Wedge Capital Management L L P NC cut its stake in shares of Brinker International, Inc. (NYSE:EAT) by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,076 shares of the restaurant operator’s stock after selling 274 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Brinker International were worth $213,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Voya Investment Management LLC grew its stake in shares of Brinker International by 3.1% during the 3rd quarter. Voya Investment Management LLC now owns 212,447 shares of the restaurant operator’s stock worth $9,065,000 after purchasing an additional 6,398 shares during the period. Tygh Capital Management Inc. acquired a new position in shares of Brinker International during the 3rd quarter worth $9,888,000. Man Group plc grew its stake in shares of Brinker International by 313.6% during the 3rd quarter. Man Group plc now owns 706,605 shares of the restaurant operator’s stock worth $30,152,000 after purchasing an additional 535,748 shares during the period. Convergence Investment Partners LLC grew its stake in shares of Brinker International by 71.9% during the 3rd quarter. Convergence Investment Partners LLC now owns 38,460 shares of the restaurant operator’s stock worth $1,641,000 after purchasing an additional 16,092 shares during the period. Finally, Maverick Capital Ltd. acquired a new position in shares of Brinker International during the 3rd quarter worth $9,421,000.
A number of equities analysts have recently weighed in on the stock. Stephens upped their price target on shares of Brinker International from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. UBS Group upped their price target on shares of Brinker International from $39.00 to $42.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Piper Jaffray Companies raised shares of Brinker International from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $39.00 to $54.00 in a research note on Thursday, October 31st. OTR Global raised shares of Brinker International from a “mixed” rating to a “positive” rating in a research note on Thursday, January 16th. Finally, Telsey Advisory Group increased their price objective on shares of Brinker International from $47.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $46.67.
Shares of NYSE EAT opened at $44.21 on Tuesday. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 1.36 and a beta of 0.24. Brinker International, Inc. has a 52 week low of $36.44 and a 52 week high of $49.28. The company’s 50-day moving average price is $42.54 and its 200 day moving average price is $41.68.
Brinker International (NYSE:EAT) last released its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.41 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. Brinker International had a net margin of 4.41% and a negative return on equity of 19.76%. The company had revenue of $786.00 million for the quarter, compared to analysts’ expectations of $802.16 million. During the same period last year, the company earned $0.47 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, analysts predict that Brinker International, Inc. will post 4.24 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Friday, December 6th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $1.52 annualized dividend and a dividend yield of 3.44%. Brinker International’s dividend payout ratio is currently 38.68%.
About Brinker International
Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants in the United States and internationally. As of June 27, 2018, it owned, operated, or franchised 1,686 restaurants comprising 997 company-owned restaurants and 689 franchised restaurants under the Chili's Grill & Bar and Maggiano's Little Italy brand names.
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