Scopus Asset Management L.P. bought a new position in Brinker International, Inc. (NYSE:EAT) during the first quarter, Holdings Channel reports. The firm bought 168,382 shares of the restaurant operator’s stock, valued at approximately $11,965,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new stake in shares of Brinker International in the 1st quarter worth about $30,000. Valeo Financial Advisors LLC acquired a new stake in shares of Brinker International in the 1st quarter worth about $36,000. FORA Capital LLC raised its holdings in shares of Brinker International by 138.2% in the 1st quarter. FORA Capital LLC now owns 1,003 shares of the restaurant operator’s stock worth $71,000 after acquiring an additional 582 shares during the last quarter. Convergence Investment Partners LLC acquired a new stake in shares of Brinker International in the 1st quarter worth about $164,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of Brinker International by 61.6% in the 1st quarter. Meeder Asset Management Inc. now owns 2,492 shares of the restaurant operator’s stock worth $176,000 after acquiring an additional 950 shares during the last quarter. Institutional investors own 96.89% of the company’s stock.
In other Brinker International news, COO Douglas N. Comings sold 1,529 shares of the stock in a transaction that occurred on Tuesday, May 11th. The shares were sold at an average price of $63.48, for a total value of $97,060.92. Following the sale, the chief operating officer now directly owns 22,451 shares in the company, valued at approximately $1,425,189.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Wyman Roberts sold 12,500 shares of the stock in a transaction that occurred on Wednesday, June 23rd. The stock was sold at an average price of $58.04, for a total transaction of $725,500.00. Following the completion of the sale, the chief executive officer now owns 223,186 shares in the company, valued at $12,953,715.44. The disclosure for this sale can be found here. Insiders have sold a total of 146,303 shares of company stock worth $9,903,460 over the last 90 days. 3.72% of the stock is currently owned by corporate insiders.
Brinker International (NYSE:EAT) last announced its quarterly earnings results on Tuesday, April 27th. The restaurant operator reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.01. The company had revenue of $828.40 million for the quarter, compared to analysts’ expectations of $837.55 million. Brinker International had a net margin of 0.26% and a negative return on equity of 6.66%. Brinker International’s revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.28 EPS. As a group, analysts forecast that Brinker International, Inc. will post 3.14 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on EAT shares. JPMorgan Chase & Co. upgraded shares of Brinker International from a “neutral” rating to an “overweight” rating and set a $78.00 target price on the stock in a report on Friday, May 7th. Raymond James raised shares of Brinker International from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research report on Monday, July 12th. BMO Capital Markets upped their price objective on shares of Brinker International from $80.00 to $83.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 8th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Brinker International from a “hold” rating to a “sell” rating and set a $65.00 price objective for the company. in a research report on Thursday, July 1st. Finally, Stephens reduced their price objective on shares of Brinker International from $80.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday, June 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $71.10.
About Brinker International
Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants in the United States and internationally. As of June 24, 2020, it owned, operated, or franchised 1,663 restaurants comprising 1,610 restaurants under the Chili's Grill & Bar name and 53 restaurants under the Maggiano's Little Italy brand name.
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