Clark Estates Inc. NY grew its position in Brinker International, Inc. (NYSE:EAT) by 2.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 85,300 shares of the restaurant operator’s stock after purchasing an additional 2,000 shares during the quarter. Clark Estates Inc. NY owned approximately 0.22% of Brinker International worth $3,986,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Allianz Asset Management GmbH lifted its stake in shares of Brinker International by 2,802.8% in the third quarter. Allianz Asset Management GmbH now owns 185,375 shares of the restaurant operator’s stock valued at $8,662,000 after buying an additional 178,989 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Brinker International in the third quarter valued at $11,878,000. GSA Capital Partners LLP bought a new position in shares of Brinker International in the third quarter valued at $1,173,000. North Fourth Asset Management LP bought a new position in shares of Brinker International in the third quarter valued at $8,616,000. Finally, AMP Capital Investors Ltd lifted its stake in shares of Brinker International by 56.7% in the third quarter. AMP Capital Investors Ltd now owns 21,549 shares of the restaurant operator’s stock valued at $1,002,000 after buying an additional 7,800 shares in the last quarter.
In other Brinker International news, EVP Steve Provost sold 11,985 shares of the firm’s stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $51.00, for a total value of $611,235.00. Following the completion of the sale, the executive vice president now owns 27,568 shares of the company’s stock, valued at $1,405,968. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Michaela M. Ware sold 2,078 shares of Brinker International stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $48.61, for a total value of $101,011.58. Following the sale, the vice president now directly owns 11,633 shares of the company’s stock, valued at approximately $565,480.13. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,444 shares of company stock worth $2,904,925. Insiders own 2.72% of the company’s stock.
A number of research analysts have weighed in on EAT shares. Bank of America dropped their price objective on shares of Brinker International from $41.00 to $39.00 and set an “underperform” rating on the stock in a research note on Thursday, August 2nd. Telsey Advisory Group dropped their price objective on shares of Brinker International from $52.00 to $49.00 and set a “market perform” rating on the stock in a research note on Friday, August 10th. Gordon Haskett started coverage on shares of Brinker International in a research note on Thursday, October 18th. They issued a “hold” rating and a $44.00 price objective on the stock. Piper Jaffray Companies raised their price objective on shares of Brinker International to $48.00 and gave the company a “positive” rating in a research note on Wednesday, August 15th. Finally, Morgan Stanley raised their price objective on shares of Brinker International from $37.00 to $38.00 and gave the company an “underweight” rating in a research note on Wednesday, August 15th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $46.06.
Shares of Brinker International stock opened at $53.48 on Friday. The stock has a market capitalization of $2.05 billion, a P/E ratio of 14.69, a PEG ratio of 1.59 and a beta of 0.01. Brinker International, Inc. has a 1 year low of $32.03 and a 1 year high of $54.14.
Brinker International (NYSE:EAT) last released its quarterly earnings results on Tuesday, October 30th. The restaurant operator reported $0.47 EPS for the quarter, beating the Thomson Reuters’ 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 net margin of 4.52% and a negative return on equity of 23.89%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. On average, analysts expect that Brinker International, Inc. will post 3.76 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Friday, December 7th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.52 dividend on an annualized basis and a yield of 2.84%. Brinker International’s dividend payout ratio is presently 43.43%.
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Brinker International Profile
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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