Northwestern Mutual Investment Management Company LLC Lowers Position in Brinker International Inc. (EAT)
Northwestern Mutual Investment Management Company LLC decreased its position in shares of Brinker International Inc. (NYSE:EAT) by 90.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,619 shares of the company’s stock after selling 92,031 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Brinker International were worth $438,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Bruderman Asset Management LLC increased its position in Brinker International by 82.5% in the second quarter. Bruderman Asset Management LLC now owns 2,551 shares of the company’s stock worth $116,000 after buying an additional 1,153 shares during the period. Acrospire Investment Management LLC bought a new stake in shares of Brinker International during the first quarter valued at approximately $129,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Brinker International by 4.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,032 shares of the company’s stock valued at $139,000 after buying an additional 140 shares during the last quarter. LS Investment Advisors LLC increased its stake 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 valued at $155,000 after buying an additional 1,268 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new stake in shares of Brinker International during the second quarter valued at approximately $173,000.
Brinker International Inc. (NYSE:EAT) opened at 50.74 on Tuesday. The stock has a market cap of $2.79 billion, a P/E ratio of 14.84 and a beta of 0.32. Brinker International Inc. has a one year low of $43.20 and a one year high of $55.16. The stock’s 50 day moving average price is $51.54 and its 200-day moving average price is $47.67.
Brinker International (NYSE:EAT) last released its quarterly earnings results on Thursday, August 11th. The company reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.01. The business had revenue of $881.70 million for the quarter, compared to analyst estimates of $881.43 million. Brinker International had a negative return on equity of 114.14% and a net margin of 6.16%. Brinker International’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.94 EPS. On average, analysts predict that Brinker International Inc. will post $3.45 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Friday, September 9th will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, September 7th. This is a positive change from Brinker International’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 2.68%. Brinker International’s dividend payout ratio is 39.42%.
EAT has been the subject of a number of recent analyst reports. BMO Capital Markets restated a “hold” rating and set a $47.00 price objective on shares of Brinker International in a research note on Thursday, September 1st. Canaccord Genuity began coverage on Brinker International in a research report on Monday, August 22nd. They issued a “hold” rating and a $56.00 target price for the company. Argus reiterated a “hold” rating on shares of Brinker International in a research report on Thursday, August 18th. RBC Capital Markets reiterated a “sector perform” rating and issued a $55.00 target price (up previously from $49.00) on shares of Brinker International in a research report on Saturday, August 13th. Finally, Barclays PLC lifted their target price on Brinker International from $48.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Friday, August 12th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have issued a buy rating to the stock. Brinker International has a consensus rating of “Hold” and an average price target of $53.74.
In other Brinker International news, insider Wyman Roberts sold 41,722 shares of the company’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 owns 114,746 shares of the company’s stock, valued at approximately $6,081,538. The transaction 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 company’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 directly owns 23,100 shares in the company, valued at approximately $1,260,336. The disclosure for this sale can be found here. Corporate insiders own 2.27% of the company’s stock.
About Brinker International
Brinker International, Inc (Brinker) owns, develops, operates and franchises the Chili’s Grill & Bar (Chili’s) and Maggiano’s Little Italy (Maggiano’s) restaurant brands. At September 24, 2014, the Company owned, operated or franchised 1,622 restaurants in the United States and 29 countries and two territories outside of the United States.
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