Peregrine Capital Management LLC Reduces Position in Brinker International, Inc. (NYSE:EAT)

Peregrine Capital Management LLC trimmed its position in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 51.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 186,971 shares of the restaurant operator's stock after selling 202,016 shares during the period. Peregrine Capital Management LLC owned approximately 0.42% of Brinker International worth $8,073,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Wakefield Asset Management LLLP lifted its holdings in shares of Brinker International by 10.9% in the fourth quarter. Wakefield Asset Management LLLP now owns 21,223 shares of the restaurant operator's stock worth $916,000 after acquiring an additional 2,092 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Brinker International by 4.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,747 shares of the restaurant operator's stock worth $853,000 after acquiring an additional 874 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Brinker International by 248.7% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 3,379 shares of the restaurant operator's stock valued at $148,000 after buying an additional 2,410 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Brinker International by 148.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 23,255 shares of the restaurant operator's stock valued at $1,004,000 after buying an additional 13,895 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in Brinker International by 52.9% in the 4th quarter. Raymond James & Associates now owns 39,274 shares of the restaurant operator's stock valued at $1,696,000 after buying an additional 13,582 shares during the last quarter.

Brinker International Stock Performance

Shares of EAT stock traded down $0.72 during trading hours on Wednesday, hitting $47.19. 1,511,459 shares of the company were exchanged, compared to its average volume of 1,282,013. The firm has a market cap of $2.09 billion, a P/E ratio of 13.84, a P/E/G ratio of 0.78 and a beta of 2.46. Brinker International, Inc. has a fifty-two week low of $28.23 and a fifty-two week high of $51.72. The company has a 50 day simple moving average of $46.80 and a two-hundred day simple moving average of $40.26.

Brinker International (NYSE:EAT - Get Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The restaurant operator reported $0.99 EPS for the quarter, topping the consensus estimate of $0.94 by $0.05. Brinker International had a net margin of 3.63% and a negative return on equity of 113.41%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.08 billion. As a group, sell-side analysts expect that Brinker International, Inc. will post 3.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EAT. JPMorgan Chase & Co. raised their price objective on shares of Brinker International from $44.00 to $48.00 and gave the company an "overweight" rating in a report on Tuesday, March 19th. Gordon Haskett upgraded shares of Brinker International from a "hold" rating to a "buy" rating and set a $48.00 price objective for the company in a report on Tuesday, January 16th. Barclays raised their price target on shares of Brinker International from $36.00 to $39.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 3rd. StockNews.com lowered shares of Brinker International from a "buy" rating to a "hold" rating in a report on Thursday, February 1st. Finally, BMO Capital Markets raised their price target on shares of Brinker International from $52.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, February 1st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Brinker International presently has a consensus rating of "Hold" and an average price target of $42.38.

Insider Activity at Brinker International

In related news, CFO Joseph G. Taylor sold 24,163 shares of Brinker International stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $44.97, for a total value of $1,086,610.11. Following the completion of the sale, the chief financial officer now owns 56,661 shares of the company's stock, valued at approximately $2,548,045.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.50% of the stock is currently owned by insiders.

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.