Quantessence Capital LLC Takes Position in Brinker International, Inc. (NYSE:EAT)

Quantessence Capital LLC acquired a new position in Brinker International, Inc. (NYSE:EAT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,954 shares of the restaurant operator's stock, valued at approximately $655,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Hennessy Advisors Inc. bought a new position in Brinker International in the fourth quarter worth approximately $81,888,000. Assenagon Asset Management S.A. increased its stake in shares of Brinker International by 2,612.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 588,594 shares of the restaurant operator's stock worth $77,865,000 after purchasing an additional 566,894 shares in the last quarter. Invesco Ltd. raised its holdings in Brinker International by 14.6% in the 4th quarter. Invesco Ltd. now owns 489,723 shares of the restaurant operator's stock worth $64,785,000 after purchasing an additional 62,265 shares during the period. Wedge Capital Management L L P NC lifted its position in Brinker International by 1,145.2% during the fourth quarter. Wedge Capital Management L L P NC now owns 416,044 shares of the restaurant operator's stock valued at $55,038,000 after purchasing an additional 382,633 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Brinker International by 5.4% during the fourth quarter. Principal Financial Group Inc. now owns 287,456 shares of the restaurant operator's stock valued at $38,028,000 after purchasing an additional 14,634 shares in the last quarter.

Insider Activity at Brinker International

In other news, Director Cindy L. Davis sold 5,802 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $187.86, for a total value of $1,089,963.72. Following the completion of the sale, the director now directly owns 11,107 shares of the company's stock, valued at $2,086,561.02. This trade represents a 34.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Douglas N. Comings sold 7,500 shares of Brinker International stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $167.10, for a total value of $1,253,250.00. Following the completion of the transaction, the chief operating officer now owns 26,752 shares of the company's stock, valued at approximately $4,470,259.20. This trade represents a 21.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,802 shares of company stock valued at $3,752,464. Insiders own 1.72% of the company's stock.

Analysts Set New Price Targets

EAT has been the topic of several recent research reports. KeyCorp downgraded Brinker International from an "overweight" rating to a "sector weight" rating and set a $115.00 price objective on the stock. in a research note on Friday, January 24th. Northcoast Research upgraded shares of Brinker International from a "neutral" rating to a "buy" rating and set a $215.00 target price on the stock in a research note on Thursday, January 30th. Wells Fargo & Company reduced their price objective on shares of Brinker International from $175.00 to $165.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. lifted their target price on shares of Brinker International from $140.00 to $160.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Finally, Citigroup cut their price target on Brinker International from $185.00 to $170.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Thirteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $142.53.

Brinker International Price Performance

Shares of EAT traded up $1.86 during mid-day trading on Friday, hitting $159.15. 1,331,481 shares of the stock were exchanged, compared to its average volume of 1,461,622. The company has a debt-to-equity ratio of 4.96, a quick ratio of 0.27 and a current ratio of 0.33. The company has a market cap of $7.07 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 0.49 and a beta of 2.21. Brinker International, Inc. has a 52-week low of $48.37 and a 52-week high of $192.22. The firm has a 50-day moving average of $148.27 and a two-hundred day moving average of $137.48.

Brinker International (NYSE:EAT - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The restaurant operator reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $1.43. Brinker International had a net margin of 5.45% and a return on equity of 879.47%. On average, equities analysts predict that Brinker International, Inc. will post 8.3 earnings per share for the current year.

About Brinker International

Brinker International, Inc, together with its subsidiaries, engages in the ownership, development, operation, and franchising of casual dining restaurants in the United States and internationally. It operates and franchises Chili's Grill & Bar and Maggiano's Little Italy restaurant brands.