Stoneridge Investment Partners LLC maintained its stake in shares of Brinker International Inc. (NYSE:EAT) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,578 shares of the company’s stock at the end of the second quarter. Stoneridge Investment Partners LLC’s holdings in Brinker International were worth $1,074,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Acrospire Investment Management LLC bought a new stake in shares of Brinker International during the first quarter valued at approximately $129,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Brinker International by 4.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,032 shares of the company’s stock valued at $139,000 after buying an additional 140 shares during the period. LS Investment Advisors LLC increased its stake in shares of Brinker International by 59.4% in the second quarter. LS Investment Advisors LLC now owns 3,402 shares of the company’s stock valued at $155,000 after buying an additional 1,268 shares during the period. Clear Harbor Asset Management LLC bought a new stake in shares of Brinker International during the first quarter valued at approximately $230,000. Finally, Atria Investments LLC bought a new stake in shares of Brinker International during the second quarter valued at approximately $259,000.
Brinker International Inc. (NYSE:EAT) traded up 1.31% during midday trading on Friday, reaching $52.54. The company’s stock had a trading volume of 876,501 shares. Brinker International Inc. has a one year low of $43.20 and a one year high of $55.16. The firm has a 50 day moving average price of $52.20 and a 200 day moving average price of $47.74. The firm has a market cap of $2.89 billion, a P/E ratio of 15.36 and a beta of 0.32.
Brinker International (NYSE:EAT) last posted its earnings results on Thursday, August 11th. The company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.01. Brinker International had a net margin of 6.16% and a negative return on equity of 114.14%. The business earned $881.70 million during the quarter, compared to the consensus estimate of $881.43 million. During the same quarter in the previous year, the firm posted $0.94 EPS. The firm’s revenue was up 15.4% on a year-over-year basis. Equities research analysts forecast that Brinker International Inc. will post $3.45 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Friday, September 9th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Wednesday, September 7th. This is an increase from Brinker International’s previous quarterly dividend of $0.32. Brinker International’s payout ratio is 39.42%.
Several analysts have recently commented on the company. Telsey Advisory Group increased their price objective on Brinker International from $56.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, August 12th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $49.00 target price on shares of Brinker International in a report on Tuesday, June 7th. Maxim Group reaffirmed a “buy” rating and issued a $58.00 target price (up from $55.00) on shares of Brinker International in a report on Friday, August 12th. Sanford C. Bernstein initiated coverage on Brinker International in a report on Thursday, May 26th. They issued a “market perform” rating for the company. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $47.00 target price on shares of Brinker International in a report on Thursday, September 1st. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $53.74.
In other news, insider Krista M. Gibson sold 19,000 shares of the business’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $53.27, for a total transaction of $1,012,130.00. Following the completion of the sale, the insider now owns 37,225 shares of the company’s stock, valued at approximately $1,982,975.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Steve Provost sold 11,000 shares of the business’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $54.56, for a total transaction of $600,160.00. Following the sale, the insider now directly owns 23,100 shares of the company’s stock, valued at approximately $1,260,336. The disclosure for this sale can be found here. 2.27% of the stock is currently owned by company insiders.
About Brinker International
Brinker International, Inc (Brinker) owns, develops, operates and franchises the Chili’s Grill & Bar (Chili’s) and Maggiano’s Little Italy (Maggiano’s) restaurant brands. At September 24, 2014, the Company owned, operated or franchised 1,622 restaurants in the United States and 29 countries and two territories outside of the United States.
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