Vident Investment Advisory LLC bought a new stake in Brinker International, Inc. (NYSE:EAT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,931 shares of the restaurant operator’s stock, valued at approximately $221,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Bruderman Asset Management LLC acquired a new stake in shares of Brinker International during the second quarter worth about $123,000. Profund Advisors LLC increased its stake in shares of Brinker International by 0.8% during the second quarter. Profund Advisors LLC now owns 6,849 shares of the restaurant operator’s stock worth $261,000 after buying an additional 57 shares during the period. Nomura Holdings Inc. purchased a new stake in shares of Brinker International during the second quarter worth approximately $262,000. Petrus Trust Company LTA increased its stake in shares of Brinker International by 27.0% during the second quarter. Petrus Trust Company LTA now owns 6,949 shares of the restaurant operator’s stock worth $265,000 after buying an additional 1,476 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Brinker International during the third quarter worth approximately $296,000.
In other Brinker International news, SVP Charles A. Lousignont sold 3,364 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $33.00, for a total value of $111,012.00. Following the completion of the sale, the senior vice president now owns 15,074 shares of the company’s stock, valued at $497,442. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Wyman Roberts sold 33,683 shares of the firm’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $37.88, for a total value of $1,275,912.04. Following the completion of the sale, the insider now directly owns 137,572 shares of the company’s stock, valued at approximately $5,211,227.36. The disclosure for this sale can be found here. 1.91% of the stock is owned by company insiders.
Brinker International (NYSE:EAT) last issued its quarterly earnings results on Wednesday, November 1st. The restaurant operator reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.01). Brinker International had a negative return on equity of 30.36% and a net margin of 4.39%. The company had revenue of $739.40 million for the quarter, compared to analyst estimates of $749.05 million. During the same period in the prior year, the business earned $0.49 earnings per share. Brinker International’s revenue for the quarter was down 2.5% compared to the same quarter last year. analysts anticipate that Brinker International, Inc. will post 3.22 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Friday, December 8th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Thursday, December 7th. Brinker International’s dividend payout ratio is presently 54.87%.
A number of analysts recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Brinker International in a research note on Monday, October 2nd. They set a “hold” rating and a $36.00 target price on the stock. BMO Capital Markets restated a “hold” rating on shares of Brinker International in a research note on Monday, November 6th. Canaccord Genuity reiterated a “hold” rating and issued a $40.00 price target on shares of Brinker International in a research note on Sunday, October 1st. Stephens dropped their price target on shares of Brinker International from $40.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 11th. Finally, Barclays dropped their price target on shares of Brinker International from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target 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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