Allianz Asset Management GmbH Grows Position in Brinker International, Inc. $EAT

Key Points

• Allianz Asset Management GmbH significantly increased its stake in Brinker International by 5,312.1% in Q2, owning 184,933 shares valued at approximately $33.35 million.
• Brinker International reported strong financial results for Q2, with EPS of $2.49 surpassing analysts' expectations and revenue increasing by 21% year-over-year.
• Recent insider trading saw COO Douglas N. Comings and CEO Kevin Hochman sell a combined total of 60,000 shares, which marked a notable decrease in their ownership positions.

Allianz Asset Management GmbH lifted its position in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 5,312.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 184,933 shares of the restaurant operator's stock after purchasing an additional 181,516 shares during the period. Allianz Asset Management GmbH owned about 0.42% of Brinker International worth $33,349,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC raised its holdings in Brinker International by 5.9% in the second quarter. Sequoia Financial Advisors LLC now owns 1,462 shares of the restaurant operator's stock valued at $264,000 after acquiring an additional 81 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in Brinker International by 0.7% in the second quarter. Maryland State Retirement & Pension System now owns 13,043 shares of the restaurant operator's stock valued at $2,352,000 after acquiring an additional 85 shares in the last quarter. Yousif Capital Management LLC raised its holdings in Brinker International by 0.7% in the second quarter. Yousif Capital Management LLC now owns 12,097 shares of the restaurant operator's stock valued at $2,181,000 after acquiring an additional 85 shares in the last quarter. Rezny Wealth Management Inc. raised its holdings in Brinker International by 0.9% in the second quarter. Rezny Wealth Management Inc. now owns 11,581 shares of the restaurant operator's stock valued at $2,088,000 after acquiring an additional 106 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in Brinker International by 20.3% in the second quarter. IFP Advisors Inc now owns 627 shares of the restaurant operator's stock valued at $114,000 after acquiring an additional 106 shares in the last quarter.

Insider Buying and Selling at Brinker International

In other Brinker International news, COO Douglas N. Comings sold 16,000 shares of the company's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $156.48, for a total value of $2,503,680.00. Following the completion of the sale, the chief operating officer directly owned 12,951 shares of the company's stock, valued at approximately $2,026,572.48. This represents a 55.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin Hochman sold 44,000 shares of the company's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $157.82, for a total transaction of $6,944,080.00. Following the completion of the sale, the chief executive officer directly owned 212,867 shares of the company's stock, valued at $33,594,669.94. The trade was a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 68,325 shares of company stock valued at $10,754,785. 1.43% of the stock is owned by insiders.

Brinker International Stock Performance

Shares of EAT opened at $127.54 on Friday. The firm has a 50-day moving average price of $144.02 and a 200 day moving average price of $153.90. The firm has a market capitalization of $5.67 billion, a PE ratio of 15.35, a P/E/G ratio of 0.84 and a beta of 1.38. The company has a quick ratio of 0.25, a current ratio of 0.31 and a debt-to-equity ratio of 1.15. Brinker International, Inc. has a 52-week low of $89.77 and a 52-week high of $192.21.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays upped their price target on shares of Brinker International from $166.00 to $170.00 and gave the company an "equal weight" rating in a report on Thursday, August 14th. Citigroup lowered their target price on shares of Brinker International from $168.00 to $156.00 and set a "neutral" rating for the company in a research note on Tuesday, October 14th. Jefferies Financial Group lowered their target price on shares of Brinker International from $175.00 to $144.00 and set a "hold" rating for the company in a research note on Monday, October 13th. Evercore ISI upgraded shares of Brinker International from an "in-line" rating to an "outperform" rating and boosted their target price for the company from $190.00 to $210.00 in a research note on Thursday, September 4th. Finally, Wall Street Zen lowered shares of Brinker International from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $169.06.

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.

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