Wellington Management Group LLP Has $7.69 Million Stock Holdings in Brinker International, Inc. $EAT

Key Points

• Wellington Management Group LLP increased its stake in Brinker International by 7.6%, acquiring an additional 3,666 shares, bringing their total to 51,616 shares valued at approximately $7.69 million.
• Brinker International reported $2.49 earnings per share for the last quarter, surpassing analysts' expectations and marking a 21.0% year-over-year revenue increase to $1.46 billion.
• Several brokerages have raised their price targets for Brinker International, with Bank of America and JPMorgan Chase & Co. setting new targets at $190.00 and $180.00, respectively, reflecting a generally positive market outlook for the company.

Wellington Management Group LLP lifted its stake in Brinker International, Inc. (NYSE:EAT - Free Report) by 7.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,616 shares of the restaurant operator's stock after acquiring an additional 3,666 shares during the quarter. Wellington Management Group LLP owned approximately 0.12% of Brinker International worth $7,693,000 as of its most recent filing with the Securities and Exchange Commission.

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

Brinker International Price Performance

EAT traded up $0.36 during midday trading on Friday, reaching $155.89. 920,262 shares of the company's stock were exchanged, compared to its average volume of 1,358,117. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 0.99 and a beta of 1.43. The company has a quick ratio of 0.25, a current ratio of 0.31 and a debt-to-equity ratio of 1.15. Brinker International, Inc. has a one year low of $68.45 and a one year high of $192.21. The business has a 50-day simple moving average of $163.64 and a two-hundred day simple moving average of $156.62.

Brinker International (NYSE:EAT - Get Free Report) last announced 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 firm had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.42 billion. Brinker International had a net margin of 7.12% and a return on equity of 211.86%. The company's revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.61 earnings per share. Brinker International has set its FY 2026 guidance at 9.900-10.50 EPS. As a group, research analysts predict that Brinker International, Inc. will post 8.3 EPS for the current year.

Insiders Place Their Bets

In other news, Director Joseph Michael Depinto sold 10,000 shares of Brinker International stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $170.36, for a total value of $1,703,600.00. Following the completion of the transaction, the director owned 99,297 shares in the company, valued at approximately $16,916,236.92. The trade was a 9.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin Hochman sold 44,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $157.82, for a total transaction of $6,944,080.00. Following the completion of the sale, the chief executive officer directly 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 disclosure for this sale can be found here. Insiders sold a total of 62,325 shares of company stock worth $9,954,705 over the last quarter. Company insiders own 1.72% of the company's stock.

Analysts Set New Price Targets

EAT has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on shares of Brinker International from $149.00 to $161.00 and gave the company an "equal weight" rating in a report on Thursday, August 14th. Wells Fargo & Company upped their price target on shares of Brinker International from $150.00 to $165.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. upped their price target on shares of Brinker International from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Wednesday, June 25th. Wall Street Zen cut shares of Brinker International from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. Finally, Barclays increased their target price on shares of Brinker International from $166.00 to $170.00 and gave the company an "equal weight" rating in a research note on Thursday, August 14th. Four research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $171.41.

About Brinker International

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.