Optimist Retirement Group LLC Reduces Position in Brinker International, Inc. (NYSE:EAT)

Optimist Retirement Group LLC trimmed its stake in Brinker International, Inc. (NYSE:EAT) by 30.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,069 shares of the restaurant operator’s stock after selling 1,322 shares during the quarter. Optimist Retirement Group LLC’s holdings in Brinker International were worth $222,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Transcendent Capital Group LLC acquired a new position in Brinker International in the 1st quarter valued at about $25,000. TFO Wealth Partners LLC grew its holdings in shares of Brinker International by 64,800.0% during the fourth quarter. TFO Wealth Partners LLC now owns 649 shares of the restaurant operator’s stock worth $28,000 after buying an additional 648 shares in the last quarter. CWM LLC raised its position in shares of Brinker International by 96.2% in the second quarter. CWM LLC now owns 416 shares of the restaurant operator’s stock valued at $30,000 after buying an additional 204 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Brinker International during the first quarter valued at approximately $47,000. Finally, Hollencrest Capital Management acquired a new stake in Brinker International during the first quarter worth approximately $50,000.

Brinker International Stock Down 1.5 %

Shares of NYSE EAT opened at $74.09 on Thursday. The stock has a fifty day moving average price of $67.38 and a 200 day moving average price of $61.30. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 19.96. Brinker International, Inc. has a 12-month low of $28.23 and a 12-month high of $76.90. The company has a market cap of $3.30 billion, a P/E ratio of 21.99, a P/E/G ratio of 1.14 and a beta of 2.52.

Brinker International (NYSE:EAT) last posted its earnings results on Wednesday, August 14th. The restaurant operator reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.17 billion. Brinker International had a net margin of 3.52% and a negative return on equity of 274.62%. Brinker International’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.39 EPS. Research analysts anticipate that Brinker International, Inc. will post 4.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EAT has been the subject of several analyst reports. Evercore ISI boosted their price target on Brinker International from $65.00 to $69.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. KeyCorp upgraded Brinker International from a “sector weight” rating to an “overweight” rating and set a $72.00 target price for the company in a research note on Thursday, August 15th. Stifel Nicolaus raised their price target on Brinker International from $62.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Bank of America upped their price objective on shares of Brinker International from $58.00 to $63.00 and gave the company an “underperform” rating in a research note on Thursday, August 15th. Finally, Morgan Stanley increased their price objective on shares of Brinker International from $42.00 to $50.00 and gave the stock an “underweight” rating in a report on Tuesday, July 16th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $61.85.

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.