Brinker International, Inc. (NYSE:EAT) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC cut its position in Brinker International, Inc. (NYSE:EAT - Free Report) by 30.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 290,479 shares of the restaurant operator's stock after selling 125,565 shares during the period. Brinker International accounts for 0.8% of Wedge Capital Management L L P NC's holdings, making the stock its 28th largest position. Wedge Capital Management L L P NC owned about 0.65% of Brinker International worth $43,296,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Coppell Advisory Solutions LLC acquired a new stake in Brinker International during the 4th quarter worth $26,000. Financial Management Professionals Inc. acquired a new position in Brinker International during the first quarter worth about $30,000. Quarry LP acquired a new position in Brinker International during the fourth quarter worth about $48,000. Kapitalo Investimentos Ltda purchased a new stake in Brinker International during the 4th quarter valued at about $105,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Brinker International in the 4th quarter valued at about $126,000.

Wall Street Analysts Forecast Growth

EAT has been the topic of several recent research reports. Citigroup lowered their target price on Brinker International from $185.00 to $170.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company lowered their price objective on Brinker International from $165.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Finally, Barclays cut their target price on Brinker International from $165.00 to $155.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Thirteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $141.14.

Brinker International Stock Up 1.2%

Shares of EAT traded up $2.00 during mid-day trading on Monday, hitting $173.65. 1,387,340 shares of the company's stock were exchanged, compared to its average volume of 1,494,162. The stock's 50-day moving average is $149.97 and its 200-day moving average is $147.67. The company has a debt-to-equity ratio of 4.96, a quick ratio of 0.27 and a current ratio of 0.33. Brinker International, Inc. has a fifty-two week low of $56.27 and a fifty-two week high of $192.22. The company has a market cap of $7.72 billion, a price-to-earnings ratio of 30.10, a P/E/G ratio of 0.49 and a beta of 1.71.

Brinker International (NYSE:EAT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The restaurant operator reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.18. The business had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.38 billion. Brinker International had a return on equity of 879.47% and a net margin of 5.45%. The company's revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period last year, the firm earned $1.24 earnings per share. On average, sell-side analysts anticipate that Brinker International, Inc. will post 8.3 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ramona Hood sold 777 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $135.23, for a total value of $105,073.71. Following the sale, the director now directly owns 8,568 shares in the company, valued at $1,158,650.64. This represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Michael Depinto sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was 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 now directly owns 99,297 shares in the company, valued at $16,916,236.92. This represents a 9.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 13,127 shares of company stock worth $2,128,062. Company 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.