The Manufacturers Life Insurance Company grew its holdings in shares of Brinker International, Inc. (NYSE:EAT) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110,556 shares of the restaurant operator’s stock after purchasing an additional 3,134 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Brinker International were worth $4,294,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Trust Advisors LP increased its position in shares of Brinker International by 170.2% during the 4th quarter. First Trust Advisors LP now owns 68,355 shares of the restaurant operator’s stock valued at $2,655,000 after purchasing an additional 43,056 shares during the last quarter. Retirement Systems of Alabama increased its position in shares of Brinker International by 143.1% during the 4th quarter. Retirement Systems of Alabama now owns 153,456 shares of the restaurant operator’s stock valued at $5,960,000 after purchasing an additional 90,320 shares during the last quarter. New Mexico Educational Retirement Board purchased a new stake in shares of Brinker International during the 4th quarter valued at about $447,000. Old Mutual Global Investors UK Ltd. increased its position in shares of Brinker International by 88.0% during the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 28,489 shares of the restaurant operator’s stock valued at $1,106,000 after purchasing an additional 13,333 shares during the last quarter. Finally, Capital One National Association purchased a new stake in shares of Brinker International during the 4th quarter valued at about $2,597,000.
In other Brinker International news, VP Michaela M. Ware sold 830 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $34.08, for a total value of $28,286.40. Following the completion of the transaction, the vice president now directly owns 8,181 shares in the company, valued at approximately $278,808.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andres Tinajero sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $0.57, for a total value of $114,000.00. Corporate insiders own 1.91% of the company’s stock.
Brinker International (NYSE:EAT) last posted its quarterly earnings results on Tuesday, January 30th. The restaurant operator reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.15. Brinker International had a negative return on equity of 30.98% and a net margin of 4.10%. The business had revenue of $766.40 million during the quarter, compared to the consensus estimate of $773.84 million. During the same period in the prior year, the company posted $0.71 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. research analysts predict that Brinker International, Inc. will post 3.43 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, March 9th will be paid a $0.38 dividend. The ex-dividend date is Thursday, March 8th. This represents a $1.52 annualized dividend and a yield of 4.12%. Brinker International’s payout ratio is 58.02%.
A number of brokerages recently issued reports on EAT. Barclays boosted their price objective on Brinker International from $41.00 to $42.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Zacks Investment Research downgraded Brinker International from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Canaccord Genuity reiterated a “hold” rating and set a $40.00 price objective on shares of Brinker International in a research note on Thursday, December 21st. Maxim Group reiterated a “buy” rating and set a $52.00 price objective (up from $49.00) on shares of Brinker International in a research note on Thursday, January 25th. Finally, ValuEngine downgraded Brinker International from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. Brinker International currently has an average rating of “Hold” and a consensus price target of $41.08.
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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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