1,969 Shares in Brinker International, Inc. (NYSE:EAT) Purchased by DAVENPORT & Co LLC

DAVENPORT & Co LLC bought a new stake in Brinker International, Inc. (NYSE:EAT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,969 shares of the restaurant operator's stock, valued at approximately $294,000.

Other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings 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 valued at $29,000 after purchasing an additional 161 shares in the last quarter. Coppell Advisory Solutions LLC purchased a new stake in shares of Brinker International during the fourth quarter worth $26,000. Financial Management Professionals Inc. purchased a new stake in shares of Brinker International during the first quarter worth $30,000. Continuum Advisory LLC raised its holdings in shares of Brinker International by 1,714.3% during 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 in the last quarter. Finally, Quarry LP purchased a new stake in shares of Brinker International during the fourth quarter worth $48,000.

Insider Activity

In other news, Director Ramona Hood sold 777 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $135.23, for a total value of $105,073.71. Following the sale, the director directly owned 8,568 shares of the company's stock, valued at approximately $1,158,650.64. This trade represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Michael Depinto sold 10,000 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $170.36, for a total value of $1,703,600.00. Following the completion of 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,127 shares of company stock valued at $2,128,062. 1.72% of the stock is owned by insiders.

Analysts Set New Price Targets

EAT has been the subject of several recent research reports. Barclays cut their price objective on Brinker International from $165.00 to $155.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company cut their price objective on Brinker International from $165.00 to $150.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. Citigroup cut their price objective on Brinker International from $185.00 to $170.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. increased their price objective on Brinker International from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Wednesday, June 25th. Finally, Stifel Nicolaus increased their price objective on Brinker International from $200.00 to $215.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $148.41.

Brinker International Stock Performance

Shares of NYSE:EAT traded down $0.45 during midday trading on Thursday, hitting $168.74. The company's stock had a trading volume of 217,193 shares, compared to its average volume of 1,473,174. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 0.44 and a beta of 1.70. The stock's 50 day simple moving average is $164.17 and its 200 day simple moving average is $155.03. Brinker International, Inc. has a fifty-two week low of $56.27 and a fifty-two week high of $192.22. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.23 and a current ratio of 0.28.

Brinker International (NYSE:EAT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The restaurant operator reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.18. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.38 billion. Brinker International had a return on equity of 333.03% and a net margin of 6.50%. The firm's revenue was up 27.2% compared to the same quarter last year. During the same period last year, the business posted $1.24 earnings per share. As a group, research analysts anticipate that Brinker International, Inc. will post 8.3 earnings per share for the current year.

Brinker International 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.