Informed Momentum Co LLC Sells 18,257 Shares of Brinker International, Inc. (NYSE:EAT)

Key Points

• Informed Momentum Co LLC reduced its stake in Brinker International by 44.6%, holding 22,658 shares worth approximately $3.38 million after selling 18,257 shares in the first quarter.
• Price T Rowe Associates increased its stake by 3,277.5%, now owning 987,334 shares valued at $130.62 million, while other firms like Balyasny Asset Management and Westfield Capital Management also acquired significant stakes.
• Wall Street analysts have varied opinions on Brinker International, with target prices ranging from $144 to $215, and an average rating of "Hold" with a consensus target of $156.41.

Informed Momentum Co LLC trimmed its holdings in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 44.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,658 shares of the restaurant operator's stock after selling 18,257 shares during the period. Informed Momentum Co LLC owned 0.05% of Brinker International worth $3,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Public Sector Pension Investment Board increased its position in Brinker International by 27.2% in the 1st quarter. Public Sector Pension Investment Board now owns 140,804 shares of the restaurant operator's stock valued at $20,987,000 after acquiring an additional 30,146 shares during the period. Nuveen LLC acquired a new stake in shares of Brinker International during the first quarter worth $55,808,000. Entropy Technologies LP boosted its holdings in shares of Brinker International by 487.1% during the first quarter. Entropy Technologies LP now owns 18,193 shares of the restaurant operator's stock worth $2,712,000 after purchasing an additional 15,094 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Brinker International by 4.3% during the first quarter. Invesco Ltd. now owns 510,993 shares of the restaurant operator's stock worth $76,164,000 after purchasing an additional 21,270 shares during the last quarter. Finally, Sierra Summit Advisors LLC raised its position in shares of Brinker International by 17.2% in the 1st quarter. Sierra Summit Advisors LLC now owns 4,922 shares of the restaurant operator's stock worth $734,000 after buying an additional 723 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have commented on EAT shares. Wells Fargo & Company raised their price objective 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. Bank of America boosted their price objective on Brinker International from $186.00 to $190.00 and gave the stock a "neutral" rating in a research report on Thursday. Morgan Stanley boosted their target price on Brinker International from $149.00 to $161.00 and gave the stock an "equal weight" rating in a report on Thursday. BMO Capital Markets boosted their price target on shares of Brinker International from $150.00 to $170.00 and gave the company a "market perform" rating in a report on Thursday. Finally, UBS Group boosted their price target on shares of Brinker International from $155.00 to $165.00 and gave the company a "neutral" rating in a report on Thursday. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $171.41.

Brinker International Stock Down 0.0%

Brinker International stock traded down $0.04 during mid-day trading on Friday, reaching $158.04. The company's stock had a trading volume of 1,289,021 shares, compared to its average volume of 1,500,186. The business's 50 day simple moving average is $168.26 and its 200 day simple moving average is $158.40. Brinker International, Inc. has a 12 month low of $65.26 and a 12 month high of $192.21. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 0.36 and a beta of 1.68. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.23 and a current ratio of 0.31.

Brinker International (NYSE:EAT - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the firm posted $1.61 EPS. The company's quarterly revenue was up 21.0% on a year-over-year basis. As a group, research analysts anticipate that Brinker International, Inc. will post 8.3 earnings per share for the current year.

Insider Activity at Brinker International

In related news, Director Joseph Michael Depinto sold 10,000 shares of Brinker International 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 sale, the director owned 99,297 shares of the company's stock, valued at approximately $16,916,236.92. The trade was a 9.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.72% of the stock is currently owned by company 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.