Brinker International, Inc. $EAT Stock Holdings Lifted by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management increased its Brinker International stake by 14.9% in the second quarter, bringing its holdings to 64,309 shares valued at approximately $10.8 million. Several other institutional investors also raised their positions.
• Brinker reported quarterly revenue of $1.54 billion, up 5.1% year over year and ahead of estimates, while adjusted EPS of $3.07 narrowly missed the $3.09 consensus. Analysts maintain a “Moderate Buy” consensus with an average price target of $243.38.
• Insiders have sold 173,694 shares worth approximately $41.6 million over the past three months, including director sales in August and September. Brinker shares opened at $194.38, below the stock’s 50-day moving average of $219.84.

Envestnet Asset Management Inc. grew its holdings in Brinker International, Inc. (NYSE:EAT - Free Report) by 14.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 64,309 shares of the restaurant operator's stock after purchasing an additional 8,336 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.15% of Brinker International worth $10,804,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. State Street Corp raised its stake 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 buying an additional 59,120 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Brinker International by 13.1% during the second quarter. The Manufacturers Life Insurance Company now owns 21,550 shares of the restaurant operator's stock valued at $3,620,000 after purchasing an additional 2,489 shares in the last quarter. Tidal Investments LLC boosted its position in Brinker International by 24.1% during the second quarter. Tidal Investments LLC now owns 8,897 shares of the restaurant operator's stock valued at $1,495,000 after purchasing an additional 1,726 shares in the last quarter. WINTON GROUP Ltd grew its stake in Brinker International by 318.2% in the second quarter. WINTON GROUP Ltd now owns 28,047 shares of the restaurant operator's stock valued at $4,712,000 after purchasing an additional 21,340 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in Brinker International in the second quarter valued at about $145,000.

Insider Transactions at Brinker International

In other Brinker International news, Director Joseph DePinto sold 25,000 shares of the company's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $230.39, for a total value of $5,759,750.00. Following the sale, the director directly owned 77,812 shares of the company's stock, valued at approximately $17,927,106.68. This represents a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James C. Katzman sold 650 shares of the stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $220.09, for a total value of $143,058.50. Following the sale, the director directly owned 25,094 shares in the company, valued at $5,522,938.46. This represents a 2.52% 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. 1.43% of the stock is owned by corporate insiders.

Brinker International Trading Up 0.4%

Shares of NYSE:EAT opened at $194.38 on Friday. Brinker International, Inc. has a 52-week low of $100.30 and a 52-week high of $254.99. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 1.00 and a beta of 1.25. 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 business has a 50-day moving average price of $219.84 and a 200-day moving average price of $177.03.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on EAT. TD Cowen reiterated a "buy" rating and issued a $270.00 target price on shares of Brinker International in a report on Friday, September 18th. KeyCorp lifted their price objective on shares of Brinker International from $204.00 to $275.00 and gave the stock an "overweight" rating in a research report on Thursday, August 13th. Wells Fargo & Company lifted their price objective on shares of Brinker International from $220.00 to $280.00 and gave the stock an "overweight" rating in a research report on Thursday, August 13th. Piper Sandler increased their target price on shares of Brinker International from $166.00 to $240.00 and gave the company a "neutral" rating in a research report on Monday, August 17th. Finally, Morgan Stanley increased their target price on shares of Brinker International from $250.00 to $260.00 and gave the company an "overweight" rating in a research report on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Brinker International has an average rating of "Moderate Buy" and an average target price of $243.38.

Brinker International Company Profile

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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