Brinker International, Inc. (NYSE:EAT) Shares Bought by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. increased its holdings in Brinker International by 28.0% during the first quarter, acquiring an additional 5,598 shares and totaling 25,581 shares valued at approximately $3.8 million.
• Various hedge funds have significantly modified their positions in Brinker International, with one investor increasing their stake by 575.0% and another purchasing a new position valued at about $26,000.
• Analysts have given Brinker International an average rating of "Hold" with varying price targets, including a recent upgrade by Barclays to $166.00.

Victory Capital Management Inc. grew its stake in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 28.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,581 shares of the restaurant operator's stock after purchasing an additional 5,598 shares during the period. Victory Capital Management Inc. owned approximately 0.06% of Brinker International worth $3,813,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in EAT. AdvisorShares Investments LLC boosted its position in shares of Brinker International by 4.4% in the 4th quarter. AdvisorShares Investments LLC now owns 2,131 shares of the restaurant operator's stock worth $282,000 after buying an additional 89 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in shares of Brinker International by 3.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,509 shares of the restaurant operator's stock worth $596,000 after buying an additional 148 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of 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. Coppell Advisory Solutions LLC purchased a new stake in shares of Brinker International in the 4th quarter worth about $26,000. Finally, Financial Management Professionals Inc. purchased a new stake in shares of Brinker International in the 1st quarter worth about $30,000.

Analyst Ratings Changes

EAT has been the topic of several recent research reports. Bank of America boosted their price objective on shares of Brinker International from $185.00 to $186.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Stifel Nicolaus boosted their price objective on shares of Brinker International from $200.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Citigroup cut their target price on shares of Brinker International from $185.00 to $170.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. boosted 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, Wells Fargo & Company boosted their target price on shares of Brinker International from $150.00 to $165.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Thirteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $156.41.

Insider Buying and Selling

In related 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 sale, the director owned 99,297 shares of the company's stock, valued at approximately $16,916,236.92. This represents a 9.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ramona Hood sold 777 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $135.23, for a total transaction of $105,073.71. Following the sale, the director directly owned 8,568 shares of the company's stock, valued at approximately $1,158,650.64. This trade represents a 8.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,127 shares of company stock valued at $2,128,062. 1.72% of the stock is currently owned by corporate insiders.

Brinker International Trading Down 4.4%

Shares of NYSE EAT traded down $7.37 on Thursday, reaching $158.52. 239,757 shares of the company traded hands, compared to its average volume of 1,490,447. Brinker International, Inc. has a fifty-two week low of $56.27 and a fifty-two week high of $192.21. The company has a 50 day moving average of $170.14 and a 200 day moving average of $157.65. The company has a current ratio of 0.28, a quick ratio of 0.23 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $7.05 billion, a PE ratio of 21.86, a P/E/G ratio of 0.38 and a beta of 1.70.

Brinker International (NYSE:EAT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The restaurant operator reported $2.66 EPS for the quarter, beating analysts' consensus estimates of $2.48 by $0.18. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.38 billion. Brinker International had a net margin of 6.50% and a return on equity of 333.03%. The company's quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.24 EPS. On average, equities research analysts forecast that Brinker International, Inc. will post 8.3 earnings per share for the current fiscal 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.