Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in Brinker International, Inc. (NYSE:EAT)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Brinker International, Inc. (NYSE:EAT) by 28.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,022 shares of the restaurant operator’s stock after buying an additional 2,883 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Brinker International were worth $997,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EAT. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Brinker International by 9.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 118,300 shares of the restaurant operator’s stock worth $9,053,000 after purchasing an additional 10,300 shares in the last quarter. Blueshift Asset Management LLC lifted its stake in shares of Brinker International by 158.4% in the third quarter. Blueshift Asset Management LLC now owns 21,774 shares of the restaurant operator’s stock valued at $1,666,000 after purchasing an additional 13,347 shares during the period. Qsemble Capital Management LP purchased a new stake in Brinker International during the third quarter worth about $941,000. Bank of Montreal Can grew its position in Brinker International by 771.8% during the third quarter. Bank of Montreal Can now owns 64,323 shares of the restaurant operator’s stock worth $4,862,000 after buying an additional 56,945 shares during the period. Finally, Dynamic Technology Lab Private Ltd increased its holdings in Brinker International by 704.9% in the third quarter. Dynamic Technology Lab Private Ltd now owns 100,063 shares of the restaurant operator’s stock valued at $7,658,000 after buying an additional 87,632 shares in the last quarter.

Brinker International Trading Up 1.5 %

NYSE EAT opened at $130.77 on Friday. The company has a market cap of $5.81 billion, a P/E ratio of 31.90, a P/E/G ratio of 1.43 and a beta of 2.51. Brinker International, Inc. has a 12 month low of $37.25 and a 12 month high of $133.82. The company has a debt-to-equity ratio of 63.54, a current ratio of 0.32 and a quick ratio of 0.26. The company has a 50-day moving average of $104.08 and a 200-day moving average of $81.13.

Brinker International (NYSE:EAT) last released its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.26. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the firm posted $0.28 EPS. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, equities analysts predict that Brinker International, Inc. will post 5.52 earnings per share for the current year.

Insider Activity

In related news, CFO Michaela M. Ware sold 3,753 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $103.02, for a total transaction of $386,634.06. Following the completion of the sale, the chief financial officer now owns 23,071 shares of the company’s stock, valued at approximately $2,376,774.42. This represents a 13.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.72% of the company’s stock.

Analyst Upgrades and Downgrades

EAT has been the topic of several research analyst reports. Piper Sandler boosted their price target on Brinker International from $62.00 to $97.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Evercore ISI upped their target price on Brinker International from $69.00 to $90.00 and gave the company an “in-line” rating in a report on Tuesday, October 15th. UBS Group lifted their price target on Brinker International from $70.00 to $94.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company increased their price objective on shares of Brinker International from $85.00 to $95.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. Finally, Wedbush restated a “neutral” rating and set a $68.00 target price on shares of Brinker International in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Brinker International currently has an average rating of “Hold” and an average price target of $89.63.

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.