Armistice Capital LLC Acquires 47,206 Shares of Brinker International, Inc. $EAT

Key Points

• Armistice Capital LLC increased its stake in Brinker International by 93.4%, acquiring an additional 47,206 shares, bringing its total ownership to 97,734 shares valued at approximately $14.57 million.
• Brinker International reported an unexpected earnings per share of $2.49, beating analysts' expectations and showing a significant revenue increase of 21.0% compared to the same quarter last year.
• Multiple analysts have raised their price targets for Brinker International, with Barclays setting a new target at $170.00, while a consensus price target across analysts stands at $171.41.

Armistice Capital LLC lifted its holdings in Brinker International, Inc. (NYSE:EAT - Free Report) by 93.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 97,734 shares of the restaurant operator's stock after acquiring an additional 47,206 shares during the quarter. Armistice Capital LLC owned 0.22% of Brinker International worth $14,567,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its holdings in shares of Brinker International by 575.0% in the 1st 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 last quarter. Financial Management Professionals Inc. bought a new stake in shares of Brinker International in the 1st quarter worth approximately $30,000. National Bank of Canada FI lifted its holdings in shares of Brinker International by 227.3% in the 1st quarter. National Bank of Canada FI now owns 252 shares of the restaurant operator's stock worth $38,000 after acquiring an additional 175 shares during the last quarter. Continuum Advisory LLC lifted its holdings in shares of Brinker International by 1,714.3% in the 1st quarter. Continuum Advisory LLC now owns 254 shares of the restaurant operator's stock worth $38,000 after acquiring an additional 240 shares during the last quarter. Finally, Virtus Advisers LLC bought a new stake in shares of Brinker International in the 1st quarter worth approximately $54,000.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on EAT shares. Barclays boosted their price objective on shares of Brinker International from $166.00 to $170.00 and gave the stock an "equal weight" rating in a report on Thursday, August 14th. Wall Street Zen lowered shares of Brinker International from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. BMO Capital Markets upped their price target on shares of Brinker International from $150.00 to $170.00 and gave the company a "market perform" rating in a report on Thursday, August 14th. Piper Sandler upped their price target on shares of Brinker International from $155.00 to $168.00 and gave the company a "neutral" rating in a report on Thursday, August 14th. Finally, UBS Group upped their price target on shares of Brinker International from $155.00 to $165.00 and gave the company a "neutral" rating in a report on Thursday, August 14th. Four investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company's stock. According to MarketBeat.com, Brinker International has an average rating of "Hold" and a consensus price target of $171.41.

Brinker International Trading Up 0.2%

Shares of EAT opened at $155.89 on Friday. The firm's 50-day moving average price is $163.64 and its 200-day moving average price is $156.65. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 0.99 and a beta of 1.68. The company has a current ratio of 0.31, a quick ratio of 0.25 and a debt-to-equity ratio of 1.15. Brinker International, Inc. has a 1-year low of $68.45 and a 1-year 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 for the quarter, beating analysts' consensus estimates of $2.47 by $0.02. The firm had revenue of $1.46 billion for 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%. The company's revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.61 EPS. Brinker International has set its FY 2026 guidance at 9.900-10.50 EPS. Sell-side analysts anticipate that Brinker International, Inc. will post 8.3 EPS for the current year.

Insider Activity

In other news, Director Joseph Michael Depinto sold 10,000 shares of Brinker International stock in a transaction dated 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 sale, the director owned 99,297 shares of the company's stock, valued at approximately $16,916,236.92. The trade was a 9.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Harriet Edelman sold 8,325 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $157.00, for a total transaction of $1,307,025.00. Following the completion of the sale, the director directly owned 28,905 shares in the company, valued at $4,538,085. This represents a 22.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,325 shares of company stock valued at $9,954,705. Corporate insiders own 1.72% of the company's stock.

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.

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