Rhumbline Advisers Grows Position in Brinker International, Inc. (EAT)

Rhumbline Advisers increased its position in shares of Brinker International, Inc. (NYSE:EAT) by 14.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 118,601 shares of the restaurant operator’s stock after purchasing an additional 14,868 shares during the quarter. Rhumbline Advisers owned 0.26% of Brinker International worth $3,779,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Profund Advisors LLC raised its position in Brinker International by 0.8% during the second quarter. Profund Advisors LLC now owns 6,849 shares of the restaurant operator’s stock valued at $261,000 after acquiring an additional 57 shares in the last quarter. Wedge Capital Management L L P NC raised its position in Brinker International by 1.3% during the second quarter. Wedge Capital Management L L P NC now owns 10,275 shares of the restaurant operator’s stock valued at $391,000 after acquiring an additional 135 shares in the last quarter. D.A. Davidson & CO. raised its position in Brinker International by 2.2% during the second quarter. D.A. Davidson & CO. now owns 7,832 shares of the restaurant operator’s stock valued at $298,000 after acquiring an additional 166 shares in the last quarter. Arizona State Retirement System raised its position in Brinker International by 1.5% during the second quarter. Arizona State Retirement System now owns 20,600 shares of the restaurant operator’s stock valued at $785,000 after acquiring an additional 300 shares in the last quarter. Finally, State Treasurer State of Michigan raised its position in Brinker International by 1.5% during the second quarter. State Treasurer State of Michigan now owns 20,177 shares of the restaurant operator’s stock valued at $769,000 after acquiring an additional 300 shares in the last quarter.

Shares of Brinker International, Inc. (NYSE:EAT) traded down $1.25 during trading on Thursday, hitting $37.69. The stock had a trading volume of 1,713,800 shares, compared to its average volume of 1,441,359. Brinker International, Inc. has a twelve month low of $29.50 and a twelve month high of $54.43. The firm has a market cap of $1,802.54, a price-to-earnings ratio of 12.32, a PEG ratio of 1.22 and a beta of 0.24. The company has a current ratio of 0.34, a quick ratio of 0.28 and a debt-to-equity ratio of -2.51.

Brinker International (NYSE:EAT) last announced its quarterly earnings results on Wednesday, November 1st. The restaurant operator reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.01). Brinker International had a net margin of 4.39% and a negative return on equity of 30.36%. The business had revenue of $739.40 million during the quarter, compared to analyst estimates of $749.05 million. During the same period last year, the company earned $0.49 EPS. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. research analysts expect that Brinker International, Inc. will post 3.22 earnings per share for the current year.

Brinker International announced that its Board of Directors has authorized a stock buyback program on Thursday, August 10th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to buy up to 14.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Friday, December 8th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.03%. The ex-dividend date is Thursday, December 7th. Brinker International’s payout ratio is 54.87%.

In other Brinker International news, insider Wyman Roberts sold 33,683 shares of the company’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $37.88, for a total transaction of $1,275,912.04. Following the sale, the insider now owns 137,572 shares in the company, valued at approximately $5,211,227.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Charles A. Lousignont sold 3,364 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $33.00, for a total value of $111,012.00. Following the sale, the senior vice president now owns 15,074 shares in the company, valued at approximately $497,442. The disclosure for this sale can be found here. 1.91% of the stock is currently owned by corporate insiders.

A number of analysts have recently commented on the company. Zacks Investment Research cut Brinker International from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Maxim Group restated a “buy” rating and issued a $49.00 price objective on shares of Brinker International in a research report on Tuesday, September 12th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $40.00 price target (down from $49.00) on shares of Brinker International in a research report on Wednesday, August 9th. Canaccord Genuity reiterated a “hold” rating and set a $40.00 price target on shares of Brinker International in a research report on Sunday, October 1st. Finally, BMO Capital Markets reiterated a “hold” rating on shares of Brinker International in a research report on Monday, November 6th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $40.50.

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About Brinker International

Brinker International, Inc is engaged in the ownership, operation, development, and franchising of the Chili’s Grill & Bar (Chili’s) and Maggiano’s Little Italy (Maggiano’s) restaurant brands. The Company’s Chili’s operates Bar & Grill category of casual dining. Chili’s menu features authentic Fresh Mex and Fresh Tex cuisine, including signature items, such as Baby Back Ribs smoked in-house, Hand-Crafted Burgers served with house-made garlic dill pickles, Mix and Match Fajitas, Tableside Guacamole and house-made Chips and Salsa.

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

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