3,204 Shares of Brinker International, Inc. $EAT Bought by Providence First Trust Co

Providence First Trust Co purchased a new position in shares of Brinker International, Inc. (NYSE:EAT) during the third quarter, Holdings Channel.com reports. The fund purchased 3,204 shares of the restaurant operator’s stock, valued at approximately $620,000.

A number of other large investors have also modified their holdings of EAT. BlackRock Inc. raised its position in shares of 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 purchasing an additional 145,525 shares during the last quarter. State Street Corp boosted its stake in Brinker International by 3.5% in the 2nd quarter. State Street Corp now owns 1,748,760 shares of the restaurant operator’s stock worth $293,786,000 after purchasing an additional 59,120 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in 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 purchasing an additional 9,692 shares during the last quarter. Freestone Grove Partners LP purchased a new stake in Brinker International during the 2nd quarter worth approximately $91,237,000. Finally, Wellington Management Group LLP grew its position in Brinker International by 63.7% during the 2nd quarter. Wellington Management Group LLP now owns 413,472 shares of the restaurant operator’s stock worth $69,463,000 after purchasing an additional 160,939 shares during the last quarter.

Insider Activity

In related news, Director Joseph DePinto sold 25,000 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $230.39, for a total transaction of $5,759,750.00. Following the completion of the transaction, the director directly owned 77,812 shares in the company, valued at $17,927,106.68. The trade was a 24.32% 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, EVP George Felix sold 14,349 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $237.47, for a total transaction of $3,407,457.03. Following the completion of the sale, the executive vice president directly owned 6,293 shares in the company, valued at approximately $1,494,398.71. The trade was a 69.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 213,694 shares of company stock valued at $50,383,890 over the last quarter. Insiders own 1.18% of the company’s stock.

Brinker International Stock Performance

NYSE:EAT traded down $5.91 during midday trading on Friday, hitting $206.75. The company’s stock had a trading volume of 1,130,082 shares, compared to its average volume of 1,385,515. Brinker International, Inc. has a fifty-two week low of $101.37 and a fifty-two week high of $254.99. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.34 and a quick ratio of 0.29. The firm has a market cap of $8.59 billion, a P/E ratio of 18.20, a P/E/G ratio of 1.07 and a beta of 1.37. The firm’s 50 day moving average is $206.16 and its 200-day moving average is $175.79.

Brinker International (NYSE:EAT) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.46 billion. Brinker International had a net margin of 8.44% and a return on equity of 125.65%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.17 EPS. Equities analysts anticipate that Brinker International, Inc. will post 13.70 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on EAT shares. Wells Fargo & Company raised their price target on shares of Brinker International from $270.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Jefferies Financial Group raised shares of Brinker International from a “hold” rating to a “buy” rating and boosted their price objective for the company from $230.00 to $255.00 in a report on Wednesday, October 14th. Weiss Ratings downgraded Brinker International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 30th. DA Davidson cut their target price on Brinker International from $240.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, September 21st. Finally, Stephens restated an “overweight” rating and issued a $300.00 target price on shares of Brinker International in a research note on Thursday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $249.80.

About Brinker International

Brinker International, Inc is a casual-dining restaurant company that owns, operates and franchises restaurants in the United States and select international markets. The company is headquartered in Dallas, Texas, and serves customers through company-operated and franchised locations.

Brinker’s principal brands are Chili’s Grill & Bar and Maggiano’s Little Italy. Chili’s offers a broad menu of burgers, steaks, ribs, fajitas, Tex-Mex dishes, salads and beverages in a full-service, casual setting.