Hennessy Advisors Inc. Cuts Holdings in Brinker International, Inc. (NYSE:EAT)

Hennessy Advisors Inc. lowered its holdings in Brinker International, Inc. (NYSE:EAT - Free Report) by 8.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 563,900 shares of the restaurant operator's stock after selling 55,100 shares during the period. Brinker International makes up 2.8% of Hennessy Advisors Inc.'s portfolio, making the stock its biggest position. Hennessy Advisors Inc. owned about 1.27% of Brinker International worth $84,049,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Coppell Advisory Solutions LLC acquired a new stake in shares of Brinker International in the fourth quarter worth $26,000. Farther Finance Advisors LLC increased its position in shares of Brinker International by 575.0% in the first quarter. Farther Finance Advisors LLC now owns 189 shares of the restaurant operator's stock worth $29,000 after acquiring an additional 161 shares in the last quarter. Financial Management Professionals Inc. acquired a new stake in shares of Brinker International in the first quarter worth $30,000. Quarry LP acquired a new stake in shares of Brinker International in the fourth quarter worth $48,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Brinker International in the fourth quarter worth $105,000.

Brinker International Stock Performance

EAT traded down $2.15 during trading hours on Friday, hitting $174.14. 1,316,363 shares of the stock were exchanged, compared to its average volume of 1,489,195. The stock has a market cap of $7.74 billion, a price-to-earnings ratio of 30.18, a price-to-earnings-growth ratio of 0.49 and a beta of 1.71. The stock has a 50-day simple moving average of $153.39 and a 200-day simple moving average of $149.08. The company has a debt-to-equity ratio of 4.96, a current ratio of 0.33 and a quick ratio of 0.27. Brinker International, Inc. has a 12 month low of $56.27 and a 12 month high of $192.22.

Brinker International (NYSE:EAT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The restaurant operator reported $2.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.48 by $0.18. Brinker International had a net margin of 5.45% and a return on equity of 879.47%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the firm posted $1.24 EPS. The company's revenue for the quarter was up 27.2% on a year-over-year basis. Analysts anticipate that Brinker International, Inc. will post 8.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EAT. Wells Fargo & Company dropped their price objective on shares of Brinker International from $165.00 to $150.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. Barclays dropped their price target on shares of Brinker International from $165.00 to $155.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Finally, Citigroup dropped their price target 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. Thirteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $141.14.

Insider Activity

In other news, Director Joseph Michael Depinto sold 10,000 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $170.36, for a total transaction of $1,703,600.00. Following the completion of the transaction, the director now owns 99,297 shares in the company, valued at approximately $16,916,236.92. This represents a 9.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ramona Hood sold 777 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $135.23, for a total transaction of $105,073.71. Following the transaction, the director now directly owns 8,568 shares of the company's stock, valued at $1,158,650.64. The trade was a 8.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,127 shares of company stock valued at $2,128,062. 1.72% of the stock is currently owned by insiders.

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.