Acadian Asset Management LLC Buys New Position in Brinker International, Inc. $EAT

Key Points

• Acadian Asset Management LLC purchased 10,583 shares of Brinker International, Inc., valued at approximately $1.576 million, indicating strong interest from institutional investors.
• Brinker International reported earnings of $2.49 per share, surpassing analysts' expectations and reflecting a revenue increase of 21% from the previous year.
• Despite positive earnings, Brinker International's stock has fallen by 5.7% recently, with a current market cap of $6.41 billion and a P/E ratio of 17.34.

Acadian Asset Management LLC acquired a new position in Brinker International, Inc. (NYSE:EAT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,583 shares of the restaurant operator's stock, valued at approximately $1,576,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Mackenzie Financial Corp raised its stake in Brinker International by 4.2% in the 1st quarter. Mackenzie Financial Corp now owns 2,933 shares of the restaurant operator's stock valued at $437,000 after purchasing an additional 119 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Brinker International by 575.0% during the first quarter. Farther Finance Advisors LLC now owns 189 shares of the restaurant operator's stock worth $29,000 after acquiring an additional 161 shares during the last quarter. National Bank of Canada FI lifted its holdings in Brinker International by 227.3% during the 1st quarter. National Bank of Canada FI now owns 252 shares of the restaurant operator's stock worth $38,000 after buying an additional 175 shares during the last quarter. Evergreen Capital Management LLC increased its position in Brinker International by 5.7% in the 1st quarter. Evergreen Capital Management LLC now owns 3,615 shares of the restaurant operator's stock valued at $539,000 after acquiring an additional 194 shares during the period. Finally, Financial Management Professionals Inc. acquired a new stake in Brinker International during the first quarter valued at $30,000.

Insiders Place Their Bets

In other Brinker International news, COO Douglas N. Comings sold 16,000 shares of the firm's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $156.48, for a total transaction of $2,503,680.00. Following the sale, the chief operating officer directly owned 12,951 shares of the company's stock, valued at $2,026,572.48. This trade represents a 55.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin Hochman sold 44,000 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $157.82, for a total transaction of $6,944,080.00. Following the transaction, the chief executive officer directly owned 212,867 shares of the company's stock, valued at approximately $33,594,669.94. This represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,325 shares of company stock worth $10,754,785. 1.72% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on EAT shares. Wall Street Zen lowered Brinker International from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. BMO Capital Markets lifted their price objective on shares of Brinker International from $150.00 to $170.00 and gave the stock a "market perform" rating in a report on Thursday, August 14th. Barclays increased their price target on shares of Brinker International from $166.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 14th. Piper Sandler raised their target price on shares of Brinker International from $155.00 to $168.00 and gave the company a "neutral" rating in a research report on Thursday, August 14th. Finally, UBS Group upped their price objective on shares of Brinker International from $155.00 to $165.00 and gave the company a "neutral" rating in a report on Thursday, August 14th. Five investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $172.59.

Brinker International Trading Down 2.0%

NYSE:EAT traded down $2.83 during trading hours on Friday, hitting $136.04. 2,374,566 shares of the company were exchanged, compared to its average volume of 1,178,672. The company has a current ratio of 0.31, a quick ratio of 0.25 and a debt-to-equity ratio of 1.15. The company has a fifty day simple moving average of $156.23 and a 200 day simple moving average of $156.12. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 0.88 and a beta of 1.43. Brinker International, Inc. has a one year low of $74.73 and a one year high of $192.21.

Brinker International (NYSE:EAT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The restaurant operator reported $2.49 EPS for the quarter, beating the consensus estimate of $2.47 by $0.02. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.42 billion. Brinker International had a net margin of 7.12% and a return on equity of 211.86%. The company's quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.61 earnings per share. Brinker International has set its FY 2026 guidance at 9.900-10.50 EPS. Sell-side analysts expect that Brinker International, Inc. will post 8.3 EPS for the current fiscal 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.