Brinker International, Inc. (NYSE:EAT) Stock Holdings Boosted by Westfield Capital Management Co. LP

Key Points

• Westfield Capital Management Co. LP increased its stake in Brinker International by 102.0% in the first quarter, now holding 995,713 shares valued at approximately $148.4 million.
• Analysts have raised their price targets for Brinker International, with Barclays setting a new target of $166.00 and Stifel Nicolaus at $215.00, indicating a positive outlook on the stock.
• Insider trading activity included COO Douglas N. Comings selling 2,350 shares and Director Joseph Michael Depinto selling 10,000 shares, reflecting notable changes in ownership among company executives.

Westfield Capital Management Co. LP lifted its position in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 102.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 995,713 shares of the restaurant operator's stock after acquiring an additional 502,897 shares during the period. Westfield Capital Management Co. LP owned 2.24% of Brinker International worth $148,411,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Brinker International in the fourth quarter worth about $21,549,000. Alliancebernstein L.P. lifted its holdings in Brinker International by 8.1% in the fourth quarter. Alliancebernstein L.P. now owns 55,221 shares of the restaurant operator's stock worth $7,305,000 after purchasing an additional 4,119 shares during the period. Thoroughbred Financial Services LLC acquired a new stake in Brinker International in the fourth quarter worth about $268,000. Wells Fargo & Company MN lifted its holdings in Brinker International by 17.1% in the fourth quarter. Wells Fargo & Company MN now owns 62,196 shares of the restaurant operator's stock worth $8,228,000 after purchasing an additional 9,062 shares during the period. Finally, Wedbush Securities Inc. acquired a new stake in Brinker International in the fourth quarter worth about $335,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on EAT shares. Barclays upped their price objective on shares of Brinker International from $155.00 to $166.00 and gave the stock an "equal weight" rating in a 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 company an "equal weight" rating in a 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 company a "buy" rating in a 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 company a "neutral" rating in a report on Friday, July 18th. Finally, Morgan Stanley upped their price target on shares of Brinker International from $144.00 to $149.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Thirteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $156.41.

Brinker International Price Performance

Shares of EAT opened at $155.71 on Monday. The company has a market capitalization of $6.92 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 0.37 and a beta of 1.68. Brinker International, Inc. has a fifty-two week low of $56.27 and a fifty-two week high of $192.21. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.28 and a quick ratio of 0.23. The business's 50-day moving average is $170.33 and its 200-day moving average is $158.07.

Insider Activity

In related news, COO Douglas N. Comings sold 2,350 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $135.91, for a total value of $319,388.50. Following the transaction, the chief operating officer owned 20,591 shares in the company, valued at approximately $2,798,522.81. This represents a 10.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph Michael Depinto sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was 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 owned 99,297 shares in the company, valued at $16,916,236.92. This represents a 9.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,127 shares of company stock worth $2,128,062 in the last 90 days. 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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