Goldman Sachs Group Inc. Sells 557,872 Shares of Brinker International, Inc. $EAT

Key Points

• Goldman Sachs Group Inc. reduced its stake in Brinker International by 47.4% in the first quarter, selling 557,872 shares, resulting in ownership of approximately 1.39% of the company.
• Brinker International recently announced a quarterly earnings report, beating analysts' expectations with an EPS of $2.49 and revenues of $1.46 billion, marking a 21% year-over-year revenue increase.
• Several analysts raised their price targets for Brinker International, with Barclays and BMO Capital Markets setting new targets of $170.00 and $170.00 respectively, while the consensus rating remains a "Hold".

Goldman Sachs Group Inc. cut its holdings in Brinker International, Inc. (NYSE:EAT - Free Report) by 47.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 619,757 shares of the restaurant operator's stock after selling 557,872 shares during the period. Goldman Sachs Group Inc. owned 1.39% of Brinker International worth $92,375,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of EAT. Farther Finance Advisors LLC lifted its position in Brinker International by 575.0% during the first quarter. Farther Finance Advisors LLC now owns 189 shares of the restaurant operator's stock valued at $29,000 after purchasing an additional 161 shares in the last quarter. Financial Management Professionals Inc. purchased a new position in shares of Brinker International during the 1st quarter valued at about $30,000. Continuum Advisory LLC lifted its position in shares of Brinker International by 1,714.3% during the 1st quarter. Continuum Advisory LLC now owns 254 shares of the restaurant operator's stock valued at $38,000 after buying an additional 240 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Brinker International by 227.3% during the 1st quarter. National Bank of Canada FI now owns 252 shares of the restaurant operator's stock valued at $38,000 after acquiring an additional 175 shares during the period. Finally, Virtus Advisers LLC purchased a new stake in Brinker International in the 1st quarter worth approximately $54,000.

Insider Buying and Selling at Brinker International

In other news, COO Douglas N. Comings sold 16,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $156.48, for a total transaction of $2,503,680.00. Following the completion of the transaction, the chief operating officer directly owned 12,951 shares in the company, valued at approximately $2,026,572.48. This represents a 55.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harriet Edelman sold 8,325 shares of the business's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $157.00, for a total transaction of $1,307,025.00. Following the completion of the sale, the director owned 28,905 shares in the company, valued at $4,538,085. This represents a 22.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,325 shares of company stock worth $10,754,785 in the last quarter. 1.72% of the stock is owned by corporate insiders.

Brinker International Price Performance

NYSE EAT traded down $0.79 on Monday, reaching $152.88. The company had a trading volume of 1,638,969 shares, compared to its average volume of 1,084,721. The stock has a market capitalization of $6.80 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 0.98 and a beta of 1.43. Brinker International, Inc. has a 12 month low of $70.43 and a 12 month high of $192.21. The company has a quick ratio of 0.25, a current ratio of 0.31 and a debt-to-equity ratio of 1.15. The firm's 50 day moving average price is $158.42 and its 200 day moving average price is $156.53.

Brinker International (NYSE:EAT - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The restaurant operator reported $2.49 EPS for the quarter, beating the consensus estimate of $2.47 by $0.02. Brinker International had a net margin of 7.12% and a return on equity of 211.86%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the firm earned $1.61 EPS. The business's revenue was up 21.0% on a year-over-year basis. Brinker International has set its FY 2026 guidance at 9.900-10.50 EPS. As a group, equities analysts predict that Brinker International, Inc. will post 8.3 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Barclays lifted their price target on shares of Brinker International from $166.00 to $170.00 and gave the company an "equal weight" rating in a report on Thursday, August 14th. Wall Street Zen cut shares of Brinker International from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. BMO Capital Markets increased their price target on Brinker International from $150.00 to $170.00 and gave the stock a "market perform" rating in a research note on Thursday, August 14th. Evercore ISI raised Brinker International from an "in-line" rating to an "outperform" rating and raised their price target for the company from $190.00 to $210.00 in a report on Thursday, September 4th. Finally, JPMorgan Chase & Co. upped their price objective on Brinker International from $160.00 to $180.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 25th. Five research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $172.59.

Brinker International 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.