Bank of America Corp DE Invests $39.69 Million in Brinker International, Inc. $EAT

Key Points

• Bank of America acquired 236,229 Brinker International shares worth approximately $39.69 million, giving it a 0.55% stake in the restaurant operator.
• Analysts maintain a “Moderate Buy” consensus on Brinker, with 17 Buy or Strong Buy ratings and an average price target of $241.80.
• Brinker’s latest quarterly revenue rose 5.1% year over year to $1.54 billion, though EPS of $3.07 slightly missed estimates; company insiders have sold $41.6 million of stock over the past 90 days.

Bank of America Corp DE acquired a new stake in shares of Brinker International, Inc. (NYSE:EAT - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 236,229 shares of the restaurant operator's stock, valued at approximately $39,687,000. Bank of America Corp DE owned approximately 0.55% of Brinker International as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in EAT. New Age Alpha Advisors LLC increased its holdings in Brinker International by 4.8% in the 4th quarter. New Age Alpha Advisors LLC now owns 2,047 shares of the restaurant operator's stock worth $294,000 after acquiring an additional 94 shares in the last quarter. Smith Group Asset Management LLC increased its stake in Brinker International by 0.5% in the 2nd quarter. Smith Group Asset Management LLC now owns 20,669 shares of the restaurant operator's stock worth $3,472,000 after buying an additional 104 shares in the last quarter. Allworth Financial LP grew its position in shares of Brinker International by 49.3% during the fourth quarter. Allworth Financial LP now owns 336 shares of the restaurant operator's stock worth $48,000 after purchasing an additional 111 shares in the last quarter. Lido Advisors LLC lifted its stake in Brinker International by 1.3% in the 4th quarter. Lido Advisors LLC now owns 14,289 shares of the restaurant operator's stock worth $2,051,000 after purchasing an additional 186 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its position in shares of Brinker International by 9.5% in the second quarter. Vontobel Holding Ltd. now owns 2,147 shares of the restaurant operator's stock worth $361,000 after buying an additional 186 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EAT. Piper Sandler lifted their target price on Brinker International from $166.00 to $240.00 and gave the stock a "neutral" rating in a report on Monday, August 17th. TD Cowen reissued a "buy" rating and set a $270.00 price target on shares of Brinker International in a research note on Friday. UBS Group upped their target price on Brinker International from $190.00 to $260.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Citigroup lifted their price target on Brinker International from $227.00 to $282.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Finally, BMO Capital Markets lifted their price target on shares of Brinker International from $175.00 to $230.00 and gave the stock a "market perform" rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $241.80.

Brinker International Trading Up 2.0%

Shares of NYSE:EAT opened at $200.69 on Tuesday. Brinker International, Inc. has a 52-week low of $100.30 and a 52-week high of $254.99. The business has a 50-day moving average price of $217.40 and a 200-day moving average price of $173.49. The company has a quick ratio of 0.40, a current ratio of 0.45 and a debt-to-equity ratio of 0.95. The stock has a market cap of $8.38 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.03 and a beta of 1.25.

Brinker International (NYSE:EAT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The restaurant operator reported $3.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.09 by ($0.02). The business had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. Brinker International had a return on equity of 122.35% and a net margin of 8.39%.The business's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.30 earnings per share. Brinker International has set its FY 2027 guidance at 12.600-13.400 EPS. Equities analysts predict that Brinker International, Inc. will post 13 EPS for the current year.

Insider Activity at Brinker International

In related news, EVP Aaron M. White sold 16,220 shares of the business's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $236.22, for a total transaction of $3,831,488.40. Following the completion of the sale, the executive vice president directly owned 42,756 shares in the company, valued at approximately $10,099,822.32. The trade was a 27.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP George S. Felix sold 14,349 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $237.47, for a total transaction of $3,407,457.03. Following the completion of the transaction, the executive vice president directly owned 6,293 shares in the company, valued at $1,494,398.71. This trade represents a 69.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 173,694 shares of company stock valued at $41,568,690 in the last ninety days. 1.43% of the stock is currently owned by company insiders.

Brinker International Profile

Brinker International, Inc is a Dallas-based restaurant company that owns, operates and franchises casual dining restaurants. Its portfolio includes Chili's Grill & Bar, a full-service restaurant brand known for burgers, fajitas, ribs, steaks, Tex-Mex dishes and a broad beverage menu, and Maggiano's Little Italy, which specializes in Italian-American cuisine and family-style dining.

Chili's restaurants serve a wide range of lunch and dinner offerings in a casual, bar-and-grill setting, while Maggiano's locations offer traditional Italian dishes, including pasta, chicken, seafood and desserts.

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