Davidson Kempner Capital Management LP Purchases New Holdings in Brinker International, Inc. (EAT)
Davidson Kempner Capital Management LP purchased a new position in shares of Brinker International, Inc. (NYSE:EAT) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 150,000 shares of the restaurant operator’s stock, valued at approximately $4,779,000. Davidson Kempner Capital Management LP owned about 0.32% of Brinker International at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in EAT. Marshall Wace North America L.P. acquired a new stake in shares of Brinker International during the 2nd quarter worth approximately $42,664,000. BlackRock Inc. increased its holdings in shares of Brinker International by 27.8% during the 2nd quarter. BlackRock Inc. now owns 5,080,271 shares of the restaurant operator’s stock worth $193,557,000 after buying an additional 1,104,999 shares during the last quarter. Balyasny Asset Management LLC boosted its position in shares of Brinker International by 3,244.4% during the 2nd quarter. Balyasny Asset Management LLC now owns 899,246 shares of the restaurant operator’s stock worth $34,261,000 after purchasing an additional 872,358 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Brinker International by 16.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,154,891 shares of the restaurant operator’s stock worth $168,822,000 after purchasing an additional 726,427 shares during the period. Finally, Bessemer Group Inc. boosted its position in shares of Brinker International by 97.9% during the 3rd quarter. Bessemer Group Inc. now owns 1,303,134 shares of the restaurant operator’s stock worth $41,518,000 after purchasing an additional 644,700 shares during the period.
In other news, insider Wyman Roberts sold 33,683 shares of Brinker International stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $37.88, for a total transaction of $1,275,912.04. Following the completion of the sale, the insider now directly owns 137,572 shares of the company’s stock, valued at approximately $5,211,227.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Charles A. Lousignont sold 3,364 shares of Brinker International stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $33.00, for a total transaction of $111,012.00. Following the sale, the senior vice president now directly owns 15,074 shares of the company’s stock, valued at $497,442. The disclosure for this sale can be found here. Company insiders own 1.91% of the company’s stock.
Brinker International (NYSE:EAT) last issued its quarterly earnings results on Wednesday, November 1st. The restaurant operator reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.01). Brinker International had a net margin of 4.39% and a negative return on equity of 30.36%. The business had revenue of $739.40 million during the quarter, compared to analysts’ expectations of $749.05 million. During the same period in the prior year, the business earned $0.49 EPS. The business’s quarterly revenue was down 2.5% on a year-over-year basis. equities research analysts forecast that Brinker International, Inc. will post 3.22 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 8th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.52 annualized dividend and a yield of 3.96%. Brinker International’s dividend payout ratio is presently 54.87%.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research cut shares of Brinker International from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. BMO Capital Markets reaffirmed a “hold” rating on shares of Brinker International in a research report on Monday, November 6th. Barclays lowered their price objective on shares of Brinker International from $41.00 to $38.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 18th. Maxim Group reaffirmed a “buy” rating and set a $49.00 price objective on shares of Brinker International in a research report on Tuesday, September 12th. Finally, Canaccord Genuity reaffirmed a “hold” rating on shares of Brinker International in a research report on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the stock. Brinker International has a consensus rating of “Hold” and a consensus target price of $40.50.
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Brinker International Company 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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