State of New Jersey Common Pension Fund D Trims Stock Holdings in Brinker International, Inc. (NYSE:EAT)

State of New Jersey Common Pension Fund D trimmed its holdings in Brinker International, Inc. (NYSE:EAT) by 36.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,827 shares of the restaurant operator’s stock after selling 10,036 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Brinker International were worth $2,358,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vontobel Holding Ltd. purchased a new position in Brinker International during the 3rd quarter worth $218,000. Allspring Global Investments Holdings LLC increased its holdings in Brinker International by 12.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 113,946 shares of the restaurant operator’s stock worth $8,720,000 after purchasing an additional 12,800 shares during the period. International Assets Investment Management LLC purchased a new position in Brinker International during the 3rd quarter worth $18,330,000. Burford Brothers Inc. purchased a new position in Brinker International during the 3rd quarter worth $203,000. Finally, NorthCrest Asset Manangement LLC increased its holdings in Brinker International by 1.1% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 12,015 shares of the restaurant operator’s stock worth $920,000 after purchasing an additional 135 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have commented on EAT shares. Piper Sandler raised their price objective on Brinker International from $62.00 to $97.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Wells Fargo & Company increased their target price on Brinker International from $145.00 to $175.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Citigroup increased their target price on Brinker International from $166.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. StockNews.com raised Brinker International from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Finally, Morgan Stanley raised Brinker International from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $70.00 to $115.00 in a research report on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $140.18.

Insiders Place Their Bets

In other Brinker International news, COO Douglas N. Comings sold 7,500 shares of Brinker International stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $187.90, for a total transaction of $1,409,250.00. Following the completion of the sale, the chief operating officer now owns 34,252 shares of the company’s stock, valued at approximately $6,435,950.80. The trade was a 17.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Cindy L. Davis sold 5,802 shares of Brinker International stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $187.86, for a total value of $1,089,963.72. Following the transaction, the director now owns 11,107 shares of the company’s stock, valued at $2,086,561.02. The trade was a 34.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,802 shares of company stock valued at $3,752,464. 1.72% of the stock is owned by company insiders.

Brinker International Stock Down 4.7 %

Brinker International stock opened at $153.78 on Friday. The business has a fifty day moving average price of $150.57 and a 200-day moving average price of $112.23. Brinker International, Inc. has a 1-year low of $43.37 and a 1-year high of $192.21. The company has a debt-to-equity ratio of 4.96, a current ratio of 0.33 and a quick ratio of 0.27. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 0.54 and a beta of 2.54.

Brinker International (NYSE:EAT) last issued its quarterly earnings results on Wednesday, January 29th. The restaurant operator reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $1.43. Brinker International had a return on equity of 879.47% and a net margin of 5.45%. Equities research analysts forecast that Brinker International, Inc. will post 8.3 EPS 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.