Federated Hermes Inc. Sells 5,592 Shares of Brinker International, Inc. (NYSE:EAT)

Key Points

• Federated Hermes Inc. reduced its stake in Brinker International by 7.1% during the first quarter, owning 0.16% of the company which is worth approximately $10.85 million.
• Other institutional investors have made significant changes to their holdings, including Price T Rowe Associates which increased its stake by 3,277.5% during the fourth quarter.
• Brinker International has received mixed ratings from analysts, with a consensus rating of "Hold" and an average price target of $156.41.

Federated Hermes Inc. decreased its holdings in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 7.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,797 shares of the restaurant operator's stock after selling 5,592 shares during the period. Federated Hermes Inc. owned about 0.16% of Brinker International worth $10,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in shares of Brinker International by 3,277.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 987,334 shares of the restaurant operator's stock worth $130,615,000 after acquiring an additional 958,101 shares during the period. Balyasny Asset Management L.P. acquired a new position in Brinker International during the fourth quarter valued at $82,408,000. Northern Trust Corp lifted its position in Brinker International by 10.2% during the fourth quarter. Northern Trust Corp now owns 512,613 shares of the restaurant operator's stock valued at $67,814,000 after purchasing an additional 47,378 shares during the period. Invesco Ltd. lifted its position in Brinker International by 14.6% during the fourth quarter. Invesco Ltd. now owns 489,723 shares of the restaurant operator's stock valued at $64,785,000 after purchasing an additional 62,265 shares during the period. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in Brinker International in the fourth quarter valued at $61,929,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays boosted their price target on shares of Brinker International from $155.00 to $166.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. increased their target price on shares of Brinker International from $160.00 to $180.00 and gave the company a "neutral" rating in a research report on Wednesday, June 25th. Citigroup lowered 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 report on Thursday, April 10th. Wells Fargo & Company raised their target price on shares of Brinker International from $150.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Finally, Morgan Stanley raised their price objective on shares of Brinker International from $144.00 to $149.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Thirteen analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $156.41.

Insider Buying and Selling at Brinker International

In related news, COO Douglas N. Comings sold 2,350 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $135.91, for a total value of $319,388.50. Following the sale, the chief operating officer directly owned 20,591 shares in the company, valued at $2,798,522.81. This trade represents a 10.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Michael Depinto sold 10,000 shares of the firm's stock in a transaction that occurred 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 transaction, the director directly owned 99,297 shares of the company's stock, 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. In the last three months, insiders have sold 13,127 shares of company stock worth $2,128,062. Company insiders own 1.72% of the company's stock.

Brinker International Price Performance

NYSE EAT traded up $4.64 on Monday, hitting $160.55. 816,951 shares of the company were exchanged, compared to its average volume of 1,332,739. The firm has a 50 day moving average of $170.33 and a two-hundred day moving average of $158.07. The company has a market cap of $7.14 billion, a P/E ratio of 19.44, a P/E/G ratio of 0.37 and a beta of 1.68. 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 $192.21.

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.