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

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

A number of other institutional investors have also recently added to or reduced their stakes in EAT. Coppell Advisory Solutions LLC acquired a new position in shares of Brinker International during the fourth quarter worth approximately $26,000. Farther Finance Advisors LLC grew its position in Brinker International by 575.0% in 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. acquired a new position in Brinker International in the 1st quarter worth approximately $30,000. Continuum Advisory LLC boosted its stake in Brinker International by 1,714.3% in the 1st quarter. Continuum Advisory LLC now owns 254 shares of the restaurant operator's stock worth $38,000 after purchasing an additional 240 shares during the period. Finally, Quarry LP acquired a new stake in shares of Brinker International during the 4th quarter valued at $48,000.

Brinker International Stock Performance

Brinker International stock traded down $1.76 on Friday, reaching $164.95. 1,419,607 shares of the stock were exchanged, compared to its average volume of 1,475,259. The firm has a fifty day moving average price of $164.91 and a two-hundred day moving average price of $155.27. The stock has a market cap of $7.33 billion, a PE ratio of 22.75, a PEG ratio of 0.44 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 twelve month low of $56.27 and a twelve month high of $192.22.

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

Analyst Upgrades and Downgrades

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

Insider Activity at Brinker International

In other Brinker International 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 sale, the director directly owned 8,568 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $170.36, for a total transaction of $1,703,600.00. Following the sale, the director directly owned 99,297 shares in the company, valued at $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. Insiders have sold a total of 13,127 shares of company stock valued at $2,128,062 over the last quarter. 1.72% of the stock is owned by company insiders.

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.