215,167 Brinker International, Inc. $EAT Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Brinker International stake by 87.3% in the third quarter, selling 215,167 shares and retaining 31,216 shares valued at approximately $6.0 million.
• Brinker reported quarterly revenue of $1.54 billion, up 5.1% year over year, but earnings of $3.07 per share narrowly missed analysts’ $3.09 estimate. The company issued fiscal 2027 EPS guidance of $12.60–$13.40.
• Insiders sold 173,694 shares worth about $41.6 million over the past 90 days, while analysts maintained a “Moderate Buy” consensus rating with an average price target of $248.76.

Assenagon Asset Management S.A. decreased its position in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 87.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,216 shares of the restaurant operator's stock after selling 215,167 shares during the quarter. Assenagon Asset Management S.A. owned 0.07% of Brinker International worth $6,041,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of EAT. Deutsche Bank AG raised its position in Brinker International by 18.0% during the second quarter. Deutsche Bank AG now owns 63,795 shares of the restaurant operator's stock valued at $10,718,000 after purchasing an additional 9,733 shares in the last quarter. Callan Family Office LLC acquired a new position in shares of Brinker International during the 2nd quarter worth $2,258,000. Wealth High Governance Capital Ltda acquired a new position in shares of Brinker International during the 2nd quarter worth $3,710,000. Bank of America Corp DE raised its holdings in shares of Brinker International by 37.7% during the 1st quarter. Bank of America Corp DE now owns 242,648 shares of the restaurant operator's stock worth $34,643,000 after buying an additional 66,383 shares in the last quarter. Finally, Cynosure Group LLC bought a new stake in shares of Brinker International during the 2nd quarter worth $766,000.

Insider Activity

In other news, EVP George Felix sold 14,349 shares of the firm's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $237.47, for a total value of $3,407,457.03. Following the completion of the sale, the executive vice president directly owned 6,293 shares in the company, valued at $1,494,398.71. This trade represents a 69.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Aaron White sold 16,220 shares of the business's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $236.22, for a total value of $3,831,488.40. Following the completion of the sale, the executive vice president directly owned 42,756 shares of the company's stock, valued at $10,099,822.32. The trade was a 27.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 173,694 shares of company stock valued at $41,568,690. Corporate insiders own 1.18% of the company's stock.

Brinker International Stock Performance

Shares of EAT stock opened at $195.46 on Wednesday. The business's 50 day simple moving average is $215.41 and its 200 day simple moving average is $181.98. Brinker International, Inc. has a one year low of $100.30 and a one year high of $254.99. The stock has a market capitalization of $8.16 billion, a PE ratio of 17.95, a PEG ratio of 1.03 and a beta of 1.25. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.45 and a quick ratio of 0.40.

Brinker International (NYSE:EAT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The restaurant operator reported $3.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.09 by ($0.02). Brinker International had a return on equity of 122.35% and a net margin of 8.39%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the firm posted $2.30 EPS. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. Brinker International has set its FY 2027 guidance at 12.600-13.400 EPS. As a group, research analysts forecast that Brinker International, Inc. will post 13.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EAT. Bank of America raised their price target on shares of Brinker International from $224.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, August 14th. DA Davidson decreased their price target on shares of Brinker International from $240.00 to $210.00 and set a "neutral" rating on the stock in a report on Monday, September 21st. Piper Sandler upped their price objective on shares of Brinker International from $166.00 to $240.00 and gave the stock a "neutral" rating in a research report on Monday, August 17th. Citigroup cut their price objective on Brinker International from $282.00 to $270.00 and set a "buy" rating on the stock in a report on Monday. Finally, Freedom Broker raised Brinker International to a "strong-buy" rating in a report on Friday, September 18th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $248.76.

About Brinker International

Brinker International, Inc is a casual-dining restaurant company that owns, operates and franchises restaurants in the United States and select international markets. The company is headquartered in Dallas, Texas, and serves customers through company-operated and franchised locations.

Brinker's principal brands are Chili's Grill & Bar and Maggiano's Little Italy. Chili's offers a broad menu of burgers, steaks, ribs, fajitas, Tex-Mex dishes, salads and beverages in a full-service, casual setting.

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