AE Wealth Management LLC Acquires New Shares in Brinker International, Inc. (NYSE:EAT)

AE Wealth Management LLC acquired a new position in Brinker International, Inc. (NYSE:EAT - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,291 shares of the restaurant operator's stock, valued at approximately $341,000.

Other large investors also recently modified their holdings of the company. Convergence Investment Partners LLC acquired a new stake in Brinker International in the first quarter valued at $773,000. KLP Kapitalforvaltning AS raised its holdings in Brinker International by 3.4% in the first quarter. KLP Kapitalforvaltning AS now owns 9,200 shares of the restaurant operator's stock valued at $1,371,000 after acquiring an additional 300 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Brinker International in the first quarter valued at $2,659,000. Allianz Asset Management GmbH acquired a new stake in Brinker International in the first quarter valued at $509,000. Finally, Archer Investment Corp acquired a new stake in Brinker International in the first quarter valued at $127,000.

Insiders Place Their Bets

In other news, Director Joseph Michael Depinto sold 10,000 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $170.36, for a total value of $1,703,600.00. Following the transaction, the director owned 99,297 shares in the company, valued at $16,916,236.92. This represents a 9.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Douglas N. Comings sold 2,350 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $135.91, for a total transaction of $319,388.50. Following the completion of the sale, the chief operating officer directly owned 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. In the last ninety days, insiders sold 13,127 shares of company stock worth $2,128,062. 1.72% of the stock is currently owned by company insiders.

Brinker International Trading Down 1.2%

Shares of Brinker International stock traded down $1.89 during trading on Friday, hitting $155.71. The stock had a trading volume of 1,455,976 shares, compared to its average volume of 1,259,940. The company has a quick ratio of 0.23, a current ratio of 0.28 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $6.92 billion, a PE ratio of 21.48, a P/E/G ratio of 0.37 and a beta of 1.68. Brinker International, Inc. has a 1 year low of $56.27 and a 1 year high of $192.21. The stock has a 50 day simple moving average of $170.31 and a 200 day simple moving average of $157.78.

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 (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the business earned $1.24 EPS. The company's revenue was up 27.2% on a year-over-year basis. On average, research analysts expect that Brinker International, Inc. will post 8.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on EAT. Barclays increased their target price on shares of Brinker International from $155.00 to $166.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. increased their price objective on shares of Brinker International from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Wednesday, June 25th. Morgan Stanley increased their price objective on shares of Brinker International from $144.00 to $149.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Wells Fargo & Company increased their price objective on shares of Brinker International from $150.00 to $165.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Finally, Bank of America increased their price objective on shares of Brinker International from $185.00 to $186.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Thirteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus 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.