Brinker International, Inc. (EAT) Stake Decreased by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. lessened its holdings in shares of Brinker International, Inc. (NYSE:EAT) by 21.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,787 shares of the restaurant operator’s stock after selling 9,021 shares during the period. UBS Asset Management Americas Inc. owned 0.07% of Brinker International worth $1,249,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bruderman Asset Management LLC bought a new stake in shares of Brinker International during the second quarter valued at approximately $123,000. LS Investment Advisors LLC raised its holdings in shares of Brinker International by 14.2% during the second quarter. LS Investment Advisors LLC now owns 4,689 shares of the restaurant operator’s stock valued at $179,000 after buying an additional 582 shares during the last quarter. ING Groep NV bought a new stake in shares of Brinker International during the second quarter valued at approximately $227,000. Profund Advisors LLC raised its holdings in shares of Brinker International by 0.8% during the second quarter. Profund Advisors LLC now owns 6,849 shares of the restaurant operator’s stock valued at $261,000 after buying an additional 57 shares during the last quarter. Finally, Pacad Investment Ltd. bought a new stake in shares of Brinker International during the second quarter valued at approximately $297,000.
A number of equities research analysts have recently weighed in on the company. Barclays PLC cut their price target on Brinker International from $47.00 to $44.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 19th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Brinker International in a report on Monday, July 24th. Maxim Group reaffirmed a “buy” rating and set a $49.00 price target (down previously from $54.00) on shares of Brinker International in a report on Wednesday, August 9th. Zacks Investment Research raised Brinker International from a “sell” rating to a “hold” rating in a report on Monday, September 4th. Finally, Stifel Nicolaus assumed coverage on Brinker International in a report on Monday, October 2nd. They set a “hold” rating and a $36.00 price target on the stock. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $41.23.
In other news, Director Michael A. George bought 16,450 shares of the stock in a transaction on Wednesday, September 6th. The stock was purchased at an average price of $30.31 per share, with a total value of $498,599.50. Following the completion of the purchase, the director now owns 49,952 shares of the company’s stock, valued at $1,514,045.12. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.91% of the stock is currently owned by corporate insiders.
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Brinker International, Inc. (NYSE EAT) opened at 31.87 on Friday. The firm has a 50-day moving average of $31.81 and a 200 day moving average of $37.13. Brinker International, Inc. has a 52-week low of $29.50 and a 52-week high of $55.84. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 10.84 and a beta of 0.26.
Brinker International (NYSE:EAT) last issued its earnings results on Thursday, August 10th. The restaurant operator reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.05. Brinker International had a net margin of 4.79% and a negative return on equity of 31.46%. The firm had revenue of $810.66 million during the quarter, compared to the consensus estimate of $809.94 million. During the same quarter in the prior year, the firm earned $1.24 earnings per share. The business’s quarterly revenue was down 8.1% on a year-over-year basis. On average, equities research analysts forecast that Brinker International, Inc. will post $3.23 earnings per share for the current year.
Brinker International announced that its Board of Directors has approved a stock buyback plan on Thursday, August 10th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the restaurant operator to reacquire up to 14.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Friday, September 8th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.77%. The ex-dividend date was Thursday, September 7th. This is an increase from Brinker International’s previous quarterly dividend of $0.34. Brinker International’s dividend payout ratio is presently 50.84%.
Brinker International 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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