Bank of America Corp DE Sells 591,032 Shares of Brinker International, Inc. (NYSE:EAT)

Bank of America Corp DE decreased its holdings in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 70.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 249,553 shares of the restaurant operator's stock after selling 591,032 shares during the period. Bank of America Corp DE owned approximately 0.56% of Brinker International worth $33,013,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Ritholtz Wealth Management increased its holdings in Brinker International by 64.5% in the fourth quarter. Ritholtz Wealth Management now owns 13,583 shares of the restaurant operator's stock valued at $1,797,000 after purchasing an additional 5,325 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in shares of Brinker International during the 4th quarter worth about $81,888,000. Wedge Capital Management L L P NC increased its stake in shares of Brinker International by 1,145.2% in the 4th 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 acquiring an additional 382,633 shares during the last quarter. Atomi Financial Group Inc. acquired a new stake in shares of Brinker International in the 4th quarter valued at approximately $304,000. Finally, DGS Capital Management LLC acquired a new stake in shares of Brinker International in the 4th quarter valued at approximately $242,000.

Insider Transactions at Brinker International

In related news, Director Ramona Hood sold 777 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $135.23, for a total transaction of $105,073.71. Following the sale, the director now owns 8,568 shares in the company, valued at approximately $1,158,650.64. This represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Douglas N. Comings sold 2,350 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $135.91, for a total value of $319,388.50. Following the transaction, the chief operating officer now directly owns 20,591 shares of the company's stock, valued at $2,798,522.81. This trade represents a 10.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.72% of the stock is currently owned by insiders.

Brinker International Stock Up 1.5%

Shares of EAT stock traded up $2.15 on Thursday, hitting $146.02. 104,721 shares of the stock were exchanged, compared to its average volume of 1,485,468. The company has a current ratio of 0.33, a quick ratio of 0.27 and a debt-to-equity ratio of 4.96. The firm has a market capitalization of $6.49 billion, a P/E ratio of 25.25, a price-to-earnings-growth ratio of 0.49 and a beta of 1.66. Brinker International, Inc. has a fifty-two week low of $56.27 and a fifty-two week high of $192.22. The business has a 50-day moving average of $145.63 and a 200 day moving average of $143.21.

Brinker International (NYSE:EAT - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The restaurant operator reported $2.66 earnings per share for the quarter, topping analysts' consensus estimates of $2.48 by $0.18. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.38 billion. Brinker International had a return on equity of 879.47% and a net margin of 5.45%. The business's revenue was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 EPS. Equities analysts anticipate that Brinker International, Inc. will post 8.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EAT shares. Citigroup decreased their price objective on shares of Brinker International from $185.00 to $170.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. KeyCorp lowered shares of Brinker International from an "overweight" rating to a "sector weight" rating and set a $115.00 price target for the company. in a report on Friday, January 24th. JPMorgan Chase & Co. upped their price objective on shares of Brinker International from $140.00 to $160.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. Wells Fargo & Company reduced their target price on Brinker International from $165.00 to $150.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Finally, Stifel Nicolaus increased their price target on Brinker International from $155.00 to $170.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Thirteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $141.14.

Brinker International Company Profile

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.