Verition Fund Management LLC purchased a new position in shares of Brinker International, Inc. (NYSE:EAT – Get Rating) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,020 shares of the restaurant operator's stock, valued at approximately $230,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Brinker International by 1.9% during the first quarter. Vanguard Group Inc. now owns 5,382,945 shares of the restaurant operator's stock worth $205,414,000 after purchasing an additional 102,122 shares during the last quarter. State Street Corp boosted its holdings in Brinker International by 2.9% during the first quarter. State Street Corp now owns 1,654,811 shares of the restaurant operator's stock worth $63,148,000 after purchasing an additional 46,935 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Brinker International by 2.4% during the first quarter. Dimensional Fund Advisors LP now owns 880,258 shares of the restaurant operator's stock worth $33,589,000 after purchasing an additional 20,903 shares during the last quarter. Primecap Management Co. CA boosted its holdings in Brinker International by 7.6% during the first quarter. Primecap Management Co. CA now owns 794,700 shares of the restaurant operator's stock worth $30,326,000 after purchasing an additional 55,835 shares during the last quarter. Finally, Alyeska Investment Group L.P. boosted its holdings in Brinker International by 2,694.9% during the first quarter. Alyeska Investment Group L.P. now owns 761,011 shares of the restaurant operator's stock worth $29,040,000 after purchasing an additional 733,782 shares during the last quarter. 95.38% of the stock is currently owned by hedge funds and other institutional investors.
Get Brinker International alerts:Brinker International Price Performance
Shares of NYSE:EAT opened at $25.03 on Tuesday. The company's fifty day moving average price is $27.99 and its 200-day moving average price is $30.06. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 0.92 and a beta of 2.43. Brinker International, Inc. has a one year low of $21.47 and a one year high of $53.37.
Brinker International (NYSE:EAT – Get Rating) last issued its quarterly earnings results on Wednesday, August 24th. The restaurant operator reported $1.15 EPS for the quarter, missing analysts' consensus estimates of $1.16 by ($0.01). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Brinker International had a negative return on equity of 45.77% and a net margin of 3.09%. Brinker International's quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.68 EPS. As a group, equities research analysts expect that Brinker International, Inc. will post 2.6 EPS for the current year.Insider Transactions at Brinker International
In related news, EVP Rick Badgley sold 10,000 shares of the stock in a transaction on Friday, September 9th. The shares were sold at an average price of $29.66, for a total transaction of $296,600.00. Following the transaction, the executive vice president now owns 37,441 shares of the company's stock, valued at approximately $1,110,500.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 4.21% of the company's stock.
Analyst Ratings Changes
A number of research analysts have weighed in on EAT shares. Barclays dropped their target price on shares of Brinker International from $34.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 25th. Wedbush boosted their target price on shares of Brinker International from $26.00 to $29.00 and gave the company a "neutral" rating in a research note on Wednesday, August 24th. Piper Sandler dropped their target price on shares of Brinker International from $80.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, August 25th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Brinker International from $33.00 to $31.00 and set a "hold" rating on the stock in a research note on Monday, August 29th. Finally, Royal Bank of Canada boosted their target price on shares of Brinker International from $26.00 to $29.00 in a research note on Thursday, August 25th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $36.74.
About Brinker International
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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. The company operates in two segments, Chili's and Maggiano's. As of June 30, 2021, it owned, operated, or franchised 1,648 restaurants comprising 1,594 restaurants under the Chili's Grill & Bar name and 54 restaurants under the Maggiano's Little Italy brand name.
Further Reading
- Get a free copy of the StockNews.com research report on Brinker International (EAT)
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