Empowered Funds LLC Acquires 14,991 Shares of Brinker International, Inc. $EAT

Key Points

• Empowered Funds LLC increased its Brinker International stake by 25.6% in the first quarter, purchasing 14,991 additional shares and ending with 73,628 shares valued at approximately $10.5 million.
• Analysts remain broadly positive, with Brinker holding a “Moderate Buy” consensus rating and an average price target of $193.25; several firms recently raised their targets, including Citigroup to $227 and Wells Fargo to $220.
• Brinker reported quarterly EPS of $2.90, exceeding estimates of $2.85, while revenue reached $1.47 billion, up 3.2% year over year. Shares opened at $210.07, near the company’s 52-week high of $210.24.

Empowered Funds LLC increased its holdings in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 25.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 73,628 shares of the restaurant operator's stock after purchasing an additional 14,991 shares during the period. Empowered Funds LLC owned approximately 0.17% of Brinker International worth $10,512,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its holdings in shares of Brinker International by 1,118.9% during the 1st quarter. NewEdge Advisors LLC now owns 1,158 shares of the restaurant operator's stock worth $173,000 after buying an additional 1,063 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Brinker International by 271.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 846 shares of the restaurant operator's stock valued at $153,000 after acquiring an additional 618 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Brinker International by 1.9% in the 2nd quarter. First Trust Advisors LP now owns 52,249 shares of the restaurant operator's stock valued at $9,422,000 after acquiring an additional 978 shares in the last quarter. Baird Financial Group Inc. acquired a new position in shares of Brinker International during the 2nd quarter valued at $3,222,000. Finally, Brown Advisory Inc. lifted its position in shares of Brinker International by 33.0% during the 2nd quarter. Brown Advisory Inc. now owns 1,789 shares of the restaurant operator's stock valued at $323,000 after acquiring an additional 444 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have commented on EAT shares. Wells Fargo & Company raised their price target on shares of Brinker International from $200.00 to $220.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. Morgan Stanley upped their price objective on shares of Brinker International from $205.00 to $207.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Citigroup increased their price objective on shares of Brinker International from $189.00 to $227.00 and gave the stock a "buy" rating in a research report on Tuesday. Barclays raised their target price on Brinker International from $170.00 to $175.00 and gave the company an "equal weight" rating in a research note on Thursday, April 30th. Finally, TD Cowen boosted their target price on Brinker International from $170.00 to $210.00 and gave the company a "buy" rating in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Brinker International presently has an average rating of "Moderate Buy" and a consensus target price of $193.25.

Brinker International Price Performance

Shares of NYSE EAT opened at $210.07 on Friday. The stock has a market cap of $9.01 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 1.22 and a beta of 1.24. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.35 and a current ratio of 0.40. Brinker International, Inc. has a fifty-two week low of $100.30 and a fifty-two week high of $210.24. The firm's 50-day simple moving average is $167.57 and its 200 day simple moving average is $155.69.

Brinker International (NYSE:EAT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The restaurant operator reported $2.90 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.05. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.47 billion. Brinker International had a return on equity of 123.22% and a net margin of 8.07%.The company's revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.66 EPS. As a group, research analysts anticipate that Brinker International, Inc. will post 10.76 earnings per share for the current fiscal year.

Brinker International Profile

Brinker International, Inc NYSE: EAT is a leading global operator of casual dining restaurants. The company's portfolio is anchored by its flagship Chili's® Grill & Bar concept and Maggiano's® Little Italy full‐service restaurants, offering a range of American‐style menu items, handcrafted cocktails and family‐friendly dining experiences. Through dine‐in, takeout, delivery and catering services, Brinker seeks to meet consumer preferences across multiple channels.

The Chili's brand features signature items such as baby back ribs, burgers and fajitas alongside a rotating selection of limited‐time offerings and seasonal beverages.

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