president now directly owns 8,479 shares in the company, valued at approximately $382,657.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelli Valade sold 4,905 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $43.37, for a total transaction 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 $3,212,329.16. The disclosure for this sale can be found here. Insiders sold a total of 44,459 shares of company stock valued at $2,090,890 in the last quarter. Corporate insiders own 2.72% of the company’s stock.
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.
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