Wedge Capital Management L L P NC Has $228,000 Position in Brinker International, Inc. (NYSE:EAT)

Wedge Capital Management L L P NC reduced its holdings in Brinker International, Inc. (NYSE:EAT) by 21.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,350 shares of the restaurant operator’s stock after selling 1,424 shares during the period. Wedge Capital Management L L P NC’s holdings in Brinker International were worth $228,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of EAT. Arizona State Retirement System grew its position in shares of Brinker International by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 27,217 shares of the restaurant operator’s stock valued at $1,071,000 after acquiring an additional 290 shares during the period. State of Tennessee Treasury Department grew its position in shares of Brinker International by 4.4% in the 3rd quarter. State of Tennessee Treasury Department now owns 13,275 shares of the restaurant operator’s stock valued at $566,000 after acquiring an additional 557 shares during the period. Bank of Montreal Can grew its position in shares of Brinker International by 1.9% in the 2nd quarter. Bank of Montreal Can now owns 31,889 shares of the restaurant operator’s stock valued at $1,255,000 after acquiring an additional 605 shares during the period. Alpha Windward LLC grew its position in shares of Brinker International by 8.0% in the 2nd quarter. Alpha Windward LLC now owns 11,280 shares of the restaurant operator’s stock valued at $459,000 after acquiring an additional 840 shares during the period. Finally, Jennison Associates LLC grew its position in shares of Brinker International by 5.4% in the 2nd quarter. Jennison Associates LLC now owns 19,647 shares of the restaurant operator’s stock valued at $773,000 after acquiring an additional 998 shares during the period.

EAT has been the subject of a number of analyst reports. Deutsche Bank reissued a “hold” rating and issued a $43.00 price objective on shares of Brinker International in a research report on Monday, November 4th. Maxim Group reissued a “buy” rating and issued a $58.00 price objective on shares of Brinker International in a research report on Friday, August 16th. DA Davidson initiated coverage on shares of Brinker International in a research report on Friday, September 27th. They issued a “buy” rating for the company. Citigroup decreased their price objective on shares of Brinker International from $52.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Finally, Telsey Advisory Group lifted their target price on shares of Brinker International from $47.00 to $54.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.72.

NYSE EAT traded down $0.41 during trading on Friday, reaching $46.08. The company’s stock had a trading volume of 637,799 shares, compared to its average volume of 1,054,208. The firm has a 50 day moving average price of $42.71 and a 200 day moving average price of $40.70. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 1.71 and a beta of 0.26. Brinker International, Inc. has a 12 month low of $36.44 and a 12 month high of $53.61.

Brinker International (NYSE:EAT) last issued its earnings results on Wednesday, October 30th. The restaurant operator reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. The company had revenue of $786.00 million during the quarter, compared to analysts’ expectations of $802.16 million. Brinker International had a net margin of 4.41% and a negative return on equity of 19.76%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 EPS. As a group, research analysts anticipate that Brinker International, Inc. will post 4.24 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Friday, December 6th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Thursday, December 5th. Brinker International’s payout ratio is presently 38.68%.

In other news, SVP Wade Allen sold 725 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $39.74, for a total value of $28,811.50. Following the completion of the transaction, the senior vice president now directly owns 6,481 shares in the company, valued at approximately $257,554.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelly C. Baltes bought 850 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was purchased at an average price of $38.00 per share, with a total value of $32,300.00. Following the completion of the transaction, the executive vice president now directly owns 13,984 shares in the company, valued at approximately $531,392. The disclosure for this purchase can be found here. Insiders sold a total of 13,112 shares of company stock valued at $523,720 over the last 90 days. Corporate insiders own 3.51% of the company’s stock.

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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