US Bancorp DE cut its stake in Brinker International, Inc. (NYSE:EAT) by 1.3% during the second quarter, Holdings Channel reports. The firm owned 20,502 shares of the restaurant operator’s stock after selling 263 shares during the period. US Bancorp DE’s holdings in Brinker International were worth $781,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Boston Financial Mangement LLC increased its position in Brinker International by 1.1% in the first quarter. Boston Financial Mangement LLC now owns 111,009 shares of the restaurant operator’s stock valued at $4,880,000 after buying an additional 1,168 shares during the period. Atria Investments LLC increased its position in shares of Brinker International by 72.9% in the first quarter. Atria Investments LLC now owns 9,321 shares of the restaurant operator’s stock valued at $410,000 after buying an additional 3,930 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Brinker International by 14.7% in the first quarter. UBS Asset Management Americas Inc. now owns 41,808 shares of the restaurant operator’s stock valued at $1,838,000 after buying an additional 5,350 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of Brinker International during the first quarter valued at approximately $2,980,000. Finally, Bank of New York Mellon Corp increased its position in shares of Brinker International by 6.8% in the first quarter. Bank of New York Mellon Corp now owns 1,160,945 shares of the restaurant operator’s stock valued at $51,035,000 after buying an additional 73,715 shares during the last quarter.

Brinker International, Inc. (EAT) traded up 1.23% during mid-day trading on Friday, hitting $35.32. 1,832,161 shares of the stock traded hands. Brinker International, Inc. has a 12 month low of $33.41 and a 12 month high of $55.84. The company’s 50 day moving average is $36.42 and its 200 day moving average is $41.04. The company has a market cap of $1.73 billion, a P/E ratio of 12.01 and a beta of 0.25.

Brinker International (NYSE:EAT) last issued its earnings results on Thursday, August 10th. The restaurant operator reported $1.09 earnings per share for the quarter, topping the Zacks’ 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 analyst estimates of $809.94 million. During the same quarter in the prior year, the business earned $1.24 earnings per share. Brinker International’s revenue for the quarter was down 8.1% on a year-over-year basis. On average, analysts expect that Brinker International, Inc. will post $3.22 earnings per share for the current fiscal year.

Brinker International declared that its board has approved a stock buyback plan on Thursday, August 10th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the restaurant operator to reacquire up to 14.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 8th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.52 annualized dividend and a yield of 4.30%. This is a positive change from Brinker International’s previous quarterly dividend of $0.34. Brinker International’s dividend payout ratio (DPR) is 45.48%.

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EAT has been the subject of several analyst reports. Maxim Group reissued a “buy” rating and issued a $54.00 price target on shares of Brinker International in a report on Thursday, June 15th. ValuEngine raised shares of Brinker International from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Stephens reissued an “equal weight” rating and issued a $52.00 price target on shares of Brinker International in a report on Wednesday, April 26th. Barclays PLC reissued an “equal weight” rating and issued a $47.00 price target on shares of Brinker International in a report on Tuesday, July 4th. Finally, Zacks Investment Research raised shares of Brinker International from a “sell” rating to a “hold” rating in a report on Wednesday, April 26th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $46.31.

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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Institutional Ownership by Quarter for Brinker International (NYSE:EAT)

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