Harbor Capital Advisors Inc. Lowers Position in Brinker International, Inc. $EAT

Key Points

• Harbor Capital Advisors Inc. reduced its stake in Brinker International by 11.5% during Q2, now holding a position valued at approximately $8.08 million.
• Several hedge funds have increased their holdings in Brinker International, with Westfield Capital Management boosting its stake by 102% to become a major shareholder.
• Brinker International's stock has been well received by analysts, with multiple firms raising their target prices to between $165 and $210, and a consensus rating of "Hold."

Harbor Capital Advisors Inc. trimmed its holdings in Brinker International, Inc. (NYSE:EAT - Free Report) by 11.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 44,819 shares of the restaurant operator's stock after selling 5,813 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.10% of Brinker International worth $8,082,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Reyes Financial Architecture Inc. acquired a new stake in shares of Brinker International during the 2nd quarter worth about $110,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Brinker International during the second quarter worth about $13,921,000. Range Financial Group LLC increased its position in shares of Brinker International by 2.2% during the second quarter. Range Financial Group LLC now owns 7,103 shares of the restaurant operator's stock valued at $1,281,000 after acquiring an additional 151 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Brinker International by 13.4% during the first quarter. Voya Investment Management LLC now owns 16,513 shares of the restaurant operator's stock valued at $2,461,000 after acquiring an additional 1,956 shares during the last quarter. Finally, Invst LLC purchased a new stake in shares of Brinker International in the 1st quarter valued at approximately $541,000.

Brinker International Stock Down 2.0%

NYSE:EAT traded down $2.83 during midday trading on Friday, hitting $136.04. 2,374,566 shares of the company were exchanged, compared to its average volume of 1,178,672. The company has a current ratio of 0.31, a quick ratio of 0.25 and a debt-to-equity ratio of 1.15. Brinker International, Inc. has a fifty-two week low of $74.73 and a fifty-two week high of $192.21. The company has a market capitalization of $6.05 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 0.88 and a beta of 1.43. The company has a fifty day simple moving average of $156.23 and a 200 day simple moving average of $156.12.

Brinker International (NYSE:EAT - Get Free Report) last announced its earnings results on Wednesday, August 13th. The restaurant operator reported $2.49 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.42 billion. During the same period in the previous year, the company posted $1.61 EPS. The company's quarterly 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 anticipate that Brinker International, Inc. will post 8.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

EAT has been the subject of a number of research analyst reports. Bank of America increased their price objective on shares of Brinker International from $186.00 to $190.00 and gave the stock a "neutral" rating in a research report on Thursday, August 14th. BMO Capital Markets raised their price target on Brinker International from $150.00 to $170.00 and gave the stock a "market perform" rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. lifted their price objective on Brinker International from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Wednesday, June 25th. Wall Street Zen lowered Brinker International from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. Finally, Wells Fargo & Company lifted their target price on Brinker International from $150.00 to $165.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Five research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $172.59.

Insider Buying and Selling at Brinker International

In other Brinker International news, Director Harriet Edelman sold 8,325 shares of the 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 sale, the director owned 28,905 shares in the company, valued at approximately $4,538,085. This represents a 22.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Douglas N. Comings sold 16,000 shares of the company's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $156.48, for a total value of $2,503,680.00. Following the completion of the sale, the chief operating officer owned 12,951 shares in the company, valued at $2,026,572.48. This represents a 55.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,325 shares of company stock valued at $10,754,785. 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.