Wedge Capital Management L L P NC cut its stake in shares of Brinker International, Inc. (NYSE:EAT) by 21.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,350 shares of the restaurant operator’s stock after selling 1,424 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Brinker International were worth $228,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. boosted its stake in Brinker International by 48,525.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 1,945 shares of the restaurant operator’s stock worth $83,000 after acquiring an additional 1,941 shares in the last quarter. North Star Investment Management Corp. bought a new position in Brinker International during the third quarter worth $159,000. Quantamental Technologies LLC bought a new position in Brinker International during the second quarter worth $173,000. Janney Montgomery Scott LLC bought a new position in Brinker International during the second quarter worth $219,000. Finally, Wealthstreet Investment Advisors LLC bought a new position in Brinker International during the third quarter worth $228,000.
NYSE EAT traded down $0.41 during trading hours on Friday, reaching $46.08. 637,799 shares of the company were exchanged, compared to its average volume of 1,054,208. Brinker International, Inc. has a 1 year low of $36.44 and a 1 year high of $53.61. The business’s 50 day simple moving average is $42.71 and its 200-day simple moving average is $40.70. The stock has a market capitalization of $1.74 billion, a P/E ratio of 11.73, a P/E/G ratio of 1.71 and a beta of 0.26.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Friday, December 6th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, December 5th. This represents a $1.52 dividend on an annualized basis and a yield of 3.30%. Brinker International’s dividend payout ratio (DPR) is presently 38.68%.
EAT has been the topic of several research reports. Deutsche Bank restated a “hold” rating and set a $43.00 price objective on shares of Brinker International in a report on Monday, November 4th. Zacks Investment Research downgraded shares of Brinker International from a “buy” rating to a “hold” rating and set a $45.00 price objective on the stock. in a report on Wednesday, September 11th. Piper Jaffray Companies upgraded shares of Brinker International from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $39.00 to $54.00 in a report on Thursday, October 31st. DA Davidson initiated coverage on shares of Brinker International in a report on Friday, September 27th. They issued a “buy” rating for the company. Finally, MKM Partners initiated coverage on shares of Brinker International in a report on Thursday, September 26th. They issued a “buy” rating and a $52.00 target price for the company. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the stock. Brinker International currently has a consensus rating of “Hold” and an average target price of $46.72.
In related news, EVP Steve Provost sold 11,419 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $40.00, for a total transaction of $456,760.00. Following the completion of the sale, the executive vice president now owns 42,321 shares in the company, valued at $1,692,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michaela M. Ware sold 968 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $39.41, for a total transaction of $38,148.88. Following the sale, the vice president now owns 9,973 shares of the company’s stock, valued at approximately $393,035.93. The disclosure for this sale can be found here. Insiders have sold 13,112 shares of company stock valued at $523,720 in the last 90 days. 3.51% of the stock is currently owned by corporate insiders.
Brinker International Profile
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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