Harvest Fund Management Co. Ltd Sells 4,481 Shares of Brinker International, Inc. (NYSE:EAT)

Key Points

• Harvest Fund Management Co. Ltd has reduced its stake in Brinker International by 60.6%, owning 2,912 shares after selling 4,481 shares this quarter, valued at approximately $434,000.
• Various hedge funds, including Price T Rowe Associates, have significantly increased their holdings in Brinker International, with Price T Rowe raising its stake by 3,277.5% in the fourth quarter.
• Brinker International recently reported a quarterly earnings per share (EPS) of $2.66, exceeding estimates, with revenue up 27.2% year-over-year at $1.43 billion.

Harvest Fund Management Co. Ltd lessened its stake in Brinker International, Inc. (NYSE:EAT - Free Report) by 60.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,912 shares of the restaurant operator's stock after selling 4,481 shares during the period. Harvest Fund Management Co. Ltd's holdings in Brinker International were worth $434,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in EAT. GSA Capital Partners LLP purchased a new stake in shares of Brinker International during the 1st quarter worth approximately $1,530,000. Meeder Asset Management Inc. acquired a new position in Brinker International in the 1st quarter valued at $396,000. Mackenzie Financial Corp raised its holdings in Brinker International by 4.2% in the 1st quarter. Mackenzie Financial Corp now owns 2,933 shares of the restaurant operator's stock valued at $437,000 after acquiring an additional 119 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Brinker International by 26.0% during the 1st quarter. LPL Financial LLC now owns 13,311 shares of the restaurant operator's stock worth $1,984,000 after buying an additional 2,743 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of Brinker International during the 1st quarter worth $515,000.

Brinker International Price Performance

Shares of NYSE:EAT traded down $1.89 during midday trading on Friday, hitting $155.71. The stock had a trading volume of 1,455,976 shares, compared to its average volume of 1,259,940. The company's 50-day moving average price is $170.33 and its 200-day moving average price is $157.87. The company has a market capitalization of $6.92 billion, a P/E ratio of 21.48, a price-to-earnings-growth ratio of 0.37 and a beta of 1.68. The company has a quick ratio of 0.23, a current ratio of 0.28 and a debt-to-equity ratio of 2.00. Brinker International, Inc. has a fifty-two week low of $56.27 and a fifty-two week high of $192.21.

Brinker International (NYSE:EAT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The restaurant operator reported $2.66 EPS for the quarter, beating analysts' consensus estimates of $2.48 by $0.18. Brinker International had a net margin of 6.50% and a return on equity of 333.03%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the firm posted $1.24 EPS. The company's quarterly revenue was up 27.2% on a year-over-year basis. As a group, equities research analysts predict that Brinker International, Inc. will post 8.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EAT. Morgan Stanley increased their price target on Brinker International from $144.00 to $149.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Wells Fargo & Company increased their price objective 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. 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 note on Thursday, April 10th. Stifel Nicolaus raised their target price on shares of Brinker International from $200.00 to $215.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Finally, Barclays raised their price objective on shares of Brinker International from $155.00 to $166.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $156.41.

Insiders Place Their Bets

In other news, COO Douglas N. Comings sold 2,350 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $2,798,522.81. This represents a 10.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ramona Hood sold 777 shares of Brinker International stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $135.23, for a total transaction of $105,073.71. Following the transaction, the director directly owned 8,568 shares in the company, valued at $1,158,650.64. This trade represents a 8.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,127 shares of company stock worth $2,128,062. Insiders own 1.72% of the company's stock.

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.