Blueshift Asset Management LLC Sells 9,617 Shares of Brinker International, Inc. (NYSE:EAT)

Key Points

• Blueshift Asset Management LLC reduced its stock position in Brinker International, Inc. by 75.8% during Q1, selling 9,617 shares and ending up with 3,074 shares valued at approximately $458,000.
• Brinker International reported earnings of $2.66 per share for the last quarter, exceeding analyst expectations of $2.48, with revenue of $1.43 billion, up 27.2% year-over-year.
• Recent analyst ratings have seen price targets for Brinker International adjusted, with Wells Fargo increasing its target from $150.00 to $165.00 and Stifel Nicolaus raising it from $200.00 to $215.00, indicating a mixed outlook among analysts.

Blueshift Asset Management LLC trimmed its position in Brinker International, Inc. (NYSE:EAT - Free Report) by 75.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,074 shares of the restaurant operator's stock after selling 9,617 shares during the period. Blueshift Asset Management LLC's holdings in Brinker International were worth $458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in shares of Brinker International by 3,277.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 987,334 shares of the restaurant operator's stock valued at $130,615,000 after buying an additional 958,101 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of Brinker International in the 4th quarter valued at $82,408,000. Northern Trust Corp grew its position in shares of Brinker International by 10.2% during the fourth quarter. Northern Trust Corp now owns 512,613 shares of the restaurant operator's stock worth $67,814,000 after acquiring an additional 47,378 shares during the last quarter. Invesco Ltd. increased its position in Brinker International by 14.6% in the 4th quarter. Invesco Ltd. now owns 489,723 shares of the restaurant operator's stock valued at $64,785,000 after acquiring an additional 62,265 shares during the period. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in Brinker International during the 4th quarter valued at approximately $61,929,000.

Insider Activity at Brinker International

In related news, Director Joseph Michael Depinto sold 10,000 shares of the firm's stock in a transaction 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 completion of the transaction, the director directly owned 99,297 shares of the company's stock, valued at $16,916,236.92. This trade represents a 9.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ramona Hood sold 777 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $135.23, for a total transaction of $105,073.71. Following the completion of the sale, the director directly owned 8,568 shares in the company, valued at approximately $1,158,650.64. This represents a 8.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,127 shares of company stock valued at $2,128,062 over the last quarter. 1.72% of the stock is owned by corporate insiders.

Brinker International Stock Performance

NYSE EAT traded up $4.64 during trading on Monday, reaching $160.55. 816,951 shares of the company's stock were exchanged, compared to its average volume of 1,332,739. The stock has a market capitalization of $7.14 billion, a P/E ratio of 22.14, a PEG ratio of 0.37 and a beta of 1.68. The business has a 50 day moving average price of $170.33 and a 200-day moving average price of $158.07. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.28 and a quick ratio of 0.23. Brinker International, Inc. has a fifty-two week low of $56.27 and a fifty-two week high of $192.21.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on EAT shares. Morgan Stanley boosted their price objective on shares of Brinker International from $144.00 to $149.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Bank of America raised their price objective on shares of Brinker International from $185.00 to $186.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Barclays upped their price objective on shares of Brinker International from $155.00 to $166.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Wells Fargo & Company boosted their target price on Brinker International from $150.00 to $165.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Finally, Citigroup dropped their target price on shares of Brinker International from $185.00 to $170.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Thirteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Brinker International currently has an average rating of "Hold" and a consensus price target of $156.41.

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.