DAVENPORT & Co LLC Takes $294,000 Position in Brinker International, Inc. (NYSE:EAT)

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

Several other institutional investors have also added to or reduced their stakes in the company. Coppell Advisory Solutions LLC bought a new stake in shares of Brinker International during the fourth quarter worth $26,000. Farther Finance Advisors LLC grew its stake in shares of Brinker International by 575.0% during the first quarter. Farther Finance Advisors LLC now owns 189 shares of the restaurant operator's stock worth $29,000 after buying an additional 161 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in shares of Brinker International during the first quarter worth $30,000. Continuum Advisory LLC grew its stake 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 buying an additional 240 shares during the last quarter. Finally, Quarry LP bought 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 company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $135.23, for a total transaction of $105,073.71. Following the transaction, the director owned 8,568 shares in the company, valued at approximately $1,158,650.64. This represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Michael Depinto sold 10,000 shares of the company's stock in a transaction dated 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 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. Over the last 90 days, insiders have sold 13,127 shares of company stock worth $2,128,062. Company insiders own 1.72% of the company's stock.

Analyst Ratings Changes

EAT has been the topic of several analyst reports. Barclays reduced their price objective on shares of Brinker International from $165.00 to $155.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Citigroup reduced their price objective on shares of Brinker International from $185.00 to $170.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Stifel Nicolaus boosted their price objective on shares of Brinker International from $200.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Wells Fargo & Company reduced their price objective on shares of Brinker International from $165.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Brinker International from $160.00 to $180.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 25th. Thirteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $148.41.

Brinker International Trading Down 1.1%

EAT stock traded down $1.76 during midday trading on Friday, hitting $164.95. The stock had a trading volume of 1,426,028 shares, compared to its average volume of 1,469,232. The firm has a market cap of $7.33 billion, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 0.43 and a beta of 1.70. The company has a current ratio of 0.28, a quick ratio of 0.23 and a debt-to-equity ratio of 2.00. Brinker International, Inc. has a 1-year low of $56.27 and a 1-year high of $192.22. The business has a fifty day moving average price of $165.54 and a two-hundred day moving average price of $155.58.

Brinker International (NYSE:EAT - Get Free Report) last released its 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. Brinker International had a net margin of 6.50% and a return on equity of 333.03%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the business earned $1.24 earnings per share. Brinker International's revenue for the quarter was up 27.2% on a year-over-year basis. On average, sell-side analysts predict that Brinker International, Inc. will post 8.3 earnings per share for the current fiscal year.

About Brinker International

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.