Algert Global LLC Has $4.56 Million Holdings in Brinker International, Inc. $EAT

Key Points

• Algert Global LLC increased its holdings in Brinker International, Inc. by 32.9% during the first quarter, now owning 30,609 shares valued at approximately $4.56 million.
• The company posted a quarterly earnings per share of $2.49, exceeding expectations, with a revenue increase of 21.0% year-over-year to $1.46 billion.
• Analyst ratings for Brinker International show a mix, with recent upgrades from Barclays and Morgan Stanley, while Wall Street Zen downgraded the stock from "strong-buy" to "buy," reflecting varying market sentiments.

Algert Global LLC grew its holdings in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 32.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,609 shares of the restaurant operator's stock after acquiring an additional 7,580 shares during the quarter. Algert Global LLC owned 0.07% of Brinker International worth $4,562,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Coppell Advisory Solutions LLC bought a new stake in shares of Brinker International during the 4th quarter valued at approximately $26,000. Farther Finance Advisors LLC boosted its position in Brinker International by 575.0% in the first quarter. Farther Finance Advisors LLC now owns 189 shares of the restaurant operator's stock valued at $29,000 after buying an additional 161 shares in the last quarter. Financial Management Professionals Inc. acquired a new stake in Brinker International in the first quarter valued at approximately $30,000. Continuum Advisory LLC grew its stake in shares of Brinker International by 1,714.3% during the first quarter. Continuum Advisory LLC now owns 254 shares of the restaurant operator's stock worth $38,000 after buying an additional 240 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Brinker International by 227.3% during the first 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 in the last quarter.

Insider Buying and Selling

In other Brinker International news, Director Joseph Michael Depinto sold 10,000 shares of the business's stock in a transaction that occurred on 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 directly owned 99,297 shares of the company's stock, valued at approximately $16,916,236.92. The trade was a 9.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harriet Edelman sold 8,325 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $157.00, for a total value of $1,307,025.00. Following the transaction, the director owned 28,905 shares in the company, valued at $4,538,085. The trade was a 22.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.72% of the company's stock.

Analyst Ratings Changes

EAT has been the subject of a number of research reports. Barclays increased their price target on Brinker International from $166.00 to $170.00 and gave the company an "equal weight" rating in a research note on Thursday, August 14th. Morgan Stanley increased their target price on Brinker International from $149.00 to $161.00 and gave the company an "equal weight" rating in a research report on Thursday, August 14th. Stifel Nicolaus boosted their price target on Brinker International from $200.00 to $215.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Bank of America upped their price objective on Brinker International from $186.00 to $190.00 and gave the company a "neutral" rating in a research note on Thursday, August 14th. Finally, Wall Street Zen downgraded shares of Brinker International from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Thirteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $171.41.

Brinker International Price Performance

EAT stock opened at $155.72 on Tuesday. The company has a quick ratio of 0.23, a current ratio of 0.31 and a debt-to-equity ratio of 1.15. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 1.00 and a beta of 1.68. The company's fifty day simple moving average is $167.62 and its 200 day simple moving average is $157.92. Brinker International, Inc. has a 12-month low of $65.38 and a 12-month high of $192.21.

Brinker International (NYSE:EAT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The restaurant operator reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.02. Brinker International had a return on equity of 211.86% and a net margin of 7.12%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the company posted $1.61 EPS. The business's quarterly revenue was up 21.0% on a year-over-year basis. On average, analysts expect that Brinker International, Inc. will post 8.3 earnings per share for the current year.

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.

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