Kepos Capital LP Purchases Shares of 76,778 Brinker International, Inc. (EAT)

Kepos Capital LP purchased a new stake in Brinker International, Inc. (NYSE:EAT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 76,778 shares of the restaurant operator’s stock, valued at approximately $3,588,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EAT. Dimensional Fund Advisors LP lifted its holdings in Brinker International by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,310,802 shares of the restaurant operator’s stock worth $62,397,000 after purchasing an additional 5,541 shares during the last quarter. Contrarius Investment Management Ltd lifted its holdings in Brinker International by 61.1% in the 2nd quarter. Contrarius Investment Management Ltd now owns 1,116,833 shares of the restaurant operator’s stock worth $53,161,000 after purchasing an additional 423,705 shares during the last quarter. Millennium Management LLC lifted its holdings in Brinker International by 2,460.9% in the 2nd quarter. Millennium Management LLC now owns 576,652 shares of the restaurant operator’s stock worth $27,449,000 after purchasing an additional 601,077 shares during the last quarter. Copper Rock Capital Partners LLC acquired a new stake in Brinker International in the 3rd quarter worth approximately $23,778,000. Finally, Point72 Asset Management L.P. lifted its holdings in Brinker International by 398.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 414,947 shares of the restaurant operator’s stock worth $19,751,000 after purchasing an additional 331,705 shares during the last quarter.

Shares of NYSE:EAT opened at $51.08 on Monday. Brinker International, Inc. has a fifty-two week low of $32.03 and a fifty-two week high of $54.14. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 1.53 and a beta of 0.02.

Brinker International (NYSE:EAT) last announced its quarterly earnings results on Tuesday, October 30th. The restaurant operator reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. Brinker International had a negative return on equity of 23.89% and a net margin of 4.52%. The firm had revenue of $753.80 million for the quarter, compared to analysts’ expectations of $756.40 million. During the same period in the prior year, the business posted $0.42 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that Brinker International, Inc. will post 3.76 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Friday, December 7th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Thursday, December 6th. Brinker International’s dividend payout ratio (DPR) is 43.43%.

Several research firms recently weighed in on EAT. Barclays reduced their target price on Brinker International from $50.00 to $48.00 and set an “equal weight” rating for the company in a report on Thursday. BMO Capital Markets set a $43.00 price target on Brinker International and gave the stock a “hold” rating in a report on Tuesday, August 14th. Wells Fargo & Co upped their price target on Brinker International from $42.00 to $43.00 and gave the stock a “market perform” rating in a report on Monday, August 13th. Maxim Group reiterated a “buy” rating and set a $55.00 price target on shares of Brinker International in a report on Tuesday, October 30th. Finally, TheStreet lowered Brinker International from a “b-” rating to a “c” rating in a report on Wednesday, August 15th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Brinker International currently has an average rating of “Hold” and a consensus target price of $46.06.

In other news, SVP Wade Allen sold 1,998 shares of the stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $45.13, for a total transaction of $90,169.74. Following the sale, the senior vice president now owns 8,479 shares in the company, valued at $382,657.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelli Valade sold 4,905 shares of the stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $43.37, for a total value of $212,729.85. Following the sale, the executive vice president now owns 74,068 shares in the company, valued at approximately $3,212,329.16. The disclosure for this sale can be found here. Insiders have sold 60,444 shares of company stock worth $2,904,925 in the last 90 days. Company insiders own 2.72% of the company’s stock.

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

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