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

Allspring Global Investments Holdings LLC cut its stake in Brinker International, Inc. (NYSE:EAT - Free Report) by 39.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,107 shares of the restaurant operator's stock after selling 26,235 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.09% of Brinker International worth $5,978,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of EAT. Coppell Advisory Solutions LLC bought a new position in Brinker International during the fourth quarter worth about $26,000. Farther Finance Advisors LLC increased its position in 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. Financial Management Professionals Inc. bought a new position in Brinker International during the first quarter worth about $30,000. Continuum Advisory LLC grew its stake in 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 in the last quarter. Finally, Quarry LP acquired a new stake in Brinker International during the fourth quarter worth about $48,000.

Brinker International Trading Down 0.8%

NYSE:EAT traded down $1.35 during mid-day trading on Wednesday, hitting $169.93. 1,301,612 shares of the company's stock were exchanged, compared to its average volume of 1,478,096. The company has a 50 day simple moving average of $164.17 and a 200-day simple moving average of $155.03. 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, Inc. has a fifty-two week low of $56.27 and a fifty-two week high of $192.22. The firm has a market capitalization of $7.55 billion, a P/E ratio of 23.44, a PEG ratio of 0.44 and a beta of 1.70.

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

Insiders Place Their Bets

In other Brinker International news, Director Joseph Michael Depinto sold 10,000 shares of the firm's stock in a transaction that occurred 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 owned 99,297 shares in the company, valued at approximately $16,916,236.92. This trade represents a 9.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Douglas N. Comings sold 2,350 shares of the firm's stock in a transaction that occurred 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 approximately $2,798,522.81. The trade was a 10.24% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,127 shares of company stock worth $2,128,062. 1.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

EAT has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of Brinker International from $165.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Stifel Nicolaus increased their price objective on shares of Brinker International from $200.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Citigroup reduced their price objective on shares of Brinker International from $185.00 to $170.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. increased their price objective on shares of Brinker International from $160.00 to $180.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 25th. Finally, Barclays reduced their price target on shares of Brinker International from $165.00 to $155.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Thirteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Brinker International has a consensus rating of "Hold" and an average price target of $148.41.

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.