Bridgefront Capital LLC purchased a new position in shares of Brinker International, Inc. (NYSE:EAT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,617 shares of the restaurant operator’s stock, valued at approximately $471,000.
Other large investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new position in Brinker International in the first quarter valued at $30,000. FORA Capital LLC lifted its holdings in Brinker International by 138.2% in the first quarter. FORA Capital LLC now owns 1,003 shares of the restaurant operator’s stock valued at $71,000 after buying an additional 582 shares during the period. Harbor Investment Advisory LLC lifted its holdings in Brinker International by 132.3% in the second quarter. Harbor Investment Advisory LLC now owns 1,057 shares of the restaurant operator’s stock valued at $65,000 after buying an additional 602 shares during the period. Verition Fund Management LLC acquired a new position in Brinker International in the first quarter valued at $205,000. Finally, Point72 Hong Kong Ltd lifted its holdings in Brinker International by 48.2% in the first quarter. Point72 Hong Kong Ltd now owns 2,887 shares of the restaurant operator’s stock valued at $205,000 after buying an additional 939 shares during the period. Institutional investors own 95.70% of the company’s stock.
In related news, CFO Joseph G. Taylor sold 1,408 shares of the company’s stock in a transaction that occurred on Wednesday, August 25th. The shares were sold at an average price of $54.28, for a total transaction of $76,426.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.72% of the company’s stock.
Brinker International (NYSE:EAT) last released its earnings results on Tuesday, August 17th. The restaurant operator reported $1.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.72 by ($0.04). The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. Brinker International had a net margin of 3.94% and a negative return on equity of 36.28%. The firm’s revenue was up 79.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.88) earnings per share. On average, sell-side analysts expect that Brinker International, Inc. will post 4.77 EPS for the current year.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Brinker International from a “hold” rating to a “sell” rating and set a $65.00 price objective on the stock. in a report on Thursday, July 1st. Raymond James dropped their price objective on shares of Brinker International from $75.00 to $67.50 and set an “outperform” rating on the stock in a report on Thursday, August 19th. Stephens upped their price objective on shares of Brinker International from $68.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, August 19th. Morgan Stanley dropped their price objective on shares of Brinker International from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Thursday, August 19th. Finally, Stifel Nicolaus lowered shares of Brinker International from a “buy” rating to a “hold” rating and dropped their price objective for the company from $62.00 to $55.00 in a report on Monday, August 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $67.92.
Brinker International Company Profile
Brinker International, Inc engages in owning, developing, and franchising Chili’s Grill and Bar and Maggiano’s Little Italy restaurant brands. It operates through the following segments: Chili’s, and Maggiano’s. The Chili’s segment includes the results of company-owned Chili’s restaurants in the U.S.
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