Edgestream Partners L.P. Cuts Position in Brinker International, Inc. (NYSE:EAT)

Edgestream Partners L.P. cut its holdings in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,684 shares of the restaurant operator's stock after selling 1,905 shares during the period. Edgestream Partners L.P. owned approximately 0.06% of Brinker International worth $3,828,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EAT. Raymond James Financial Inc. purchased a new stake in shares of Brinker International during the 4th quarter valued at $6,507,000. PNC Financial Services Group Inc. increased its stake in shares of Brinker International by 93.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,164 shares of the restaurant operator's stock worth $948,000 after purchasing an additional 3,470 shares during the last quarter. Swiss National Bank raised its holdings in shares of Brinker International by 1.3% in the 4th quarter. Swiss National Bank now owns 88,100 shares of the restaurant operator's stock worth $11,655,000 after purchasing an additional 1,100 shares during the period. Cibc World Markets Corp bought a new stake in shares of Brinker International in the 4th quarter worth approximately $546,000. Finally, Intech Investment Management LLC raised its holdings in shares of Brinker International by 327.4% in the 4th quarter. Intech Investment Management LLC now owns 103,019 shares of the restaurant operator's stock worth $13,628,000 after purchasing an additional 78,917 shares during the period.

Insider Transactions at Brinker International

In other news, Director Ramona Hood sold 777 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $135.23, for a total value of $105,073.71. Following the transaction, the director 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph Michael Depinto sold 10,000 shares of the company's stock in a transaction on 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 completion of the transaction, the director owned 99,297 shares of the company's stock, valued at $16,916,236.92. This trade represents a 9.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,127 shares of company stock valued at $2,128,062. 1.72% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

EAT has been the topic of a number of research reports. Bank of America lifted their price target on shares of Brinker International from $185.00 to $186.00 and gave the stock a "neutral" rating in a report on Friday. Morgan Stanley lifted their price target on shares of Brinker International from $144.00 to $149.00 and gave the stock an "equal weight" rating in a report on Monday. Barclays lifted their price target on shares of Brinker International from $155.00 to $166.00 and gave the stock an "equal weight" rating in a report on Thursday. Citigroup lowered their price target on shares of Brinker International from $185.00 to $170.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Brinker International from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Wednesday, June 25th. Thirteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $156.41.

Brinker International Price Performance

Shares of Brinker International stock traded down $2.81 during trading on Friday, hitting $162.32. The stock had a trading volume of 318,354 shares, compared to its average volume of 1,504,576. The firm has a market cap of $7.22 billion, a price-to-earnings ratio of 22.39, a P/E/G ratio of 0.43 and a beta of 1.70. Brinker International, Inc. has a 12 month low of $56.27 and a 12 month high of $192.21. The business's 50-day moving average is $168.00 and its 200 day moving average is $156.30. 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 (NYSE:EAT - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The restaurant operator reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.18. The firm 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 business's quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 earnings per share. As a group, sell-side analysts anticipate that Brinker International, Inc. will post 8.3 earnings per share for the current year.

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.