Corient Private Wealth LP Trims Stake in Brinker International, Inc. $EAT

Key Points

• Corient Private Wealth LP cut its Brinker International stake by 71.2% in the second quarter, selling 15,465 shares and retaining 6,241 shares valued at approximately $1.05 million. Several other institutional investors increased their positions or initiated new stakes.
• Brinker insiders have been selling shares, including CEO Kevin Hochman’s $9.7 million sale and SVP James Butler’s $2.4 million sale. Insiders sold approximately $41.6 million worth of stock over the past 90 days.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $243.38. The company recently reported revenue growth of 5.1% year over year, though quarterly EPS of $3.07 narrowly missed estimates.

Corient Private Wealth LP lessened its stake in Brinker International, Inc. (NYSE:EAT - Free Report) by 71.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,241 shares of the restaurant operator's stock after selling 15,465 shares during the quarter. Corient Private Wealth LP's holdings in Brinker International were worth $1,049,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Amundi raised its position in shares of Brinker International by 23.8% during the second quarter. Amundi now owns 22,575 shares of the restaurant operator's stock worth $3,793,000 after purchasing an additional 4,346 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Brinker International during the 2nd quarter worth $3,153,000. Nilsine Partners LLC increased its holdings in shares of Brinker International by 3.5% during the second quarter. Nilsine Partners LLC now owns 19,541 shares of the restaurant operator's stock worth $3,283,000 after purchasing an additional 665 shares during the period. Concurrent Investment Advisors LLC lifted its position in shares of Brinker International by 5.7% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 4,528 shares of the restaurant operator's stock valued at $761,000 after acquiring an additional 246 shares during the period. Finally, AXQ Capital LP bought a new position in Brinker International in the 2nd quarter valued at about $586,000.

Insiders Place Their Bets

In other news, SVP James Butler sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $240.37, for a total value of $2,403,700.00. Following the transaction, the senior vice president owned 9,064 shares in the company, valued at $2,178,713.68. This trade represents a 52.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kevin Hochman sold 40,000 shares of Brinker International stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $243.15, for a total value of $9,726,000.00. Following the transaction, the chief executive officer directly owned 144,090 shares in the company, valued at approximately $35,035,483.50. The trade was a 21.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 173,694 shares of company stock worth $41,568,690 in the last 90 days. Company insiders own 1.43% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on EAT. Mizuho boosted their price target on Brinker International from $175.00 to $275.00 and gave the stock an "outperform" rating in a report on Thursday, August 13th. Freedom Broker upgraded shares of Brinker International to a "strong-buy" rating in a research report on Friday, September 18th. UBS Group increased their target price on Brinker International from $190.00 to $260.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Morgan Stanley lifted their price target on Brinker International from $250.00 to $260.00 and gave the company an "overweight" rating in a research note on Thursday, September 10th. Finally, Citigroup raised their price target on shares of Brinker International from $227.00 to $282.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Brinker International presently has an average rating of "Moderate Buy" and a consensus target price of $243.38.

Brinker International Stock Up 0.2%

Shares of NYSE EAT opened at $207.09 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.45 and a debt-to-equity ratio of 0.95. The firm has a market cap of $8.65 billion, a PE ratio of 19.02, a P/E/G ratio of 1.07 and a beta of 1.25. The company's fifty day simple moving average is $219.27 and its 200 day simple moving average is $175.20. Brinker International, Inc. has a 12-month low of $100.30 and a 12-month high of $254.99.

Brinker International (NYSE:EAT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The restaurant operator reported $3.07 earnings per share for the quarter, missing the consensus estimate of $3.09 by ($0.02). Brinker International had a net margin of 8.39% and a return on equity of 122.35%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the company posted $2.30 EPS. Brinker International's revenue for the quarter was up 5.1% on a year-over-year basis. Brinker International has set its FY 2027 guidance at 12.600-13.400 EPS. As a group, sell-side analysts forecast that Brinker International, Inc. will post 13.18 earnings per share for the current fiscal year.

Brinker International Company Profile

Brinker International, Inc is a Dallas-based restaurant company that owns, operates and franchises casual dining restaurants. Its portfolio includes Chili's Grill & Bar, a full-service restaurant brand known for burgers, fajitas, ribs, steaks, Tex-Mex dishes and a broad beverage menu, and Maggiano's Little Italy, which specializes in Italian-American cuisine and family-style dining.

Chili's restaurants serve a wide range of lunch and dinner offerings in a casual, bar-and-grill setting, while Maggiano's locations offer traditional Italian dishes, including pasta, chicken, seafood and desserts.

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