Martingale Asset Management L P Acquires 5,599 Shares of Brinker International, Inc. (EAT)

Martingale Asset Management L P lifted its holdings in shares of Brinker International, Inc. (NYSE:EAT) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 162,559 shares of the restaurant operator’s stock after buying an additional 5,599 shares during the period. Martingale Asset Management L P owned about 0.42% of Brinker International worth $7,597,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of Brinker International by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,310,802 shares of the restaurant operator’s stock worth $62,397,000 after buying an additional 5,541 shares during the last quarter. Contrarius Investment Management Ltd boosted its stake in shares of 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 worth $53,161,000 after buying an additional 423,705 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Brinker International by 2,460.9% during the 2nd quarter. Millennium Management LLC now owns 576,652 shares of the restaurant operator’s stock worth $27,449,000 after buying an additional 601,077 shares during the last quarter. Copper Rock Capital Partners LLC acquired a new position in shares of Brinker International during the 3rd quarter worth about $23,778,000. Finally, Point72 Asset Management L.P. boosted its stake in shares of 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 worth $19,751,000 after buying an additional 331,705 shares during the last quarter.

Shares of NYSE:EAT opened at $49.53 on Friday. Brinker International, Inc. has a 52-week low of $32.03 and a 52-week high of $54.14. The stock has a market capitalization of $1.93 billion, a P/E ratio of 14.15, a PEG ratio of 1.50 and a beta of 0.01.

Brinker International (NYSE:EAT) last issued its earnings results on Tuesday, October 30th. The restaurant operator reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The business had revenue of $753.80 million during the quarter, compared to the consensus estimate of $756.40 million. Brinker International had a net margin of 4.52% and a negative return on equity of 23.89%. Brinker International’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the business posted $0.42 EPS. Equities 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 given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.52 annualized dividend and a yield of 3.07%. Brinker International’s dividend payout ratio (DPR) is presently 43.43%.

EAT has been the subject of a number of recent research reports. Maxim Group restated a “buy” rating and set a $55.00 price objective on shares of Brinker International in a research note on Tuesday, October 30th. Piper Jaffray Companies increased their price objective on shares of Brinker International to $48.00 and gave the stock a “positive” rating in a research note on Wednesday, August 15th. Loop Capital initiated coverage on shares of Brinker International in a research note on Wednesday, October 24th. They set a “hold” rating and a $50.00 price objective for the company. Morgan Stanley increased their price objective on shares of Brinker International from $38.00 to $40.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 31st. Finally, Gordon Haskett initiated coverage on shares of Brinker International in a research note on Thursday, October 18th. They set a “hold” rating and a $44.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. Brinker International has a consensus rating of “Hold” and a consensus target price of $46.19.

In other Brinker International news, EVP Kelli Valade sold 4,905 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $43.37, for a total transaction of $212,729.85. Following the completion of the sale, the executive vice president now directly owns 74,068 shares in the company, valued at $3,212,329.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Wade Allen sold 1,998 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $45.13, for a total transaction of $90,169.74. Following the sale, the senior vice president now owns 8,479 shares of the company’s stock, valued at $382,657.27. The disclosure for this sale can be found here. Insiders have sold 48,459 shares of company stock valued at $2,293,690 over the last 90 days. Company insiders own 2.72% of the company’s stock.

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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.

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

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