American International Group Inc. Increases Position in Brinker International, Inc. (EAT)
American International Group Inc. boosted its stake in shares of Brinker International, Inc. (NYSE:EAT) by 18.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,710 shares of the company’s stock after buying an additional 20,274 shares during the period. American International Group Inc. owned about 0.23% of Brinker International worth $6,440,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Brinker International by 0.9% in the second quarter. Vanguard Group Inc. now owns 4,600,662 shares of the company’s stock valued at $209,468,000 after buying an additional 42,116 shares in the last quarter. BlackRock Fund Advisors raised its stake in Brinker International by 2.7% in the third quarter. BlackRock Fund Advisors now owns 2,029,429 shares of the company’s stock valued at $102,344,000 after buying an additional 53,958 shares in the last quarter. Capital Research Global Investors raised its stake in Brinker International by 35.0% in the second quarter. Capital Research Global Investors now owns 2,007,500 shares of the company’s stock valued at $91,401,000 after buying an additional 520,000 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Brinker International by 1.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,797,046 shares of the company’s stock valued at $81,820,000 after buying an additional 26,493 shares in the last quarter. Finally, Cooke & Bieler LP raised its stake in Brinker International by 25.5% in the second quarter. Cooke & Bieler LP now owns 1,350,420 shares of the company’s stock valued at $61,485,000 after buying an additional 274,438 shares in the last quarter.
Shares of Brinker International, Inc. (NYSE:EAT) traded down 1.21% during mid-day trading on Friday, reaching $47.27. The company had a trading volume of 386,951 shares. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 14.17 and a beta of 0.21. Brinker International, Inc. has a one year low of $43.30 and a one year high of $55.84. The stock has a 50 day moving average of $51.12 and a 200-day moving average of $50.56.
Brinker International (NYSE:EAT) last posted its earnings results on Tuesday, October 25th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by $0.06. The company had revenue of $758.50 million for the quarter, compared to the consensus estimate of $773.19 million. Brinker International had a negative return on equity of 68.57% and a net margin of 5.86%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 EPS. Equities analysts predict that Brinker International, Inc. will post $3.40 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 29th. Shareholders of record on Friday, December 9th were paid a dividend of $0.34 per share. The ex-dividend date was Wednesday, December 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.84%. Brinker International’s payout ratio is presently 40.84%.
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Several research firms have recently weighed in on EAT. Telsey Advisory Group lowered Brinker International from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $60.00 to $52.00 in a research note on Wednesday, January 4th. Zacks Investment Research lowered Brinker International from a “buy” rating to a “hold” rating in a research note on Thursday, October 27th. RBC Capital Markets reiterated a “sector perform” rating and issued a $54.00 price objective (down from $55.00) on shares of Brinker International in a research note on Thursday, October 27th. Wells Fargo & Company reiterated a “market perform” rating and issued a $50.00 price objective on shares of Brinker International in a research note on Sunday, October 23rd. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $45.00 price objective on shares of Brinker International in a research note on Thursday, December 15th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have given a buy rating to the company’s stock. Brinker International has a consensus rating of “Hold” and an average price target of $52.96.
In other Brinker International news, insider Steve Provost sold 9,728 shares of the business’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $53.91, for a total transaction of $524,436.48. Following the sale, the insider now owns 13,372 shares of the company’s stock, valued at $720,884.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Joseph G. Taylor sold 1,500 shares of the business’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $51.69, for a total transaction of $77,535.00. Following the sale, the vice president now directly owns 2,000 shares in the company, valued at approximately $103,380. The disclosure for this sale can be found here. Company 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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