Neo Ivy Capital Management Purchases New Stake in Brinker International, Inc. (NYSE:EAT)

Key Points

• Neo Ivy Capital Management acquired 3,458 shares of Brinker International, valued at approximately $515,000, as revealed in their Form 13F filing.
• Brinker International's stock performance highlighted significant **institutional activity**, with organizations like Price T Rowe Associates and Balyasny Asset Management also increasing their stakes in the company.
• The company's latest earnings report showed **earnings per share (EPS)** of $2.66, surpassing analyst expectations, and a revenue of $1.43 billion, marking a 27.2% increase year-over-year.

Neo Ivy Capital Management bought a new position in Brinker International, Inc. (NYSE:EAT - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 3,458 shares of the restaurant operator's stock, valued at approximately $515,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AdvisorShares Investments LLC grew its position in Brinker International by 4.4% in the 4th quarter. AdvisorShares Investments LLC now owns 2,131 shares of the restaurant operator's stock worth $282,000 after purchasing an additional 89 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in Brinker International by 3.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,509 shares of the restaurant operator's stock valued at $596,000 after acquiring an additional 148 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Brinker International by 575.0% during the first quarter. Farther Finance Advisors LLC now owns 189 shares of the restaurant operator's stock valued at $29,000 after purchasing an additional 161 shares during the period. Coppell Advisory Solutions LLC purchased a new position in shares of Brinker International in the fourth quarter valued at about $26,000. Finally, Financial Management Professionals Inc. purchased a new position in Brinker International during the 1st quarter valued at about $30,000.

Insiders Place Their Bets

In related news, Director Joseph Michael Depinto sold 10,000 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $170.36, for a total transaction of $1,703,600.00. Following the completion of the sale, the director directly owned 99,297 shares of the company's stock, valued at $16,916,236.92. This trade represents a 9.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ramona Hood sold 777 shares of the 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 transaction, the director directly owned 8,568 shares of the company's stock, valued at $1,158,650.64. This represents a 8.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,127 shares of company stock valued at $2,128,062 over the last quarter. Company insiders own 1.72% of the company's stock.

Brinker International Stock Performance

EAT stock traded up $5.38 during midday trading on Wednesday, hitting $164.85. 436,236 shares of the stock traded hands, compared to its average volume of 1,493,435. The stock's fifty day simple moving average is $169.70 and its 200-day simple moving average is $157.59. The firm has a market cap of $7.33 billion, a P/E ratio of 22.74, a PEG ratio of 0.37 and a beta of 1.70. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.28 and a quick ratio of 0.23. Brinker International, Inc. has a 1-year low of $56.27 and a 1-year high of $192.21.

Brinker International (NYSE:EAT - Get Free Report) last announced its earnings results on Tuesday, April 29th. The restaurant operator reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.18. Brinker International had a net margin of 6.50% and a return on equity of 333.03%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the firm posted $1.24 earnings per share. Brinker International's revenue was up 27.2% compared to the same quarter last year. On average, analysts expect that Brinker International, Inc. will post 8.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Brinker International from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Wednesday, June 25th. Stifel Nicolaus increased their price target on shares of Brinker International from $200.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Citigroup cut their price objective on shares of Brinker International from $185.00 to $170.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Bank of America increased their target price on Brinker International from $185.00 to $186.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Finally, Barclays increased their price target on shares of Brinker International from $155.00 to $166.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Thirteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $156.41.

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.