Nuveen LLC Takes $55.81 Million Position in Brinker International, Inc. (NYSE:EAT)

Key Points

• Nuveen LLC acquired a new stake in Brinker International, Inc., purchasing 374,428 shares valued at approximately $55.8 million, representing about 0.84% ownership in the company.
• In the last quarter, various institutional investors, including Wells Fargo and Barclays, significantly increased their stakes in Brinker International, indicating growing confidence in the restaurant operator.
• Brinker International reported a net margin of 7.12% and a return on equity of 211.86%, with revenue for the last quarter reaching $1.46 billion, surpassing analyst expectations.

Nuveen LLC acquired a new position in Brinker International, Inc. (NYSE:EAT - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 374,428 shares of the restaurant operator's stock, valued at approximately $55,808,000. Nuveen LLC owned approximately 0.84% of Brinker International at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in EAT. Coppell Advisory Solutions LLC acquired a new position in Brinker International in the 4th quarter worth $26,000. Farther Finance Advisors LLC lifted its holdings in Brinker International by 575.0% in the 1st quarter. Farther Finance Advisors LLC now owns 189 shares of the restaurant operator's stock worth $29,000 after buying an additional 161 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in Brinker International in the 1st quarter worth $30,000. Continuum Advisory LLC lifted its holdings in Brinker International by 1,714.3% in the 1st quarter. Continuum Advisory LLC now owns 254 shares of the restaurant operator's stock worth $38,000 after buying an additional 240 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in Brinker International by 227.3% in the 1st quarter. National Bank of Canada FI now owns 252 shares of the restaurant operator's stock worth $38,000 after buying an additional 175 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have commented on EAT shares. Morgan Stanley boosted their price objective on shares of Brinker International from $149.00 to $161.00 and gave the stock an "equal weight" rating in a report on Thursday. BMO Capital Markets upped their target price on shares of Brinker International from $150.00 to $170.00 and gave the company a "market perform" rating in a research note on Thursday. UBS Group upped their target price on shares of Brinker International from $155.00 to $165.00 and gave the company a "neutral" rating in a research note on Thursday. JPMorgan Chase & Co. upped their target price on shares of Brinker International from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Wednesday, June 25th. Finally, Stifel Nicolaus upped their target price on shares of Brinker International from $200.00 to $215.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $171.41.

Brinker International Stock Performance

EAT traded down $0.04 on Friday, hitting $158.04. 1,290,619 shares of the company's stock were exchanged, compared to its average volume of 1,418,763. The firm has a market cap of $7.02 billion, a PE ratio of 19.02, a P/E/G ratio of 0.36 and a beta of 1.68. Brinker International, Inc. has a twelve month low of $65.26 and a twelve month high of $192.21. The stock has a fifty day moving average of $167.98 and a two-hundred day moving average of $158.27. The company has a current ratio of 0.31, a quick ratio of 0.23 and a debt-to-equity ratio of 1.15.

Brinker International (NYSE:EAT - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The restaurant operator reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.02. Brinker International had a net margin of 7.12% and a return on equity of 211.86%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the business earned $1.61 earnings per share. Brinker International's quarterly revenue was up 21.0% on a year-over-year basis. On average, research analysts anticipate that Brinker International, Inc. will post 8.3 earnings per share for the current fiscal year.

Insider Activity at Brinker International

In other Brinker International news, Director Joseph Michael Depinto sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $170.36, for a total value of $1,703,600.00. Following the sale, the director owned 99,297 shares in the company, valued at approximately $16,916,236.92. This trade represents a 9.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harriet Edelman sold 8,325 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $157.00, for a total transaction of $1,307,025.00. Following the completion of the sale, the director owned 28,905 shares in the company, valued at $4,538,085. The trade was a 22.36% decrease in their position. The disclosure for this sale can be found here. 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.