Cambiar Investors LLC increased its stake in shares of Brinker International Inc. (NYSE:EAT) by 9.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 616,758 shares of the company’s stock after buying an additional 50,776 shares during the period. Cambiar Investors LLC’s holdings in Brinker International were worth $28,081,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. State Street Corp increased its stake in shares of Brinker International by 4.1% in the first quarter. State Street Corp now owns 1,711,631 shares of the company’s stock valued at $78,653,000 after buying an additional 67,579 shares during the last quarter. Menta Capital LLC bought a new stake in shares of Brinker International during the first quarter valued at $312,000. Acrospire Investment Management LLC bought a new stake in shares of Brinker International during the first quarter valued at $129,000. JPMorgan Chase & Co. increased its stake in shares of Brinker International by 19.9% in the first quarter. JPMorgan Chase & Co. now owns 6,023,056 shares of the company’s stock valued at $276,759,000 after buying an additional 1,001,600 shares during the last quarter. Finally, BlackRock Japan Co. Ltd bought a new stake in shares of Brinker International during the first quarter valued at $545,000.
Brinker International Inc. (NYSE:EAT) traded up 0.48% during midday trading on Friday, hitting $50.43. The stock had a trading volume of 1,116,715 shares. The company’s 50 day moving average price is $52.76 and its 200-day moving average price is $47.82. The stock has a market cap of $2.77 billion, a PE ratio of 14.75 and a beta of 0.32. Brinker International Inc. has a 52-week low of $43.20 and a 52-week high of $55.16.
Brinker International (NYSE:EAT) last announced its earnings results on Thursday, August 11th. The company reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.01. The firm earned $881.70 million during the quarter, compared to analysts’ expectations of $881.43 million. Brinker International had a negative return on equity of 114.14% and a net margin of 6.16%. The company’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 EPS. Analysts forecast that Brinker International Inc. will post $3.47 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Friday, September 9th were issued a $0.34 dividend. This is a boost from Brinker International’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.70%. Brinker International’s payout ratio is 39.42%.
Several brokerages have weighed in on EAT. Argus reiterated a “hold” rating on shares of Brinker International in a research report on Thursday, August 18th. RBC Capital Markets reiterated a “sector perform” rating and issued a $55.00 price objective (up previously from $49.00) on shares of Brinker International in a research report on Saturday, August 13th. Canaccord Genuity began coverage on Brinker International in a research report on Monday, August 22nd. They issued a “hold” rating and a $56.00 price objective for the company. BMO Capital Markets reiterated a “hold” rating and issued a $47.00 price objective on shares of Brinker International in a research report on Thursday, September 1st. Finally, Barclays PLC boosted their price objective on Brinker International from $48.00 to $55.00 and gave the company an “equal weight” rating in a research report on Friday, August 12th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and nine have given a buy rating to the company. Brinker International currently has a consensus rating of “Hold” and an average target price of $53.83.
In other news, insider Krista M. Gibson sold 19,000 shares of Brinker International stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $53.27, for a total value of $1,012,130.00. Following the completion of the transaction, the insider now owns 37,225 shares in the company, valued at approximately $1,982,975.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Wyman Roberts sold 41,722 shares of Brinker International stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $53.00, for a total value of $2,211,266.00. Following the completion of the transaction, the insider now owns 114,746 shares of the company’s stock, valued at approximately $6,081,538. The disclosure for this sale can be found here. 2.27% of the stock is owned by insiders.
Brinker International Company Profile
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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