Deutsche Bank AG Trims Position in Brinker International, Inc. $EAT

Key Points

• Deutsche Bank AG significantly reduced its holdings in Brinker International, cutting its shares by 36.3% in the first quarter, resulting in ownership of 74,567 shares valued at $11.11 million.
• Brinker International reported a quarterly EPS of $2.49, exceeding analysts' expectations, with revenue increasing 21% year-over-year.
• Multiple brokerages have recently raised their price targets for Brinker International, with an average target of $171.41 reflecting a generally positive outlook among analysts.

Deutsche Bank AG trimmed its stake in Brinker International, Inc. (NYSE:EAT - Free Report) by 36.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,567 shares of the restaurant operator's stock after selling 42,463 shares during the period. Deutsche Bank AG owned 0.17% of Brinker International worth $11,114,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of EAT. Coppell Advisory Solutions LLC purchased a new position in Brinker International during the 4th quarter valued at about $26,000. Farther Finance Advisors LLC grew its stake 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 worth $29,000 after acquiring an additional 161 shares during the period. Financial Management Professionals Inc. bought a new stake in shares of Brinker International in the first quarter worth approximately $30,000. Continuum Advisory LLC grew its stake in shares of Brinker International by 1,714.3% in the first quarter. Continuum Advisory LLC now owns 254 shares of the restaurant operator's stock worth $38,000 after acquiring an additional 240 shares during the period. Finally, Quarry LP bought a new stake in Brinker International during the fourth quarter valued at approximately $48,000.

Insider Activity

In related news, Director Harriet Edelman sold 8,325 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $157.00, for a total value of $1,307,025.00. Following the completion of the transaction, the director directly owned 28,905 shares of the company's stock, valued at $4,538,085. This trade represents a 22.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph Michael Depinto sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $170.36, for a total transaction of $1,703,600.00. Following the completion of the transaction, the director directly owned 99,297 shares of the company's stock, valued at $16,916,236.92. The trade was a 9.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.72% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EAT. Evercore ISI boosted their target price on shares of Brinker International from $180.00 to $190.00 and gave the company an "in-line" rating in a research report on Thursday. Morgan Stanley boosted their target price on shares of Brinker International from $149.00 to $161.00 and gave the stock an "equal weight" rating in a report on Thursday. Stifel Nicolaus upped their price target on shares of Brinker International from $200.00 to $215.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. BMO Capital Markets upped their price target on shares of Brinker International from $150.00 to $170.00 and gave the company a "market perform" rating in a research note on Thursday. Finally, UBS Group boosted their price objective on shares of Brinker International from $155.00 to $165.00 and gave the company a "neutral" rating in a research report on Thursday. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $171.41.

Brinker International Stock Down 2.3%

Brinker International stock traded down $3.59 during midday trading on Monday, hitting $154.58. 736,540 shares of the company's stock were exchanged, compared to its average volume of 1,495,172. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.23 and a current ratio of 0.31. Brinker International, Inc. has a 12 month low of $65.38 and a 12 month high of $192.21. The firm has a 50-day moving average of $167.98 and a two-hundred day moving average of $158.10. The company has a market cap of $6.87 billion, a PE ratio of 18.60, a P/E/G ratio of 1.00 and a beta of 1.68.

Brinker International (NYSE:EAT - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The restaurant operator reported $2.49 EPS for the quarter, beating the consensus estimate of $2.47 by $0.02. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.42 billion. Brinker International had a net margin of 7.12% and a return on equity of 211.86%. The company's quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.61 earnings per share. As a group, analysts expect that Brinker International, Inc. will post 8.3 earnings per share for the current fiscal year.

About Brinker International

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.