110,000 Shares in Brinker International, Inc. (NYSE:EAT) Bought by Shellback Capital LP

Shellback Capital LP bought a new stake in Brinker International, Inc. (NYSE:EAT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 110,000 shares of the restaurant operator’s stock, valued at approximately $7,963,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EAT. Mackenzie Financial Corp bought a new stake in shares of Brinker International in the 2nd quarter valued at about $204,000. The Manufacturers Life Insurance Company increased its stake in Brinker International by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 23,765 shares of the restaurant operator’s stock valued at $1,720,000 after purchasing an additional 1,025 shares in the last quarter. Millennium Management LLC raised its holdings in Brinker International by 31.7% in the second quarter. Millennium Management LLC now owns 942,510 shares of the restaurant operator’s stock worth $68,228,000 after purchasing an additional 227,047 shares during the period. Squarepoint Ops LLC raised its holdings in Brinker International by 1,160.2% in the second quarter. Squarepoint Ops LLC now owns 192,268 shares of the restaurant operator’s stock worth $13,918,000 after purchasing an additional 177,011 shares during the period. Finally, Marshall Wace LLP boosted its position in shares of Brinker International by 13,850.1% during the second quarter. Marshall Wace LLP now owns 1,057,416 shares of the restaurant operator’s stock worth $76,546,000 after purchasing an additional 1,049,836 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts recently commented on EAT shares. KeyCorp upgraded shares of Brinker International from a “sector weight” rating to an “overweight” rating and set a $72.00 price objective for the company in a research report on Thursday, August 15th. Wedbush restated a “neutral” rating and issued a $68.00 price target on shares of Brinker International in a report on Thursday, August 15th. Bank of America lifted their price objective on Brinker International from $58.00 to $63.00 and gave the company an “underperform” rating in a report on Thursday, August 15th. Evercore ISI increased their target price on Brinker International from $65.00 to $69.00 and gave the stock an “in-line” rating in a research note on Thursday, August 15th. Finally, Morgan Stanley raised their target price 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 research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.53.

Brinker International Stock Up 0.9 %

Brinker International stock opened at $76.77 on Friday. 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 1-year low of $28.23 and a 1-year high of $79.85. The company has a fifty day simple moving average of $69.01 and a 200 day simple moving average of $62.50. The company has a market cap of $3.42 billion, a P/E ratio of 22.78, a price-to-earnings-growth ratio of 1.27 and a beta of 2.52.

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