Brinker International, Inc. (NYSE:EAT) Stake Lowered by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its holdings in Brinker International, Inc. (NYSE:EAT) by 33.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 331,900 shares of the restaurant operator’s stock after selling 167,238 shares during the period. Nuveen Asset Management LLC’s holdings in Brinker International were worth $43,907,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Entropy Technologies LP acquired a new position in Brinker International during the 4th quarter worth $410,000. Stephens Inc. AR acquired a new position in shares of Brinker International during the fourth quarter valued at about $661,000. Ifrah Financial Services Inc. acquired a new position in Brinker International in the fourth quarter worth about $280,000. Principal Financial Group Inc. raised its position in Brinker International by 5.4% in the fourth quarter. Principal Financial Group Inc. now owns 287,456 shares of the restaurant operator’s stock worth $38,028,000 after purchasing an additional 14,634 shares in the last quarter. Finally, LMG Wealth Partners LLC acquired a new position in Brinker International in the fourth quarter worth about $400,000.

Insider Activity

In other Brinker International news, Director Ramona Hood sold 777 shares of Brinker International stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $135.23, for a total value of $105,073.71. Following the completion of the sale, the director now owns 8,568 shares in the company, valued at $1,158,650.64. The trade was a 8.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Douglas N. Comings sold 2,350 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $135.91, for a total transaction of $319,388.50. Following the completion of the transaction, the chief operating officer now owns 20,591 shares of the company’s stock, valued at $2,798,522.81. The trade was a 10.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.72% of the company’s stock.

Brinker International Stock Down 1.8%

Brinker International stock opened at $148.92 on Tuesday. The company has a market cap of $6.62 billion, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 0.49 and a beta of 1.66. Brinker International, Inc. has a 1-year low of $56.27 and a 1-year high of $192.22. The company has a fifty day simple moving average of $145.22 and a 200 day simple moving average of $143.16. The company has a current ratio of 0.33, a quick ratio of 0.27 and a debt-to-equity ratio of 4.96.

Brinker International (NYSE:EAT) last announced 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. Brinker International had a net margin of 5.45% and a return on equity of 879.47%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the firm posted $1.24 EPS. The company’s quarterly revenue was up 27.2% on a year-over-year basis. Research analysts anticipate that Brinker International, Inc. will post 8.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on EAT shares. BMO Capital Markets upped their price objective on shares of Brinker International from $105.00 to $125.00 and gave the stock a “market perform” rating in a research note on Monday, January 27th. Stifel Nicolaus increased their price target on shares of Brinker International from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. raised their price objective on shares of Brinker International from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. The Goldman Sachs Group increased their target price on shares of Brinker International from $162.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Barclays cut their target price on shares of Brinker International from $165.00 to $155.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 30th. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $141.14.

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.