Bessemer Group Inc. Trims Position in Brinker International, Inc. (NYSE:EAT)
Bessemer Group Inc. lessened its holdings in shares of Brinker International, Inc. (NYSE:EAT) by 35.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 720,341 shares of the restaurant operator’s stock after selling 399,134 shares during the quarter. Bessemer Group Inc. owned approximately 1.92% of Brinker International worth $28,346,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of EAT. Norges Bank acquired a new stake in shares of Brinker International during the 4th quarter worth $28,030,000. JPMorgan Chase & Co. increased its holdings in Brinker International by 9.7% in the 1st quarter. JPMorgan Chase & Co. now owns 2,585,170 shares of the restaurant operator’s stock valued at $114,731,000 after purchasing an additional 228,830 shares in the last quarter. APG Asset Management N.V. increased its holdings in Brinker International by 147.6% in the 4th quarter. APG Asset Management N.V. now owns 320,100 shares of the restaurant operator’s stock valued at $12,315,000 after purchasing an additional 190,800 shares in the last quarter. Hodges Capital Management Inc. acquired a new stake in Brinker International in the 1st quarter valued at $7,910,000. Finally, Federated Investors Inc. PA increased its holdings in Brinker International by 111.8% in the 1st quarter. Federated Investors Inc. PA now owns 144,375 shares of the restaurant operator’s stock valued at $6,407,000 after purchasing an additional 76,212 shares in the last quarter.
Several analysts recently issued reports on EAT shares. Maxim Group reiterated a “buy” rating and issued a $58.00 price target on shares of Brinker International in a report on Tuesday, April 30th. Evercore ISI started coverage on Mondelez International in a report on Tuesday, June 11th. They issued an “outperform” rating and a $62.00 price target for the company. ValuEngine upgraded Westpac Banking from a “sell” rating to a “hold” rating in a report on Wednesday, May 22nd. KeyCorp increased their price target on Jacobs Engineering Group from $86.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, UBS Group lowered their price target on PVH from $159.00 to $144.00 and set a “buy” rating for the company in a report on Monday, June 3rd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $44.44.
Shares of Brinker International stock traded down $0.20 during trading hours on Tuesday, hitting $40.37. 31,415 shares of the company’s stock traded hands, compared to its average volume of 821,622. The stock has a 50 day moving average of $39.01. The stock has a market cap of $1.49 billion, a P/E ratio of 11.57, a PEG ratio of 1.20 and a beta of 0.28. Brinker International, Inc. has a twelve month low of $36.82 and a twelve month high of $53.61.
Brinker International (NYSE:EAT) last announced its earnings results on Tuesday, April 30th. The restaurant operator reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.06. The company had revenue of $839.30 million during the quarter, compared to the consensus estimate of $831.16 million. Brinker International had a negative return on equity of 19.10% and a net margin of 4.75%. The company’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $1.08 earnings per share. As a group, research analysts predict that Brinker International, Inc. will post 3.92 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 7th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend was Thursday, June 6th. Brinker International’s dividend payout ratio is 43.43%.
Brinker International Profile
Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants in the United States and internationally. As of June 27, 2018, it owned, operated, or franchised 1,686 restaurants comprising 997 company-owned restaurants and 689 franchised restaurants under the Chili's Grill & Bar and Maggiano's Little Italy brand names.
Further Reading: Diversification
Receive News & Ratings for Brinker International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brinker International and related companies with MarketBeat.com's FREE daily email newsletter.