Geode Capital Management LLC Boosts Position in Brinker International, Inc. (NYSE:EAT)

Geode Capital Management LLC grew its position in Brinker International, Inc. (NYSE:EAT) by 0.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 998,278 shares of the restaurant operator’s stock after purchasing an additional 8,105 shares during the period. Geode Capital Management LLC’s holdings in Brinker International were worth $76,413,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in EAT. CWM LLC lifted its holdings 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 purchasing an additional 204 shares in the last quarter. Signaturefd LLC increased its position in Brinker International by 33.2% during the second quarter. Signaturefd LLC now owns 986 shares of the restaurant operator’s stock worth $71,000 after buying an additional 246 shares in the last quarter. Quest Partners LLC raised its holdings in shares of Brinker International by 1,265.2% in the second quarter. Quest Partners LLC now owns 1,884 shares of the restaurant operator’s stock worth $136,000 after acquiring an additional 1,746 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Brinker International by 1,111.8% in the second quarter. Fifth Third Bancorp now owns 2,266 shares of the restaurant operator’s stock valued at $164,000 after acquiring an additional 2,079 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Brinker International during the second quarter valued at $166,000.

Brinker International Trading Up 2.2 %

NYSE:EAT opened at $134.26 on Friday. The firm has a market capitalization of $5.96 billion, a PE ratio of 32.75, a price-to-earnings-growth ratio of 1.46 and a beta of 2.51. The company has a debt-to-equity ratio of 63.54, a current ratio of 0.32 and a quick ratio of 0.26. Brinker International, Inc. has a 12 month low of $37.25 and a 12 month high of $136.15. The business’s 50-day moving average is $114.81 and its two-hundred day moving average is $85.79.

Brinker International (NYSE:EAT) last posted its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.26. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.10 billion. Brinker International had a net margin of 4.11% and a negative return on equity of 839.19%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 earnings per share. Research analysts predict that Brinker International, Inc. will post 5.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on EAT shares. Wells Fargo & Company upgraded shares of Brinker International from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $95.00 to $130.00 in a report on Thursday, December 12th. Piper Sandler lifted their target price on shares of Brinker International from $62.00 to $97.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. lowered Brinker International from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $67.00 to $100.00 in a research note on Thursday, October 31st. Stifel Nicolaus upped their target price on Brinker International from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Barclays raised their price target on Brinker International from $76.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Sixteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $94.63.

Insiders Place Their Bets

In other Brinker International 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 sale, the chief financial officer now directly owns 23,071 shares in the company, valued at $2,376,774.42. The trade was a 13.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.72% of the stock is currently owned by company insiders.

Brinker International Company Profile

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.