Allspring Global Investments Holdings LLC Sells 26,235 Shares of Brinker International, Inc. (NYSE:EAT)

Allspring Global Investments Holdings LLC reduced its stake in Brinker International, Inc. (NYSE:EAT - Free Report) by 39.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,107 shares of the restaurant operator's stock after selling 26,235 shares during the period. Allspring Global Investments Holdings LLC owned 0.09% of Brinker International worth $5,978,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Illinois Municipal Retirement Fund boosted its position in shares of Brinker International by 4.6% in the first quarter. Illinois Municipal Retirement Fund now owns 25,235 shares of the restaurant operator's stock valued at $3,761,000 after acquiring an additional 1,109 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in shares of Brinker International in the first quarter valued at about $565,000. Sequoia Financial Advisors LLC bought a new stake in shares of Brinker International in the first quarter valued at about $206,000. Archford Capital Strategies LLC bought a new stake in shares of Brinker International in the first quarter valued at about $688,000. Finally, Continuum Advisory LLC boosted its position in shares of 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.

Insiders Place Their Bets

In other Brinker International news, Director Joseph Michael Depinto sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $170.36, for a total transaction of $1,703,600.00. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ramona Hood sold 777 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $135.23, for a total value of $105,073.71. Following the transaction, the director owned 8,568 shares in the company, valued at $1,158,650.64. The trade was a 8.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,127 shares of company stock worth $2,128,062. Corporate insiders own 1.72% of the company's stock.

Brinker International Trading Up 0.4%

NYSE:EAT traded up $0.67 on Friday, reaching $182.40. 456,118 shares of the stock traded hands, compared to its average volume of 1,484,967. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 0.47 and a beta of 1.70. Brinker International, Inc. has a 1-year low of $56.27 and a 1-year high of $192.22. The company's 50 day moving average is $162.51 and its 200-day moving average is $154.38. The company has a current ratio of 0.28, a quick ratio of 0.23 and a debt-to-equity ratio of 2.00.

Brinker International (NYSE:EAT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The restaurant operator reported $2.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.48 by $0.18. The firm had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.38 billion. Brinker International had a return on equity of 333.03% and a net margin of 6.50%. The company's revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.24 EPS. Equities research analysts anticipate that Brinker International, Inc. will post 8.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EAT has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Brinker International from $160.00 to $180.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 25th. Stifel Nicolaus boosted their target price on Brinker International from $200.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Wells Fargo & Company lowered their price objective on Brinker International from $165.00 to $150.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Barclays lowered their price objective on Brinker International from $165.00 to $155.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Finally, Citigroup lowered their price objective on Brinker International from $185.00 to $170.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Thirteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $144.75.

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.