Hsbc Holdings PLC Cuts Stake in Brinker International, Inc. $EAT

Hsbc Holdings PLC reduced its position in Brinker International, Inc. (NYSE:EAT) by 83.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,540 shares of the restaurant operator’s stock after selling 27,876 shares during the quarter. Hsbc Holdings PLC’s holdings in Brinker International were worth $792,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in EAT. NewEdge Advisors LLC increased its position in Brinker International by 1,118.9% during the 1st quarter. NewEdge Advisors LLC now owns 1,158 shares of the restaurant operator’s stock valued at $173,000 after purchasing an additional 1,063 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Brinker International by 271.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 846 shares of the restaurant operator’s stock worth $153,000 after purchasing an additional 618 shares during the period. First Trust Advisors LP boosted its stake in shares of Brinker International by 1.9% during the second quarter. First Trust Advisors LP now owns 52,249 shares of the restaurant operator’s stock valued at $9,422,000 after purchasing an additional 978 shares in the last quarter. Baird Financial Group Inc. bought a new position in shares of Brinker International during the second quarter valued at approximately $3,222,000. Finally, Brown Advisory Inc. boosted its stake in shares of Brinker International by 33.0% during the second quarter. Brown Advisory Inc. now owns 1,789 shares of the restaurant operator’s stock valued at $323,000 after purchasing an additional 444 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Barclays boosted their price objective on shares of Brinker International from $170.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. TD Cowen lifted their price target on Brinker International from $170.00 to $210.00 and gave the company a “buy” rating in a report on Monday, July 20th. Morgan Stanley boosted their price target on Brinker International from $205.00 to $207.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Weiss Ratings upgraded Brinker International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, June 16th. Finally, Wells Fargo & Company raised their price objective on Brinker International from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $193.25.

Brinker International Price Performance

Shares of EAT opened at $205.68 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.40 and a quick ratio of 0.35. The company’s fifty day moving average price is $166.10 and its 200-day moving average price is $155.34. Brinker International, Inc. has a 1-year low of $100.30 and a 1-year high of $208.88. The firm has a market capitalization of $8.82 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 1.18 and a beta of 1.24.

Brinker International (NYSE:EAT) last issued its earnings results on Wednesday, April 29th. The restaurant operator reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.05. Brinker International had a return on equity of 123.22% and a net margin of 8.07%.The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the business posted $2.66 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. On average, equities research analysts predict that Brinker International, Inc. will post 10.76 EPS for the current year.

About Brinker International

Brinker International, Inc (NYSE: EAT) is a leading global operator of casual dining restaurants. The company’s portfolio is anchored by its flagship Chili’s® Grill & Bar concept and Maggiano’s® Little Italy full‐service restaurants, offering a range of American‐style menu items, handcrafted cocktails and family‐friendly dining experiences. Through dine‐in, takeout, delivery and catering services, Brinker seeks to meet consumer preferences across multiple channels.

The Chili’s brand features signature items such as baby back ribs, burgers and fajitas alongside a rotating selection of limited‐time offerings and seasonal beverages.