McKinley Carter Wealth Services Inc. acquired a new position in Brinker International, Inc. (NYSE:EAT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,049 shares of the restaurant operator’s stock, valued at approximately $2,432,000.
Several other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Brinker International by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,310,802 shares of the restaurant operator’s stock worth $62,397,000 after acquiring an additional 5,541 shares in the last quarter. Contrarius Investment Management Ltd grew its holdings in Brinker International by 61.1% during the 2nd quarter. Contrarius Investment Management Ltd now owns 1,116,833 shares of the restaurant operator’s stock valued at $53,161,000 after purchasing an additional 423,705 shares in the last quarter. Millennium Management LLC grew its holdings in Brinker International by 2,460.9% during the 2nd quarter. Millennium Management LLC now owns 576,652 shares of the restaurant operator’s stock valued at $27,449,000 after purchasing an additional 601,077 shares in the last quarter. Copper Rock Capital Partners LLC acquired a new stake in Brinker International during the 3rd quarter valued at $23,778,000. Finally, Point72 Asset Management L.P. grew its holdings in Brinker International by 398.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 414,947 shares of the restaurant operator’s stock valued at $19,751,000 after purchasing an additional 331,705 shares in the last quarter.
In other Brinker International news, insider Wyman Roberts sold 35,478 shares of the stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $47.55, for a total transaction of $1,686,978.90. Following the transaction, the insider now directly owns 149,991 shares in the company, valued at approximately $7,132,072.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michaela M. Ware sold 2,078 shares of the stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $48.61, for a total transaction of $101,011.58. Following the transaction, the vice president now owns 11,633 shares in the company, valued at $565,480.13. The disclosure for this sale can be found here. Insiders have sold a total of 44,459 shares of company stock worth $2,090,890 over the last quarter. 2.72% of the stock is currently owned by insiders.
Brinker International (NYSE:EAT) last posted its quarterly earnings data on Tuesday, October 30th. The restaurant operator reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. Brinker International had a net margin of 4.52% and a negative return on equity of 23.89%. The firm had revenue of $753.80 million for the quarter, compared to the consensus estimate of $756.40 million. During the same period in the prior year, the firm posted $0.42 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts predict that Brinker International, Inc. will post 3.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Friday, December 7th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.52 dividend on an annualized basis and a yield of 3.09%. Brinker International’s dividend payout ratio (DPR) is 43.43%.
A number of research firms recently weighed in on EAT. Canaccord Genuity lowered their price target on shares of Brinker International from $49.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, August 15th. TheStreet lowered shares of Brinker International from a “b-” rating to a “c” rating in a report on Wednesday, August 15th. Barclays raised their price target on shares of Brinker International from $46.00 to $50.00 and gave the company a “$49.71” rating in a report on Wednesday, July 18th. Bank of America lowered their price target on shares of Brinker International from $41.00 to $39.00 and set an “underperform” rating for the company in a report on Thursday, August 2nd. Finally, Wells Fargo & Co raised their price target on shares of Brinker International from $42.00 to $43.00 and gave the company a “market perform” rating in a report on Monday, August 13th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. Brinker International presently has an average rating of “Hold” and an average price target of $46.19.
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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.
See Also: Cash Flow
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