Brinker International, Inc. $EAT Shares Bought by First Trust Advisors LP

Key Points

• First Trust Advisors significantly increased its Brinker International stake by 177.1% in the first quarter, ending with 65,699 shares valued at approximately $9.38 million.
• Analysts remain broadly bullish on EAT, with a consensus rating of “Moderate Buy” and an average price target of $193.25; several firms recently raised their targets to between $204 and $227.
• Brinker reported quarterly earnings of $2.90 per share, exceeding estimates of $2.85, while revenue reached $1.47 billion and rose 3.2% year over year.

First Trust Advisors LP lifted its stake in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 177.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,699 shares of the restaurant operator's stock after purchasing an additional 41,990 shares during the quarter. First Trust Advisors LP owned about 0.15% of Brinker International worth $9,380,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Swiss National Bank lifted its stake in shares of Brinker International by 0.3% in the 1st quarter. Swiss National Bank now owns 87,900 shares of the restaurant operator's stock worth $12,549,000 after acquiring an additional 300 shares during the period. World Equity Group Inc. acquired a new stake in Brinker International in the first quarter worth approximately $449,000. Gallacher Capital Management LLC bought a new position in Brinker International during the 1st quarter valued at $216,000. Bessemer Group Inc. increased its position in shares of Brinker International by 15.8% during the 1st quarter. Bessemer Group Inc. now owns 75,839 shares of the restaurant operator's stock valued at $10,828,000 after purchasing an additional 10,352 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Brinker International by 78.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 143,484 shares of the restaurant operator's stock worth $20,568,000 after buying an additional 62,878 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have issued reports on EAT. TD Cowen lifted their price target on shares of Brinker International from $170.00 to $210.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Wells Fargo & Company upped their target price on Brinker International from $200.00 to $220.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. KeyCorp lifted their price target on Brinker International from $177.00 to $204.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Citigroup upped their price objective on shares of Brinker International from $189.00 to $227.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Weiss Ratings raised shares of Brinker International from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $193.25.

Brinker International Stock Performance

EAT stock opened at $213.76 on Friday. The firm has a 50 day simple moving average of $169.10 and a 200 day simple moving average of $156.10. Brinker International, Inc. has a 52 week low of $100.30 and a 52 week high of $214.23. The stock has a market cap of $9.17 billion, a P/E ratio of 20.96, a P/E/G ratio of 1.24 and a beta of 1.24. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.35 and a current ratio of 0.40.

Brinker International (NYSE:EAT - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The restaurant operator reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.05. Brinker International had a net margin of 8.07% and a return on equity of 123.22%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the business earned $2.66 EPS. The company's revenue for the quarter was up 3.2% compared to the same quarter last year. Research analysts anticipate that Brinker International, Inc. will post 10.76 earnings per share for the current fiscal year.

Brinker International Profile

Brinker International, Inc NYSE: EAT is a leading global operator of casual dining restaurants. The company's portfolio is anchored by its flagship Chili's® Grill & Bar concept and Maggiano's® Little Italy full‐service restaurants, offering a range of American‐style menu items, handcrafted cocktails and family‐friendly dining experiences. Through dine‐in, takeout, delivery and catering services, Brinker seeks to meet consumer preferences across multiple channels.

The Chili's brand features signature items such as baby back ribs, burgers and fajitas alongside a rotating selection of limited‐time offerings and seasonal beverages.

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