Panagora Asset Management Inc. Has $16.61 Million Stock Position in Brinker International, Inc. $EAT

Key Points

• Panagora Asset Management Inc. significantly increased its stake in Brinker International by 716.7% during the first quarter, acquiring a total of 111,434 shares valued at approximately $16.6 million.
• Brinker International reported an earnings per share (EPS) of $2.49 for the most recent quarter, beating expectations and reflecting a 21.0% increase in revenue year-over-year.
• Several hedge funds, including Westfield Capital Management and Man Group plc, also significantly increased their holdings in Brinker International, indicating strong institutional interest.

Panagora Asset Management Inc. lifted its holdings in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 716.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,434 shares of the restaurant operator's stock after acquiring an additional 97,789 shares during the period. Panagora Asset Management Inc. owned 0.25% of Brinker International worth $16,609,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its holdings in Brinker International by 575.0% in the first quarter. Farther Finance Advisors LLC now owns 189 shares of the restaurant operator's stock valued at $29,000 after acquiring an additional 161 shares during the period. Financial Management Professionals Inc. purchased a new stake in shares of Brinker International in the first quarter valued at about $30,000. Continuum Advisory LLC increased its position in Brinker International by 1,714.3% during the 1st quarter. Continuum Advisory LLC now owns 254 shares of the restaurant operator's stock worth $38,000 after purchasing an additional 240 shares in the last quarter. National Bank of Canada FI increased its position in Brinker International by 227.3% during the 1st quarter. National Bank of Canada FI now owns 252 shares of the restaurant operator's stock worth $38,000 after purchasing an additional 175 shares in the last quarter. Finally, Quarry LP purchased a new stake in Brinker International during the 4th quarter worth about $48,000.

Wall Street Analyst Weigh In

Several research firms have commented on EAT. Stifel Nicolaus lifted their price target on Brinker International from $200.00 to $215.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Evercore ISI boosted their price target on Brinker International from $180.00 to $190.00 and gave the stock an "in-line" rating in a research report on Thursday, August 14th. Barclays upped their target price on Brinker International from $166.00 to $170.00 and gave the company an "equal weight" rating in a research report on Thursday, August 14th. Wells Fargo & Company lifted their target price on Brinker International from $150.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Finally, Wall Street Zen lowered shares of Brinker International from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. Four equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $171.41.

Brinker International Trading Up 2.0%

Shares of NYSE:EAT traded up $3.14 during midday trading on Wednesday, reaching $159.00. The company had a trading volume of 1,349,931 shares, compared to its average volume of 1,477,828. The company has a fifty day simple moving average of $162.70 and a two-hundred day simple moving average of $156.60. The firm has a market cap of $7.08 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 0.99 and a beta of 1.43. 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 1-year low of $68.45 and a 1-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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.02. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.42 billion. Brinker International had a return on equity of 211.86% and a net margin of 7.12%.The business's revenue for the quarter was up 21.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.61 EPS. Brinker International has set its FY 2026 guidance at 9.900-10.50 EPS. Research analysts predict that Brinker International, Inc. will post 8.3 earnings per share for the current year.

Insider Transactions at Brinker International

In related news, Director Joseph Michael Depinto sold 10,000 shares of the firm's stock in a transaction 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 transaction, the director directly owned 99,297 shares in the company, valued at approximately $16,916,236.92. This trade represents a 9.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kevin Hochman sold 44,000 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $157.82, for a total value of $6,944,080.00. Following the transaction, the chief executive officer directly owned 212,867 shares of the company's stock, valued at $33,594,669.94. This represents a 17.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,325 shares of company stock valued at $9,954,705 in the last three months. Corporate 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.