Brinker International, Inc. (EAT) Shares Bought by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA increased its stake in shares of Brinker International, Inc. (NYSE:EAT) by 87.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 109,883 shares of the restaurant operator’s stock after buying an additional 51,313 shares during the period. BNP Paribas Arbitrage SA owned about 0.22% of Brinker International worth $4,187,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of EAT. LS Investment Advisors LLC boosted its position in Brinker International by 18.7% in the first quarter. LS Investment Advisors LLC now owns 4,107 shares of the restaurant operator’s stock valued at $181,000 after buying an additional 647 shares in the last quarter. Kernodle & Katon Asset Management Group LLC boosted its position in Brinker International by 0.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 4,864 shares of the restaurant operator’s stock valued at $214,000 after buying an additional 17 shares in the last quarter. ING Groep NV bought a new position in Brinker International during the second quarter valued at approximately $227,000. Eqis Capital Management Inc. boosted its position in Brinker International by 0.3% in the first quarter. Eqis Capital Management Inc. now owns 6,393 shares of the restaurant operator’s stock valued at $281,000 after buying an additional 18 shares in the last quarter. Finally, Segantii Capital Management Ltd bought a new position in Brinker International during the first quarter valued at approximately $286,000.
Shares of Brinker International, Inc. (NYSE:EAT) opened at 32.32 on Friday. Brinker International, Inc. has a one year low of $31.82 and a one year high of $55.84. The company has a 50-day moving average of $35.26 and a 200-day moving average of $40.28. The company has a market capitalization of $1.58 billion, a PE ratio of 10.99 and a beta of 0.25.
Brinker International (NYSE:EAT) last released its quarterly earnings data on Thursday, August 10th. The restaurant operator reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.05. Brinker International had a net margin of 4.79% and a negative return on equity of 31.46%. The firm had revenue of $810.66 million for the quarter, compared to the consensus estimate of $809.94 million. During the same quarter in the prior year, the company posted $1.24 earnings per share. The business’s revenue was down 8.1% on a year-over-year basis. On average, analysts anticipate that Brinker International, Inc. will post $3.24 earnings per share for the current year.
Brinker International declared that its board has authorized a stock buyback program on Thursday, August 10th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the restaurant operator to reacquire up to 14.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 8th will be issued a dividend of $0.38 per share. This is an increase from Brinker International’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, September 7th. This represents a $1.52 annualized dividend and a yield of 4.70%. Brinker International’s dividend payout ratio is presently 45.48%.
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Several equities analysts have recently commented on the stock. Maxim Group restated a “buy” rating and set a $49.00 price target (down from $54.00) on shares of Brinker International in a report on Wednesday, August 9th. Royal Bank Of Canada restated a “sector perform” rating and set a $40.00 price target (down from $49.00) on shares of Brinker International in a report on Wednesday, August 9th. Barclays PLC lowered their price target on shares of Brinker International from $44.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, August 11th. Piper Jaffray Companies restated a “hold” rating on shares of Brinker International in a report on Friday, August 11th. Finally, BMO Capital Markets set a $36.00 price target on shares of Brinker International and gave the company a “hold” rating in a report on Saturday, August 12th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. Brinker International currently has an average rating of “Hold” and a consensus target price of $45.67.
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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