Brinker International, Inc. $EAT Shares Sold by Congress Asset Management Co.

Key Points

• Congress Asset Management reduced its Brinker International stake by 2% in the third quarter, selling 13,571 shares and retaining 671,777 shares valued at approximately $130 million. Other institutional investors, including State Street and WINTON GROUP, increased their positions.
• Brinker insiders sold 173,694 shares worth approximately $41.6 million during the latest quarter. Notable sales included transactions by senior executives James Butler and Michaela Ware.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $243.38, despite EAT shares falling 2.1% to $190.08. The company’s latest quarter included revenue growth of 5.1% year over year, though earnings per share slightly missed estimates.

Congress Asset Management Co. decreased its holdings in Brinker International, Inc. (NYSE:EAT - Free Report) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 671,777 shares of the restaurant operator's stock after selling 13,571 shares during the quarter. Congress Asset Management Co. owned approximately 1.61% of Brinker International worth $130,009,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its stake in shares of Brinker International by 14.9% in the second quarter. Envestnet Asset Management Inc. now owns 64,309 shares of the restaurant operator's stock valued at $10,804,000 after buying an additional 8,336 shares in the last quarter. State Street Corp lifted its position in Brinker International by 3.5% during the 2nd quarter. State Street Corp now owns 1,748,760 shares of the restaurant operator's stock worth $293,786,000 after buying an additional 59,120 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Brinker International by 13.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,550 shares of the restaurant operator's stock worth $3,620,000 after acquiring an additional 2,489 shares during the last quarter. Tidal Investments LLC grew its holdings in Brinker International by 24.1% during the 2nd quarter. Tidal Investments LLC now owns 8,897 shares of the restaurant operator's stock worth $1,495,000 after acquiring an additional 1,726 shares during the last quarter. Finally, WINTON GROUP Ltd increased its position in Brinker International by 318.2% in the 2nd quarter. WINTON GROUP Ltd now owns 28,047 shares of the restaurant operator's stock valued at $4,712,000 after acquiring an additional 21,340 shares in the last quarter.

Insider Buying and Selling

In other news, SVP James Butler sold 10,000 shares of the company's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $240.37, for a total value of $2,403,700.00. Following the completion of the sale, the senior vice president directly owned 9,064 shares of the company's stock, valued at $2,178,713.68. This represents a 52.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michaela Ware sold 3,030 shares of Brinker International stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $233.48, for a total transaction of $707,444.40. Following the transaction, the executive vice president directly owned 17,494 shares in the company, valued at $4,084,499.12. The trade was a 14.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 173,694 shares of company stock worth $41,568,690 over the last quarter. Insiders own 1.43% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Piper Sandler upped their target price on shares of Brinker International from $166.00 to $240.00 and gave the stock a "neutral" rating in a research report on Monday, August 17th. Northcoast Research upgraded shares of Brinker International from a "neutral" rating to a "buy" rating and set a $275.00 price objective for the company in a research report on Tuesday, September 22nd. BMO Capital Markets increased their price objective on Brinker International from $175.00 to $230.00 and gave the company a "market perform" rating in a research report on Thursday, August 13th. Citigroup lifted their target price on Brinker International from $227.00 to $282.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Finally, DA Davidson dropped their target price on Brinker International from $240.00 to $210.00 and set a "neutral" rating for the company in a research report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Brinker International currently has a consensus rating of "Moderate Buy" and an average price target of $243.38.

Brinker International Trading Down 2.1%

Shares of EAT stock traded down $4.08 during trading hours on Tuesday, reaching $190.08. The company had a trading volume of 950,900 shares, compared to its average volume of 1,187,950. The company has a 50 day moving average of $220.13 and a 200 day moving average of $177.81. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.45 and a quick ratio of 0.40. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 1.05 and a beta of 1.25. Brinker International, Inc. has a 1-year low of $100.30 and a 1-year high of $254.99.

Brinker International (NYSE:EAT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The restaurant operator reported $3.07 EPS for the quarter, missing analysts' consensus estimates of $3.09 by ($0.02). The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Brinker International had a return on equity of 122.35% and a net margin of 8.39%.During the same period last year, the firm earned $2.30 earnings per share. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. Brinker International has set its FY 2027 guidance at 12.600-13.400 EPS. On average, equities research analysts anticipate that Brinker International, Inc. will post 13.15 EPS for the current year.

About Brinker International

Brinker International, Inc is a Dallas-based restaurant company that owns, operates and franchises casual dining establishments. Its portfolio is led by Chili's Grill & Bar, a full-service restaurant brand known for burgers, steaks, fajitas, ribs and other American-style menu items, and Maggiano's Little Italy, which specializes in Italian-American cuisine and operates both restaurants and catering services.

Brinker also developed It's Just Wings, a virtual restaurant brand offering chicken wings, fries and related items through delivery and takeout.

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