Allspring Global Investments Holdings LLC Has $12.03 Million Holdings in Brinker International, Inc. $EAT

Key Points

• Allspring Global Investments Holdings LLC increased its holdings in Brinker International, Inc. by 63.0%, acquiring an additional 25,251 shares, bringing its total to approximately $12.03 million.
• Several institutional investors, including Farther Finance Advisors LLC and Ameritas Advisory Services LLC, have significantly increased their stakes, signaling growing confidence in the company.
• Analysts have upgraded Brinker International's stock ratings, with Bank of America and Wells Fargo raising their target prices, indicating a positive outlook for the company's future performance.

Allspring Global Investments Holdings LLC raised its holdings in Brinker International, Inc. (NYSE:EAT - Free Report) by 63.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,358 shares of the restaurant operator's stock after acquiring an additional 25,251 shares during the period. Allspring Global Investments Holdings LLC owned about 0.15% of Brinker International worth $12,027,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its stake 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 acquiring an additional 161 shares during the period. AdvisorNet Financial Inc acquired a new position in Brinker International in the second quarter valued at about $33,000. Continuum Advisory LLC grew its stake in Brinker International by 1,714.3% in the first quarter. Continuum Advisory LLC now owns 254 shares of the restaurant operator's stock valued at $38,000 after acquiring an additional 240 shares during the period. National Bank of Canada FI grew its stake in Brinker International by 227.3% in the first quarter. National Bank of Canada FI now owns 252 shares of the restaurant operator's stock valued at $38,000 after acquiring an additional 175 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new position in Brinker International in the second quarter valued at about $49,000.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on EAT shares. Bank of America raised Brinker International from a "neutral" rating to a "buy" rating and boosted their target price for the company from $190.00 to $192.00 in a research note on Monday, October 6th. Wells Fargo & Company raised Brinker International from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $165.00 to $175.00 in a research note on Monday, September 22nd. Stifel Nicolaus boosted their target price on Brinker International from $200.00 to $215.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. BMO Capital Markets upped their price objective on Brinker International from $150.00 to $170.00 and gave the stock a "market perform" rating in a research report on Thursday, August 14th. Finally, Morgan Stanley upped their price objective on Brinker International from $149.00 to $161.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 14th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $169.06.

Brinker International Stock Down 0.6%

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

Brinker International (NYSE:EAT - Get Free Report) last released its earnings results on Wednesday, August 13th. The restaurant operator reported $2.49 earnings per share (EPS) 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 business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the company posted $1.61 earnings per share. Brinker International's revenue was up 21.0% on a year-over-year basis. 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.

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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