California State Teachers Retirement System Boosts Stake in Brinker International, Inc. $EAT

Key Points

• California State Teachers Retirement System increased its Brinker International stake by 22.7% in the first quarter, owning 51,594 shares valued at approximately $7.4 million.
• Several major institutions also expanded their positions, including UBS Group, Balyasny Asset Management, Capital World Investors and Samlyn Capital; Norges Bank initiated a new stake.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $193.25. Brinker shares opened at $217.95, near their 52-week high of $225.50.

California State Teachers Retirement System grew its position in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 22.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 51,594 shares of the restaurant operator's stock after acquiring an additional 9,562 shares during the quarter. California State Teachers Retirement System owned about 0.12% of Brinker International worth $7,366,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. UBS Group AG lifted its position in Brinker International by 103.2% in the fourth quarter. UBS Group AG now owns 2,975,655 shares of the restaurant operator's stock worth $427,066,000 after buying an additional 1,511,266 shares during the last quarter. Balyasny Asset Management L.P. increased its position in Brinker International by 667.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,142,263 shares of the restaurant operator's stock valued at $163,938,000 after acquiring an additional 993,435 shares during the last quarter. Norges Bank purchased a new stake in shares of Brinker International in the fourth quarter valued at $83,603,000. Capital World Investors raised its stake in shares of Brinker International by 96.5% in the fourth quarter. Capital World Investors now owns 1,137,863 shares of the restaurant operator's stock valued at $163,306,000 after acquiring an additional 558,799 shares during the period. Finally, Samlyn Capital LLC lifted its holdings in shares of Brinker International by 104.9% in the 3rd quarter. Samlyn Capital LLC now owns 878,584 shares of the restaurant operator's stock worth $111,299,000 after acquiring an additional 449,871 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have recently commented on EAT. Wells Fargo & Company upped their target price on Brinker International from $200.00 to $220.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Stephens assumed coverage on shares of Brinker International in a research note on Friday, July 17th. They issued an "overweight" rating and a $220.00 target price for the company. Barclays upped their target price on Brinker International from $170.00 to $175.00 and gave the company an "equal weight" rating in a research report on Thursday, April 30th. Morgan Stanley lifted their price objective on shares of Brinker International from $205.00 to $207.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Finally, Citigroup upped their target price on Brinker International from $189.00 to $227.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $193.25.

Brinker International Price Performance

NYSE:EAT opened at $217.95 on Wednesday. Brinker International, Inc. has a one year low of $100.30 and a one year high of $225.50. The stock has a market cap of $9.35 billion, a PE ratio of 21.37, a P/E/G ratio of 1.34 and a beta of 1.24. The stock has a 50 day moving average price of $172.44 and a 200 day moving average price of $156.80. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.35 and a current ratio of 0.40.

About Brinker International

Brinker International, Inc NYSE: EAT is a leading global operator of casual dining restaurants. The company's portfolio is anchored by its flagship Chili's® Grill & Bar concept and Maggiano's® Little Italy full‐service restaurants, offering a range of American‐style menu items, handcrafted cocktails and family‐friendly dining experiences. Through dine‐in, takeout, delivery and catering services, Brinker seeks to meet consumer preferences across multiple channels.

The Chili's brand features signature items such as baby back ribs, burgers and fajitas alongside a rotating selection of limited‐time offerings and seasonal beverages.

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