Covestor Ltd Grows Stake in Brinker International, Inc. (NYSE:EAT)

Covestor Ltd grew its stake in shares of Brinker International, Inc. (NYSE:EAT) by 32,500.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,304 shares of the restaurant operator’s stock after acquiring an additional 1,300 shares during the period. Covestor Ltd’s holdings in Brinker International were worth $65,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of EAT. SG Americas Securities LLC grew its holdings in Brinker International by 5.5% during the fourth quarter. SG Americas Securities LLC now owns 23,079 shares of the restaurant operator’s stock valued at $997,000 after purchasing an additional 1,205 shares during the period. Raymond James & Associates grew its stake in shares of Brinker International by 52.9% during the 4th quarter. Raymond James & Associates now owns 39,274 shares of the restaurant operator’s stock worth $1,696,000 after acquiring an additional 13,582 shares during the period. Raymond James Financial Services Advisors Inc. increased 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 worth $1,004,000 after acquiring an additional 13,895 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake 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 acquiring an additional 2,410 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Brinker International by 4.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,747 shares of the restaurant operator’s stock valued at $853,000 after purchasing an additional 874 shares during the last quarter.

Insider Buying and Selling at Brinker International

In other news, SVP Daniel S. Fuller sold 3,611 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $69.04, for a total transaction of $249,303.44. Following the completion of the transaction, the senior vice president now directly owns 34,764 shares of the company’s stock, valued at $2,400,106.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Daniel S. Fuller sold 3,611 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $69.04, for a total transaction of $249,303.44. Following the transaction, the senior vice president now owns 34,764 shares in the company, valued at approximately $2,400,106.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Joseph G. Taylor sold 40,050 shares of Brinker International stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $60.45, for a total value of $2,421,022.50. Following the completion of the sale, the chief financial officer now owns 66,286 shares in the company, valued at $4,006,988.70. The disclosure for this sale can be found here. Insiders sold 57,714 shares of company stock valued at $3,637,623 in the last quarter. Company insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EAT. JPMorgan Chase & Co. upped their price target on shares of Brinker International from $48.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, May 28th. Evercore ISI raised their price target on Brinker International from $53.00 to $65.00 and gave the stock an “in-line” rating in a report on Wednesday, May 22nd. Stifel Nicolaus upped their price target on Brinker International from $62.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Wedbush boosted their price objective on shares of Brinker International from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Finally, Morgan Stanley increased their target price on shares of Brinker International from $42.00 to $50.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $56.03.

Brinker International Price Performance

Shares of NYSE EAT opened at $62.67 on Thursday. The stock has a market capitalization of $2.79 billion, a P/E ratio of 18.60, a PEG ratio of 0.67 and a beta of 2.51. Brinker International, Inc. has a one year low of $28.23 and a one year high of $76.02. The firm’s 50 day simple moving average is $68.21 and its two-hundred day simple moving average is $54.31.

Brinker International (NYSE:EAT) last announced its quarterly earnings data on Tuesday, April 30th. The restaurant operator reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.09. Brinker International had a negative return on equity of 154.29% and a net margin of 3.55%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the firm earned $1.23 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities analysts expect that Brinker International, Inc. will post 4.11 earnings per share for the current fiscal year.

About Brinker International

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.