Fulcrum Asset Management LLP boosted its holdings in Brinker International, Inc. (NYSE:EAT – Free Report) by 15,776.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,701 shares of the restaurant operator’s stock after buying an additional 12,621 shares during the period. Fulcrum Asset Management LLP’s holdings in Brinker International were worth $2,529,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in EAT. BlackRock Inc. grew its holdings in Brinker International by 2.2% in the 2nd quarter. BlackRock Inc. now owns 6,729,477 shares of the restaurant operator’s stock valued at $1,130,552,000 after buying an additional 145,525 shares during the period. State Street Corp lifted its holdings in shares of Brinker International by 3.5% during the 2nd quarter. State Street Corp now owns 1,748,760 shares of the restaurant operator’s stock worth $293,786,000 after acquiring an additional 59,120 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Brinker International by 0.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,170,612 shares of the restaurant operator’s stock worth $167,128,000 after acquiring an additional 9,692 shares during the period. Freestone Grove Partners LP acquired a new stake in shares of Brinker International in the second quarter worth approximately $91,237,000. Finally, Wellington Management Group LLP boosted its position in shares of Brinker International by 63.7% in the second quarter. Wellington Management Group LLP now owns 413,472 shares of the restaurant operator’s stock worth $69,463,000 after acquiring an additional 160,939 shares during the last quarter.
Insider Buying and Selling
In other news, CEO Kevin Hochman sold 40,000 shares of the business’s stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $220.38, for a total transaction of $8,815,200.00. Following the transaction, the chief executive officer directly owned 104,603 shares of the company’s stock, valued at approximately $23,052,409.14. The trade was a 27.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James C. Katzman sold 650 shares of the business’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $220.09, for a total transaction of $143,058.50. Following the transaction, the director directly owned 25,094 shares in the company, valued at approximately $5,522,938.46. The trade was a 2.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 213,694 shares of company stock valued at $50,383,890 over the last three months. Company insiders own 1.18% of the company’s stock.
Brinker International Price Performance
EAT stock opened at $195.45 on Wednesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.29 and a current ratio of 0.34. Brinker International, Inc. has a 1 year low of $103.74 and a 1 year high of $254.99. The firm has a market cap of $8.12 billion, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 1.03 and a beta of 1.37. The stock has a 50-day simple moving average of $204.97 and a 200-day simple moving average of $176.17.
Brinker International (NYSE:EAT – Get Free Report) last announced its earnings results on Wednesday, October 28th. The restaurant operator reported $2.77 EPS for the quarter, beating the consensus estimate of $2.45 by $0.32. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. Brinker International had a return on equity of 125.65% and a net margin of 8.44%. The company’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the business posted $2.17 EPS. On average, equities analysts predict that Brinker International, Inc. will post 13.70 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Brinker International from $260.00 to $262.00 and gave the company an “overweight” rating in a report on Thursday, October 29th. TD Cowen increased their price target on shares of Brinker International from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Raymond James Financial upgraded shares of Brinker International from an “outperform” rating to a “strong-buy” rating and decreased their price target for the company from $270.00 to $260.00 in a report on Friday, October 16th. Mizuho boosted their price objective on shares of Brinker International from $175.00 to $275.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th. Finally, Freedom Broker raised shares of Brinker International to a “strong-buy” rating in a research note on Friday, September 18th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Brinker International has an average rating of “Moderate Buy” and a consensus price target of $249.80.
Brinker International Company Profile
Brinker International, Inc. is a casual-dining restaurant company based in Dallas, Texas. It owns, operates and franchises restaurants under the Chili’s Grill & Bar and Maggiano’s Little Italy brands. Chili’s serves a broad menu of American and Tex-Mex-inspired dishes, including burgers, ribs and fajitas. Maggiano’s specializes in Italian-American cuisine, with dishes such as pasta and other classic entrées. The company traces its roots to 1975, when founder Norman Brinker opened the first Chili’s restaurant in Dallas.
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