Northern Trust Corp Decreases Stock Holdings in Brinker International, Inc. $EAT

Key Points

• Northern Trust Corp reduced its stake in Brinker International by 6.8% during the first quarter, now holding approximately 477,795 shares valued at $71.2 million.
• Brinker International reported a quarterly earnings per share of $2.49, surpassing estimates and reflecting a 21% year-over-year revenue increase.
• Multiple analysts have adjusted their price targets for Brinker International, with the average target now at $171.41 and a consensus rating of "Hold".

Northern Trust Corp trimmed its position in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 6.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 477,795 shares of the restaurant operator's stock after selling 34,818 shares during the period. Northern Trust Corp owned approximately 1.07% of Brinker International worth $71,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Westfield Capital Management Co. LP raised its holdings in shares of Brinker International by 102.0% during the 1st quarter. Westfield Capital Management Co. LP now owns 995,713 shares of the restaurant operator's stock worth $148,411,000 after acquiring an additional 502,897 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Brinker International by 5.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 967,550 shares of the restaurant operator's stock worth $144,201,000 after acquiring an additional 46,896 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Brinker International during the 4th quarter worth approximately $82,408,000. Invesco Ltd. raised its holdings in shares of Brinker International by 4.3% during the 1st quarter. Invesco Ltd. now owns 510,993 shares of the restaurant operator's stock worth $76,164,000 after acquiring an additional 21,270 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Brinker International during the 1st quarter worth approximately $55,808,000.

Insider Transactions at Brinker International

In other news, CEO Kevin Hochman sold 44,000 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $157.82, for a total transaction of $6,944,080.00. Following the transaction, the chief executive officer owned 212,867 shares of the company's stock, valued at approximately $33,594,669.94. This represents a 17.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Michael Depinto sold 10,000 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $170.36, for a total value of $1,703,600.00. Following the transaction, the director directly owned 99,297 shares in the company, valued at $16,916,236.92. The trade was a 9.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,325 shares of company stock valued at $9,954,705. 1.72% of the stock is currently owned by corporate insiders.

Brinker International Trading Down 0.4%

Brinker International stock traded down $0.59 during mid-day trading on Thursday, hitting $155.55. The company's stock had a trading volume of 966,435 shares, compared to its average volume of 1,399,298. The company has a 50 day moving average of $164.09 and a 200-day moving average of $156.75. The stock has a market cap of $6.92 billion, a PE ratio of 18.72, a P/E/G ratio of 0.99 and a beta of 1.68. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.25 and a current ratio of 0.31. Brinker International, Inc. has a one year low of $68.45 and a one year high of $192.21.

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 the consensus estimate of $2.47 by $0.02. Brinker International had a return on equity of 211.86% and a net margin of 7.12%.The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the company posted $1.61 EPS. Brinker International'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. On average, research analysts anticipate that Brinker International, Inc. will post 8.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EAT. Wells Fargo & Company boosted 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. Piper Sandler boosted their target price on Brinker International from $155.00 to $168.00 and gave the company a "neutral" rating in a research report on Thursday, August 14th. Wall Street Zen downgraded Brinker International from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. Stifel Nicolaus boosted their target price on Brinker International from $200.00 to $215.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Finally, BMO Capital Markets boosted their target price on Brinker International from $150.00 to $170.00 and gave the company a "market perform" rating in a research report on Thursday, August 14th. Four research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $171.41.

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.