Brinker International, Inc. (NYSE:EAT) Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Brinker International by 10.2%, owning 549,877 shares valued at approximately $81.96 million after selling 62,765 shares in the first quarter.
• Brinker International reported a Q2 earnings per share of $2.49, surpassing expectations, with revenues of $1.46 billion, marking a 21.0% increase year-over-year.
• Several analysts have raised their price targets for Brinker International, with Barclays and Wells Fargo setting their targets at $166.00 and $165.00 respectively, while maintaining an "equal weight" rating.

Charles Schwab Investment Management Inc. lessened its position in Brinker International, Inc. (NYSE:EAT - Free Report) by 10.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 549,877 shares of the restaurant operator's stock after selling 62,765 shares during the period. Charles Schwab Investment Management Inc. owned about 1.24% of Brinker International worth $81,959,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. AdvisorShares Investments LLC raised its position in shares of Brinker International by 4.4% in the fourth quarter. AdvisorShares Investments LLC now owns 2,131 shares of the restaurant operator's stock valued at $282,000 after buying an additional 89 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Brinker International by 4.2% in the first quarter. Mackenzie Financial Corp now owns 2,933 shares of the restaurant operator's stock valued at $437,000 after buying an additional 119 shares during the last quarter. Summit Investment Advisors Inc. raised its position in shares of Brinker International by 3.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,509 shares of the restaurant operator's stock valued at $596,000 after buying an additional 148 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Brinker International by 575.0% in the first quarter. Farther Finance Advisors LLC now owns 189 shares of the restaurant operator's stock valued at $29,000 after buying an additional 161 shares during the last quarter. Finally, Coppell Advisory Solutions LLC acquired a new position in shares of Brinker International in the fourth quarter valued at approximately $26,000.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EAT. Barclays upped their price target on shares of Brinker International from $155.00 to $166.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Wells Fargo & Company upped their price target on shares of Brinker International from $150.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Stifel Nicolaus upped their price target on shares of Brinker International from $200.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Bank of America upped their price target on shares of Brinker International from $185.00 to $186.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. upped their price target on shares of Brinker International from $160.00 to $180.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 25th. Thirteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $156.41.

Brinker International Price Performance

EAT opened at $157.68 on Thursday. The company has a quick ratio of 0.23, a current ratio of 0.28 and a debt-to-equity ratio of 2.00. Brinker International, Inc. has a 52-week low of $58.85 and a 52-week high of $192.21. The company has a 50 day moving average of $168.48 and a two-hundred day moving average of $158.35. The company has a market cap of $7.01 billion, a P/E ratio of 21.75, a P/E/G ratio of 0.37 and a beta of 1.68.

Brinker International (NYSE:EAT - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The restaurant operator reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.02. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.42 billion. Brinker International had a net margin of 6.50% and a return on equity of 333.03%. Brinker International's revenue for the quarter was up 21.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.61 earnings per share. On average, analysts expect that Brinker International, Inc. will post 8.3 earnings per share for the current year.

Insider Buying and Selling at Brinker International

In other news, Director Joseph Michael Depinto sold 10,000 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $170.36, for a total value of $1,703,600.00. Following the completion of the transaction, the director directly owned 99,297 shares in the company, valued at approximately $16,916,236.92. This represents a 9.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.72% of the company's stock.

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.

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