Louisiana State Employees Retirement System reduced its stake in shares of Brinker International Inc. (NYSE:EAT) by 6.3% during the second quarter, Holdings Channel reports. The fund owned 14,800 shares of the company’s stock after selling 1,000 shares during the period. Louisiana State Employees Retirement System’s holdings in Brinker International were worth $674,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. BlackRock Institutional Trust Company N.A. increased its stake in shares of Brinker International by 3.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,770,553 shares of the company’s stock valued at $81,357,000 after buying an additional 56,956 shares during the last quarter. State Street Corp increased its stake in shares of Brinker International by 4.1% in the first quarter. State Street Corp now owns 1,711,631 shares of the company’s stock valued at $78,653,000 after buying an additional 67,579 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Brinker International by 8.7% in the first quarter. TIAA CREF Investment Management LLC now owns 972,830 shares of the company’s stock valued at $44,702,000 after buying an additional 78,210 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Brinker International by 4.6% in the first quarter. Wellington Management Group LLP now owns 644,106 shares of the company’s stock valued at $29,597,000 after buying an additional 28,077 shares during the last quarter. Finally, Reinhart Partners Inc. increased its stake in shares of Brinker International by 41.0% in the second quarter. Reinhart Partners Inc. now owns 532,946 shares of the company’s stock valued at $24,265,000 after buying an additional 154,918 shares during the last quarter.
Brinker International Inc. (NYSE:EAT) traded down 1.98% on Thursday, reaching $49.96. The company’s stock had a trading volume of 1,403,858 shares. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 14.61 and a beta of 0.26. Brinker International Inc. has a 1-year low of $43.20 and a 1-year high of $55.16. The firm’s 50 day moving average price is $51.86 and its 200-day moving average price is $48.08.
Brinker International (NYSE:EAT) last announced its earnings results on Thursday, August 11th. The company reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ 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 had revenue of $881.70 million for the quarter, compared to the consensus estimate of $881.43 million. During the same period in the previous year, the business earned $0.94 EPS. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. Equities analysts forecast 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 represents a $1.36 annualized dividend and a yield of 2.72%. This is an increase from Brinker International’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, September 7th. Brinker International’s payout ratio is 39.42%.
EAT has been the subject of several recent research reports. Zacks Investment Research upgraded Brinker International from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Wednesday, October 5th. Piper Jaffray Cos. upped their target price on Brinker International from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, August 12th. RBC Capital Markets restated a “sector perform” rating and set a $55.00 target price (up previously from $49.00) on shares of Brinker International in a report on Saturday, August 13th. Canaccord Genuity started coverage on Brinker International in a report on Monday, August 22nd. They set a “hold” rating and a $56.00 target price for the company. Finally, Barclays PLC upped their target price on Brinker International from $48.00 to $55.00 and gave the company an “equal weight” rating in a report on Friday, August 12th. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $53.93.
In related news, insider Wyman Roberts sold 41,722 shares of the business’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $53.00, for a total transaction of $2,211,266.00. Following the transaction, the insider now directly owns 114,746 shares in the company, valued at approximately $6,081,538. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Steve Provost sold 11,000 shares of the business’s stock in a transaction 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 transaction, the insider now owns 23,100 shares in the company, valued at $1,260,336. The disclosure for this sale can be found here. Corporate insiders own 1.76% of the company’s stock.
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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