Brinker International, Inc. (NYSE:EAT) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE reduced its holdings in Brinker International by 69.0% during the first quarter, selling 6,298 shares and maintaining a total of 2,834 shares valued at approximately $422,000.
• Multiple institutional investors, including Coppell Advisory Solutions LLC and Continuum Advisory LLC, have recently altered their positions in Brinker International, with some increasing their stakes significantly.
• Analysts have upgraded their price targets for Brinker International, with Barclays setting a new price target of $166.00 and several other firms also raising their targets and maintaining "equal weight" or "neutral" ratings.

US Bancorp DE lessened its stake in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 69.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,834 shares of the restaurant operator's stock after selling 6,298 shares during the quarter. US Bancorp DE's holdings in Brinker International were worth $422,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in shares of Brinker International by 3,277.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 987,334 shares of the restaurant operator's stock valued at $130,615,000 after buying an additional 958,101 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Brinker International during the fourth quarter valued at approximately $82,408,000. Northern Trust Corp boosted its position in Brinker International by 10.2% during the 4th quarter. Northern Trust Corp now owns 512,613 shares of the restaurant operator's stock valued at $67,814,000 after acquiring an additional 47,378 shares in the last quarter. Invesco Ltd. raised its position in shares of Brinker International by 14.6% in the 4th quarter. Invesco Ltd. now owns 489,723 shares of the restaurant operator's stock worth $64,785,000 after acquiring an additional 62,265 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new position in shares of Brinker International in the 4th quarter worth $61,929,000.

Analysts Set New Price Targets

A number of brokerages have commented on EAT. BMO Capital Markets boosted their target price on shares of Brinker International from $150.00 to $170.00 and gave the stock a "market perform" rating in a report on Thursday. Piper Sandler boosted their target price on shares of Brinker International from $155.00 to $168.00 and gave the stock a "neutral" rating in a report on Thursday. Wells Fargo & Company upped their price objective on shares of Brinker International from $150.00 to $165.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. UBS Group upped their price objective on shares of Brinker International from $155.00 to $165.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Bank of America upped their price objective on shares of Brinker International from $186.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Brinker International has an average rating of "Hold" and a consensus target price of $171.41.

Insider Buying and Selling at Brinker International

In related news, Director Joseph Michael Depinto sold 10,000 shares of the company's 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.72% of the company's stock.

Brinker International Price Performance

Shares of Brinker International stock traded up $0.45 on Thursday, hitting $157.83. 1,812,302 shares of the company were exchanged, compared to its average volume of 1,407,687. The company has a 50-day moving average price of $168.26 and a 200 day moving average price of $158.40. The company has a quick ratio of 0.23, a current ratio of 0.31 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $7.02 billion, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 0.36 and a beta of 1.68. Brinker International, Inc. has a 1-year low of $65.26 and a 1-year high of $192.21.

Brinker International (NYSE:EAT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The restaurant operator reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.02. The firm had revenue of $1.46 billion for 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%. Brinker International's revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.61 EPS. As a group, sell-side analysts predict that Brinker International, Inc. will post 8.3 earnings per share for the current fiscal year.

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.