Metropolitan Life Insurance Co NY lowered its position in Brinker International, Inc. (NYSE:EAT) by 2.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,683 shares of the restaurant operator’s stock after selling 635 shares during the period. Metropolitan Life Insurance Co NY owned approximately 0.06% of Brinker International worth $962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Brinker International in the fourth quarter worth approximately $28,030,000. JPMorgan Chase & Co. raised its stake in Brinker International by 9.7% in the first quarter. JPMorgan Chase & Co. now owns 2,585,170 shares of the restaurant operator’s stock worth $114,731,000 after buying an additional 228,830 shares in the last quarter. Bessemer Group Inc. raised its stake in Brinker International by 26.1% in the fourth quarter. Bessemer Group Inc. now owns 973,223 shares of the restaurant operator’s stock worth $42,802,000 after buying an additional 201,431 shares in the last quarter. APG Asset Management N.V. raised its stake in Brinker International by 147.6% in the fourth quarter. APG Asset Management N.V. now owns 320,100 shares of the restaurant operator’s stock worth $12,315,000 after buying an additional 190,800 shares in the last quarter. Finally, Hodges Capital Management Inc. bought a new position in Brinker International in the first quarter worth approximately $7,910,000.
In other news, EVP Kelly C. Baltes acquired 800 shares of Brinker International stock in a transaction dated Wednesday, May 8th. The shares were acquired at an average cost of $42.05 per share, for a total transaction of $33,640.00. Following the acquisition, the executive vice president now owns 13,134 shares of the company’s stock, valued at $552,284.70. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.72% of the stock is currently owned by company insiders.
Brinker International (NYSE:EAT) last posted its quarterly earnings data on Tuesday, April 30th. The restaurant operator reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.06. The firm had revenue of $839.30 million during the quarter, compared to analysts’ expectations of $831.16 million. Brinker International had a net margin of 4.75% and a negative return on equity of 19.10%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company posted $1.08 EPS. Analysts anticipate that Brinker International, Inc. will post 3.92 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 7th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.84%. Brinker International’s payout ratio is 43.43%.
EAT has been the topic of several analyst reports. Evercore ISI initiated coverage on shares of Mondelez International in a report on Tuesday, June 11th. They issued an “outperform” rating and a $62.00 price target on the stock. UBS Group cut their price target on shares of PVH from $159.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. Zacks Investment Research lowered shares of Inflarx from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. reissued a “sell” rating and set a $18.00 price objective on shares of ABB in a report on Monday. Finally, ValuEngine raised shares of Westpac Banking from a “sell” rating to a “hold” rating in a report on Wednesday, May 22nd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $44.44.
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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