UBS Asset Management Americas Inc. increased its position in shares of Brinker International Inc. (NYSE:EAT) by 6.4% during the second quarter, Holdings Channel reports. The firm owned 57,025 shares of the company’s stock after buying an additional 3,409 shares during the period. UBS Asset Management Americas Inc. owned about 0.10% of Brinker International worth $2,597,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Acrospire Investment Management LLC bought a new position in shares of Brinker International during the first quarter worth $129,000. LS Investment Advisors LLC increased its position in shares of Brinker International by 59.4% in the second quarter. LS Investment Advisors LLC now owns 3,402 shares of the company’s stock worth $155,000 after buying an additional 1,268 shares during the period. Clear Harbor Asset Management LLC bought a new position in shares of Brinker International during the first quarter worth $230,000. Atria Investments LLC bought a new position in shares of Brinker International during the second quarter worth $259,000. Finally, State of Alaska Department of Revenue increased its position in shares of Brinker International by 7.5% in the second quarter. State of Alaska Department of Revenue now owns 6,745 shares of the company’s stock worth $307,000 after buying an additional 468 shares during the period.
Shares of Brinker International Inc. (NYSE:EAT) remained flat at $50.51 on Friday. The company’s stock had a trading volume of 215,920 shares. Brinker International Inc. has a 1-year low of $43.20 and a 1-year high of $55.16. The company’s 50 day moving average price is $52.24 and its 200-day moving average price is $47.95. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 14.77 and a beta of 0.26.
Brinker International (NYSE:EAT) last announced its earnings results on Thursday, August 11th. The company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.01. Brinker International had a negative return on equity of 114.14% and a net margin of 6.16%. The firm earned $881.70 million during the quarter, compared to the consensus estimate of $881.43 million. During the same quarter in the prior year, the company earned $0.94 EPS. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, analysts anticipate that Brinker International Inc. will post $3.47 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Friday, September 9th were paid a dividend of $0.34 per share. This is an increase from Brinker International’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, September 7th. This represents a $1.36 annualized dividend and a yield of 2.69%. Brinker International’s dividend payout ratio is presently 39.42%.
A number of research analysts recently weighed in on EAT shares. Sterne Agee CRT restated a “buy” rating and set a $51.00 price objective on shares of Brinker International in a research report on Monday, June 13th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Brinker International in a report on Sunday, June 12th. Maxim Group reaffirmed a “buy” rating and set a $58.00 target price (up from $55.00) on shares of Brinker International in a report on Friday, August 12th. Zacks Investment Research raised shares of Brinker International from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Wednesday. Finally, Barclays PLC upped their target price on shares of Brinker International from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Friday, June 10th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and ten have issued a buy rating to the stock. Brinker International presently has an average rating of “Hold” and a consensus price target of $53.93.
In other Brinker International news, insider Steve Provost sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $54.56, for a total value of $600,160.00. Following the completion of the sale, the insider now owns 23,100 shares in the company, valued at approximately $1,260,336. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Wyman Roberts sold 41,722 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $53.00, for a total value of $2,211,266.00. Following the completion of the sale, the insider now owns 114,746 shares of the company’s stock, valued at approximately $6,081,538. The disclosure for this sale can be found here. Corporate insiders own 1.76% of the company’s stock.
Brinker International Company Profile
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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