Brinker International, Inc. (NYSE:EAT) Shares Sold by Sit Investment Associates Inc.

Sit Investment Associates Inc. cut its position in Brinker International, Inc. (NYSE:EAT) by 52.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,150 shares of the restaurant operator’s stock after selling 13,500 shares during the period. Sit Investment Associates Inc.’s holdings in Brinker International were worth $463,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Aperio Group LLC boosted its position in Brinker International by 3.1% in the second quarter. Aperio Group LLC now owns 69,873 shares of the restaurant operator’s stock worth $2,662,000 after buying an additional 2,082 shares during the last quarter. Alpha Windward LLC boosted its position in Brinker International by 1,856.2% in the second quarter. Alpha Windward LLC now owns 11,698 shares of the restaurant operator’s stock worth $446,000 after buying an additional 11,100 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in Brinker International by 4.1% in the second quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the restaurant operator’s stock worth $488,000 after buying an additional 500 shares during the last quarter. LS Investment Advisors LLC boosted its position in Brinker International by 14.2% in the second quarter. LS Investment Advisors LLC now owns 4,689 shares of the restaurant operator’s stock worth $179,000 after buying an additional 582 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in Brinker International by 3.9% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,329 shares of the restaurant operator’s stock worth $775,000 after buying an additional 765 shares during the last quarter.

Brinker International, Inc. (NYSE EAT) traded down 1.49% on Friday, reaching $33.83. The company’s stock had a trading volume of 971,165 shares. The firm has a 50-day moving average of $35.94 and a 200-day moving average of $40.68. Brinker International, Inc. has a one year low of $33.41 and a one year high of $55.84. The company has a market capitalization of $1.65 billion, a PE ratio of 11.51 and a beta of 0.25.

Brinker International (NYSE:EAT) last released its quarterly earnings results on Thursday, August 10th. The restaurant operator reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.05. Brinker International had a negative return on equity of 31.46% and a net margin of 4.79%. The company had revenue of $810.66 million during the quarter, compared to analyst estimates of $809.94 million. During the same quarter last year, the business posted $1.24 earnings per share. The firm’s revenue was down 8.1% on a year-over-year basis. Analysts predict that Brinker International, Inc. will post $3.24 EPS for the current year.

Brinker International declared that its Board of Directors has initiated a stock buyback plan on Thursday, August 10th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the restaurant operator to reacquire up to 14.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 8th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.49%. The ex-dividend date is Thursday, September 7th. This is a positive change from Brinker International’s previous quarterly dividend of $0.34. Brinker International’s payout ratio is 45.48%.

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A number of equities analysts have recently issued reports on the company. BMO Capital Markets set a $36.00 price objective on Brinker International and gave the stock a “hold” rating in a report on Saturday, August 12th. Piper Jaffray Companies reiterated a “hold” rating on shares of Brinker International in a report on Friday, August 11th. Barclays PLC cut their price objective on Brinker International from $44.00 to $41.00 and set an “equal weight” rating for the company in a report on Friday, August 11th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $40.00 price objective (down from $49.00) on shares of Brinker International in a report on Wednesday, August 9th. Finally, Maxim Group reiterated a “buy” rating and issued a $49.00 price objective (down from $54.00) on shares of Brinker International in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus 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.

Institutional Ownership by Quarter for Brinker International (NYSE:EAT)

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