Principal Financial Group Inc. Boosts Stock Position in Brinker International, Inc. (NYSE:EAT)

Principal Financial Group Inc. boosted its holdings in shares of Brinker International, Inc. (NYSE:EAT) by 23.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 272,822 shares of the restaurant operator’s stock after purchasing an additional 51,927 shares during the quarter. Principal Financial Group Inc. owned about 0.61% of Brinker International worth $20,879,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Boston Partners raised its position in Brinker International by 231.8% during the first quarter. Boston Partners now owns 1,583,239 shares of the restaurant operator’s stock valued at $78,602,000 after purchasing an additional 1,106,046 shares during the period. Marshall Wace LLP raised its holdings in Brinker International by 13,850.1% during the 2nd quarter. Marshall Wace LLP now owns 1,057,416 shares of the restaurant operator’s stock valued at $76,546,000 after buying an additional 1,049,836 shares during the period. Millennium Management LLC raised its holdings in Brinker International by 31.7% during the 2nd quarter. Millennium Management LLC now owns 942,510 shares of the restaurant operator’s stock valued at $68,228,000 after buying an additional 227,047 shares during the period. Assenagon Asset Management S.A. lifted its position in Brinker International by 1,686.8% in the second quarter. Assenagon Asset Management S.A. now owns 192,972 shares of the restaurant operator’s stock worth $13,969,000 after buying an additional 182,172 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its stake in Brinker International by 1,160.2% during the second quarter. Squarepoint Ops LLC now owns 192,268 shares of the restaurant operator’s stock worth $13,918,000 after buying an additional 177,011 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EAT. Raymond James lowered Brinker International from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 17th. Barclays upped their price objective on Brinker International from $76.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Bank Of America (Bofa) lifted their target price on Brinker International from $94.00 to $97.00 in a research report on Tuesday, October 29th. Wells Fargo & Company upped their price target on shares of Brinker International from $85.00 to $95.00 and gave the stock an “underweight” rating in a report on Thursday, October 31st. Finally, Wedbush reiterated a “neutral” rating and set a $68.00 price objective on shares of Brinker International in a report on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Brinker International currently has a consensus rating of “Hold” and a consensus price target of $86.45.

Brinker International Stock Performance

EAT opened at $118.59 on Thursday. The company has a current ratio of 0.32, a quick ratio of 0.26 and a debt-to-equity ratio of 63.54. Brinker International, Inc. has a 12-month low of $34.43 and a 12-month high of $123.66. The firm has a 50 day moving average of $88.12 and a two-hundred day moving average of $73.93. The firm has a market capitalization of $5.27 billion, a PE ratio of 28.92, a P/E/G ratio of 1.31 and a beta of 2.46.

Brinker International (NYSE:EAT) last issued its earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.26. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Brinker International had a net margin of 4.11% and a negative return on equity of 839.19%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.28 earnings per share. On average, analysts anticipate that Brinker International, Inc. will post 5.53 EPS for the current year.

Insider Transactions at Brinker International

In related news, CFO Michaela M. Ware sold 3,753 shares of Brinker International stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $103.02, for a total transaction of $386,634.06. Following the completion of the transaction, the chief financial officer now directly owns 23,071 shares in the company, valued at approximately $2,376,774.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.72% of the company’s stock.

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.