Allianz Asset Management GmbH Takes Position in Brinker International, Inc. (NYSE:EAT)

Key Points

• Allianz Asset Management GmbH has acquired a new stake in Brinker International, Inc., purchasing 3,417 shares valued at approximately $509,000 during the 1st quarter.
• Analysts have mixed views on Brinker International, with a consensus rating of "Hold" and a target price of $156.41, while Wells Fargo recently raised its price objective to $165.00.
• Insider trading has been noted, with Director Joseph Michael Depinto selling 10,000 shares for over $1.7 million, representing a significant decrease in his ownership stake.

Allianz Asset Management GmbH acquired a new stake in Brinker International, Inc. (NYSE:EAT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 3,417 shares of the restaurant operator's stock, valued at approximately $509,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. AdvisorShares Investments LLC boosted its holdings in shares of Brinker International by 4.4% during the fourth quarter. AdvisorShares Investments LLC now owns 2,131 shares of the restaurant operator's stock worth $282,000 after acquiring an additional 89 shares during the period. Summit Investment Advisors Inc. boosted its holdings in shares of Brinker International by 3.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,509 shares of the restaurant operator's stock worth $596,000 after acquiring an additional 148 shares during the period. Farther Finance Advisors LLC boosted its holdings 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 worth $29,000 after acquiring an additional 161 shares during the period. Coppell Advisory Solutions LLC bought a new stake in shares of Brinker International during the fourth quarter worth approximately $26,000. Finally, Financial Management Professionals Inc. bought a new stake in shares of Brinker International during the first quarter worth approximately $30,000.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on Brinker International from $150.00 to $165.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Citigroup reduced their price objective on Brinker International from $185.00 to $170.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Morgan Stanley lifted their price target on shares of Brinker International from $144.00 to $149.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Bank of America lifted their price target on shares of Brinker International from $185.00 to $186.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Finally, Barclays lifted their price target on shares of Brinker International from $155.00 to $166.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Brinker International currently has a consensus rating of "Hold" and a consensus target price of $156.41.

Brinker International Stock Down 1.2%

Shares of EAT opened at $155.71 on Friday. Brinker International, Inc. has a one year low of $56.27 and a one year high of $192.21. The company has a market cap of $6.92 billion, a P/E ratio of 21.48, a P/E/G ratio of 0.37 and a beta of 1.68. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.28 and a quick ratio of 0.23. The firm has a 50 day simple moving average of $170.33 and a two-hundred day simple moving average of $157.97.

Insider Buying and Selling at Brinker International

In other news, Director Joseph Michael Depinto sold 10,000 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $170.36, for a total transaction of $1,703,600.00. Following the completion of the transaction, the director directly owned 99,297 shares in the company, valued at approximately $16,916,236.92. This represents a 9.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Douglas N. Comings sold 2,350 shares of the company's stock in a transaction 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 transaction, the chief operating officer 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. Insiders sold a total of 13,127 shares of company stock worth $2,128,062 over the last three months. Corporate insiders own 1.72% of the company's stock.

Brinker International 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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