Virginia Retirement Systems ET AL purchased a new position in Brinker International Inc. (NYSE:EAT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 24,400 shares of the company’s stock, valued at approximately $1,111,000.
Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Brinker International by 0.9% in the second quarter. Vanguard Group Inc. now owns 4,600,662 shares of the company’s stock worth $209,468,000 after buying an additional 42,116 shares during the period. Principal Financial Group Inc. raised its stake in Brinker International by 10.5% in the second quarter. Principal Financial Group Inc. now owns 217,061 shares of the company’s stock worth $9,882,000 after buying an additional 20,614 shares during the period. Prudential Financial Inc. raised its stake in Brinker International by 4.1% in the second quarter. Prudential Financial Inc. now owns 510,393 shares of the company’s stock worth $23,239,000 after buying an additional 20,057 shares during the period. Dimensional Fund Advisors LP raised its stake in Brinker International by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,129,834 shares of the company’s stock worth $51,443,000 after buying an additional 14,993 shares during the period. Finally, Systematic Financial Management LP bought a new stake in Brinker International during the second quarter worth about $1,686,000.
Brinker International Inc. (NYSE:EAT) opened at 50.43 on Friday. Brinker International Inc. has a one year low of $43.20 and a one year high of $55.16. The company has a market capitalization of $2.77 billion, a PE ratio of 14.75 and a beta of 0.32. The firm’s 50 day moving average price is $52.69 and its 200-day moving average price is $47.84.
Brinker International (NYSE:EAT) last announced its earnings results on Thursday, August 11th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.01. The company had revenue of $881.70 million for 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%. Brinker International’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 earnings per share. Equities analysts forecast that Brinker International Inc. will post $3.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Friday, September 9th were given a dividend of $0.34 per share. This is a boost from Brinker International’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, September 7th. This represents a $1.36 annualized dividend and a dividend yield of 2.70%. Brinker International’s payout ratio is presently 39.42%.
A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. reissued a “buy” rating and issued a $56.00 price target on shares of Brinker International in a research report on Wednesday. BMO Capital Markets reaffirmed a “hold” rating and set a $47.00 price objective on shares of Brinker International in a research report on Thursday, September 1st. Canaccord Genuity assumed coverage on shares of Brinker International in a research report on Monday, August 22nd. They set a “hold” rating and a $56.00 price objective on the stock. Argus reaffirmed a “hold” rating on shares of Brinker International in a research report on Thursday, August 18th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and set a $55.00 price objective (up previously from $49.00) on shares of Brinker International in a research report on Saturday, August 13th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have assigned a buy rating to the stock. Brinker International currently has a consensus rating of “Hold” and a consensus target price of $53.83.
In related news, 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 transaction of $2,211,266.00. Following the transaction, the insider now owns 114,746 shares of the company’s stock, valued at $6,081,538. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP David Roy Doyle sold 15,187 shares of Brinker International stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $54.32, for a total value of $824,957.84. Following the transaction, the senior vice president now directly owns 54,200 shares in the company, valued at approximately $2,944,144. The disclosure for this sale can be found here. Corporate insiders own 2.27% of the company’s stock.
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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