Brinker International, Inc. $EAT Position Lowered by State of Alaska Department of Revenue

Key Points

• State of Alaska Department of Revenue cut its Brinker International stake by 57.9% in the third quarter, selling 8,173 shares and retaining 5,951 shares valued at approximately $1.15 million.
• Brinker shares opened at $195.46, below their 50-day moving average of $215.41, while the company’s latest quarterly EPS of $3.07 slightly missed estimates despite revenue rising 5.1% year over year to $1.54 billion.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $248.76; however, insiders sold 173,694 shares worth about $41.6 million over the past three months.

State of Alaska Department of Revenue trimmed its holdings in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 57.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,951 shares of the restaurant operator's stock after selling 8,173 shares during the period. State of Alaska Department of Revenue's holdings in Brinker International were worth $1,151,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EAT. BlackRock Inc. increased its holdings in Brinker International by 2.2% during the second quarter. BlackRock Inc. now owns 6,729,477 shares of the restaurant operator's stock worth $1,130,552,000 after buying an additional 145,525 shares during the last quarter. State Street Corp raised its position in Brinker International by 3.5% in the second quarter. State Street Corp now owns 1,748,760 shares of the restaurant operator's stock worth $293,786,000 after acquiring an additional 59,120 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Brinker International by 0.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,170,612 shares of the restaurant operator's stock worth $167,128,000 after acquiring an additional 9,692 shares during the period. Freestone Grove Partners LP bought a new stake in Brinker International in the second quarter worth about $91,237,000. Finally, Assenagon Asset Management S.A. boosted its stake in Brinker International by 53.7% in the first quarter. Assenagon Asset Management S.A. now owns 456,565 shares of the restaurant operator's stock valued at $65,184,000 after acquiring an additional 159,606 shares during the last quarter.

Brinker International Stock Down 1.2%

EAT stock opened at $195.46 on Wednesday. The stock has a fifty day moving average of $215.41 and a 200-day moving average of $181.98. Brinker International, Inc. has a fifty-two week low of $100.30 and a fifty-two week high of $254.99. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.03 and a beta of 1.25. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.40 and a current ratio of 0.45.

Brinker International (NYSE:EAT - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Brinker International had a net margin of 8.39% and a return on equity of 122.35%. The company's revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.30 earnings per share. Brinker International has set its FY 2027 guidance at 12.600-13.400 EPS. As a group, equities research analysts predict that Brinker International, Inc. will post 13.18 earnings per share for the current year.

Insider Transactions at Brinker International

In related news, SVP James M. Butler sold 10,000 shares of the company's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $240.37, for a total transaction of $2,403,700.00. Following the sale, the senior vice president directly owned 9,064 shares in the company, valued at approximately $2,178,713.68. This represents a 52.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 of the company's stock, valued at approximately $1,494,398.71. This trade represents a 69.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 173,694 shares of company stock valued at $41,568,690. 1.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EAT. Jefferies Financial Group raised shares of Brinker International from a "hold" rating to a "buy" rating and increased their target price for the company from $230.00 to $255.00 in a research report on Wednesday, October 14th. Robert W. Baird began coverage on shares of Brinker International in a research note on Monday, August 24th. They set an "outperform" rating and a $325.00 price target for the company. TD Cowen decreased their price target on shares of Brinker International from $270.00 to $250.00 and set a "buy" rating for the company in a research note on Friday, October 16th. Wells Fargo & Company lifted their price target on shares of Brinker International from $220.00 to $280.00 and gave the stock an "overweight" rating in a report on Thursday, August 13th. Finally, UBS Group upped their price objective on Brinker International from $190.00 to $260.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Brinker International presently has an average rating of "Moderate Buy" and an average price target of $248.76.

About Brinker International

Brinker International, Inc is a casual-dining restaurant company that owns, operates and franchises restaurants in the United States and select international markets. The company is headquartered in Dallas, Texas, and serves customers through company-operated and franchised locations.

Brinker's principal brands are Chili's Grill & Bar and Maggiano's Little Italy. Chili's offers a broad menu of burgers, steaks, ribs, fajitas, Tex-Mex dishes, salads and beverages in a full-service, casual setting.

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