Impala Asset Management LLC trimmed its stake in Brinker International, Inc. (NYSE:EAT) by 81.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,633 shares of the restaurant operator’s stock after selling 63,240 shares during the period. Impala Asset Management LLC’s holdings in Brinker International were worth $558,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of EAT. Bruderman Asset Management LLC purchased a new stake in shares of Brinker International in the 2nd quarter worth $123,000. LS Investment Advisors LLC increased its stake in shares of Brinker International by 14.2% in the 2nd quarter. LS Investment Advisors LLC now owns 4,689 shares of the restaurant operator’s stock worth $179,000 after purchasing an additional 582 shares in the last quarter. Kernodle & Katon Asset Management Group LLC increased 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 worth $214,000 after purchasing an additional 17 shares in the last quarter. ING Groep NV purchased a new stake in shares of Brinker International in the 2nd quarter worth $227,000. Finally, Segantii Capital Management Ltd purchased a new stake in shares of Brinker International in the 1st quarter worth $286,000.
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Brinker International, Inc. (NYSE EAT) traded up 2.39% on Friday, hitting $32.97. 1,894,957 shares of the company’s stock traded hands. The stock has a market cap of $1.60 billion, a PE ratio of 11.21 and a beta of 0.26. The stock has a 50-day moving average of $33.20 and a 200-day moving average of $39.00. Brinker International, Inc. has a one year low of $29.50 and a one year high of $55.84.
Brinker International (NYSE:EAT) last released its quarterly earnings data on Thursday, August 10th. The restaurant operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.05. The company had revenue of $810.66 million during the quarter, compared to analysts’ expectations of $809.94 million. Brinker International had a net margin of 4.79% and a negative return on equity of 31.46%. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.24 earnings per share. On average, equities analysts forecast that Brinker International, Inc. will post $3.24 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Friday, September 8th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.61%. This is a boost from Brinker International’s previous quarterly dividend of $0.34. Brinker International’s payout ratio is currently 50.84%.
Brinker International announced that its board has approved a share repurchase program on Thursday, August 10th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the restaurant operator to reacquire up to 14.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
In related news, Director Michael A. George bought 16,450 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was acquired at an average price of $30.31 per share, with a total value of $498,599.50. Following the completion of the purchase, the director now directly owns 49,952 shares of the company’s stock, valued at $1,514,045.12. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.76% of the stock is owned by insiders.
EAT has been the subject of several analyst reports. Raymond James Financial, Inc. restated a “market perform” rating on shares of Brinker International in a research note on Monday, July 24th. ValuEngine lowered Brinker International from a “buy” rating to a “hold” rating in a research note 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 research note on Saturday, August 12th. Maxim Group reiterated a “buy” rating and issued a $54.00 price target on shares of Brinker International in a research note on Thursday, June 15th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $50.00 price target on shares of Brinker International in a research note on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company. Brinker International has a consensus rating of “Hold” and an average price target 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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