Royal Bank of Canada Acquires 85,656 Shares of Brinker International, Inc. $EAT

Key Points

• Royal Bank of Canada more than doubled its Brinker International holdings in the first quarter, purchasing 85,656 additional shares to reach 160,740 shares valued at approximately $22.95 million.
• Several other institutional investors increased their positions, including Quantinno Capital Management, Lazard Asset Management and the Ohio Public Employees Retirement System.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $193.25. Brinker shares opened at $225.85, near their 52-week high of $226.70.

Royal Bank of Canada lifted its holdings in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 114.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,740 shares of the restaurant operator's stock after purchasing an additional 85,656 shares during the quarter. Royal Bank of Canada owned 0.37% of Brinker International worth $22,948,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Empowered Funds LLC increased its stake in Brinker International by 25.6% during the 1st quarter. Empowered Funds LLC now owns 73,628 shares of the restaurant operator's stock worth $10,512,000 after purchasing an additional 14,991 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Brinker International by 301.9% in the first quarter. Quantinno Capital Management LP now owns 27,641 shares of the restaurant operator's stock valued at $3,946,000 after buying an additional 20,764 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Brinker International by 43.3% in the first quarter. Lazard Asset Management LLC now owns 14,337 shares of the restaurant operator's stock valued at $2,047,000 after buying an additional 4,330 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in shares of Brinker International in the first quarter valued at approximately $914,000. Finally, Public Employees Retirement System of Ohio increased its position in shares of Brinker International by 534.5% during the first quarter. Public Employees Retirement System of Ohio now owns 1,288 shares of the restaurant operator's stock worth $184,000 after acquiring an additional 1,085 shares in the last quarter.

Analyst Upgrades and Downgrades

EAT has been the topic of several recent research reports. Barclays lifted their price target on Brinker International from $170.00 to $175.00 and gave the company an "equal weight" rating in a research note on Thursday, April 30th. Morgan Stanley upped their price objective on Brinker International from $205.00 to $207.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Citigroup increased their price objective on Brinker International from $189.00 to $227.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. KeyCorp lifted their target price on Brinker International from $177.00 to $204.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. Finally, Stephens assumed coverage on Brinker International in a research note on Friday, July 17th. They issued an "overweight" rating and a $220.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $193.25.

Brinker International Price Performance

Shares of NYSE EAT opened at $225.85 on Thursday. The business's 50 day moving average price is $174.13 and its two-hundred day moving average price is $157.21. The company has a market cap of $9.69 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 1.29 and a beta of 1.24. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.05. Brinker International, Inc. has a twelve month low of $100.30 and a twelve month high of $226.70.

Brinker International Company Profile

Brinker International, Inc NYSE: EAT is a leading global operator of casual dining restaurants. The company's portfolio is anchored by its flagship Chili's® Grill & Bar concept and Maggiano's® Little Italy full‐service restaurants, offering a range of American‐style menu items, handcrafted cocktails and family‐friendly dining experiences. Through dine‐in, takeout, delivery and catering services, Brinker seeks to meet consumer preferences across multiple channels.

The Chili's brand features signature items such as baby back ribs, burgers and fajitas alongside a rotating selection of limited‐time offerings and seasonal beverages.

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