Swiss National Bank Sells 2,000 Shares of Brinker International, Inc. (NYSE:EAT)

Key Points

• The Swiss National Bank reduced its stake in Brinker International by 2.3%, selling 2,000 shares and maintaining a total of 86,100 shares valued at approximately $12.83 million.
• Several hedge funds have made significant adjustments to their holdings, including Westfield Capital Management's 102% increase and Price T Rowe Associates' 3,277.5% increase in their respective stakes.
• Brinker International reported earnings of $2.49 per share, exceeding analysts' expectations and contributing to a revenue increase of 21% compared to the same period last year, amounting to $1.46 billion.

Swiss National Bank reduced its holdings in Brinker International, Inc. (NYSE:EAT - Free Report) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 86,100 shares of the restaurant operator's stock after selling 2,000 shares during the quarter. Swiss National Bank owned about 0.19% of Brinker International worth $12,833,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Westfield Capital Management Co. LP boosted its holdings in 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 acquiring an additional 502,897 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Brinker International by 3,277.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 987,334 shares of the restaurant operator's stock worth $130,615,000 after acquiring an additional 958,101 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Brinker International in the fourth quarter worth approximately $82,408,000. Northern Trust Corp boosted its holdings in Brinker International by 10.2% in the fourth quarter. Northern Trust Corp now owns 512,613 shares of the restaurant operator's stock worth $67,814,000 after acquiring an additional 47,378 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new position in Brinker International in the fourth quarter worth approximately $61,929,000.

Insider Buying and Selling at Brinker International

In other news, Director Joseph Michael Depinto sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $170.36, for a total transaction of $1,703,600.00. Following the completion of the transaction, the director directly owned 99,297 shares of the company's stock, valued at $16,916,236.92. This represents a 9.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on EAT shares. Piper Sandler boosted their price objective on Brinker International from $155.00 to $168.00 and gave the stock a "neutral" rating in a report on Thursday. Morgan Stanley boosted their price objective on Brinker International from $149.00 to $161.00 and gave the stock an "equal weight" rating in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on Brinker International from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Wednesday, June 25th. BMO Capital Markets boosted their price objective on Brinker International from $150.00 to $170.00 and gave the stock a "market perform" rating in a report on Thursday. Finally, UBS Group boosted their price objective on Brinker International from $155.00 to $165.00 and gave the stock a "neutral" rating in a report on Thursday. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $171.41.

Brinker International Price Performance

Brinker International stock opened at $157.83 on Friday. Brinker International, Inc. has a 52 week low of $65.26 and a 52 week high of $192.21. The company's 50 day moving average price is $168.26 and its two-hundred day moving average price is $158.40. The stock has a market cap of $7.02 billion, a P/E ratio of 18.99, a P/E/G ratio of 0.36 and a beta of 1.68. The company has a quick ratio of 0.23, a current ratio of 0.31 and a debt-to-equity ratio of 1.15.

Brinker International (NYSE:EAT - Get Free Report) last released its earnings results on Wednesday, August 13th. The restaurant operator reported $2.49 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm earned $1.61 EPS. The company's revenue was up 21.0% compared to the same quarter last year. On average, equities analysts predict that Brinker International, Inc. will post 8.3 earnings per share for the current year.

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.

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