Raymond James Financial Inc. Has $13.73 Million Stock Position in Brinker International, Inc. $EAT

Key Points

• Raymond James Financial Inc. increased its stake in Brinker International by 87.2%, owning approximately 92,082 shares valued at $13.7 million.
• CEO Kevin Hochman sold 44,000 shares of Brinker stock for over $6.9 million, reducing his ownership by 17.13% to 212,867 shares.
• Brinker International reported a Q2 earnings per share of $2.49, slightly above estimates, with revenues rising by 21% year-over-year to $1.46 billion.

Raymond James Financial Inc. grew its stake in Brinker International, Inc. (NYSE:EAT - Free Report) by 87.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 92,082 shares of the restaurant operator's stock after buying an additional 42,895 shares during the period. Raymond James Financial Inc. owned approximately 0.21% of Brinker International worth $13,725,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in EAT. Balyasny Asset Management L.P. bought a new position in shares of Brinker International in the fourth quarter worth about $82,408,000. Westfield Capital Management Co. LP increased its stake in shares of Brinker International by 102.0% in the first quarter. Westfield Capital Management Co. LP now owns 995,713 shares of the restaurant operator's stock worth $148,411,000 after purchasing an additional 502,897 shares during the period. Nuveen LLC bought a new position in shares of Brinker International in the first quarter worth about $55,808,000. Man Group plc increased its stake in shares of Brinker International by 293.6% in the fourth quarter. Man Group plc now owns 239,306 shares of the restaurant operator's stock worth $31,658,000 after purchasing an additional 178,503 shares during the period. Finally, Lord Abbett & CO. LLC bought a new position in shares of Brinker International in the first quarter worth about $24,891,000.

Brinker International Price Performance

NYSE EAT traded up $0.36 during trading hours on Monday, reaching $155.89. 920,262 shares of the company's stock were exchanged, compared to its average volume of 1,358,117. The stock has a market cap of $6.94 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 0.99 and a beta of 1.43. Brinker International, Inc. has a one year low of $68.45 and a one year high of $192.21. The firm has a fifty day moving average of $163.18 and a 200-day moving average of $156.60. The company has a current ratio of 0.31, a quick ratio of 0.25 and a debt-to-equity ratio of 1.15.

Brinker International (NYSE:EAT - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The restaurant operator reported $2.49 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.02. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.42 billion. Brinker International had a return on equity of 211.86% and a net margin of 7.12%.Brinker International's revenue for the quarter was up 21.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.61 EPS. Brinker International has set its FY 2026 guidance at 9.900-10.50 EPS. On average, equities research analysts predict that Brinker International, Inc. will post 8.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on EAT shares. JPMorgan Chase & Co. boosted their price target on Brinker International from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Wednesday, June 25th. UBS Group boosted their price target on Brinker International from $155.00 to $165.00 and gave the company a "neutral" rating in a research note on Thursday, August 14th. BMO Capital Markets boosted their price target on Brinker International from $150.00 to $170.00 and gave the company a "market perform" rating in a research note on Thursday, August 14th. Barclays upped their price objective on Brinker International from $166.00 to $170.00 and gave the company an "equal weight" rating in a research note on Thursday, August 14th. Finally, Stifel Nicolaus upped their price objective on Brinker International from $200.00 to $215.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Four research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, Brinker International has a consensus rating of "Hold" and a consensus price target of $171.41.

Insider Buying and Selling

In other Brinker International news, CEO Kevin Hochman sold 44,000 shares of the company's 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 the SEC website. Also, Director Joseph Michael Depinto sold 10,000 shares of the company's 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 approximately $16,916,236.92. This represents a 9.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,325 shares of company stock worth $9,954,705 in the last three months. 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.