Royal Bank of Canada Buys 85,656 Shares of Brinker International, Inc. $EAT

Royal Bank of Canada grew its position in Brinker International, Inc. (NYSE:EAT) by 114.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 160,740 shares of the restaurant operator’s stock after buying an additional 85,656 shares during the quarter. Royal Bank of Canada’s holdings in Brinker International were worth $22,948,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP increased its stake in shares of Brinker International by 58.5% in the 3rd quarter. Allworth Financial LP now owns 225 shares of the restaurant operator’s stock valued at $28,000 after purchasing an additional 83 shares during the last quarter. Rezny Wealth Management Inc. lifted its position in shares of Brinker International by 0.8% during the 4th quarter. Rezny Wealth Management Inc. now owns 11,738 shares of the restaurant operator’s stock worth $1,685,000 after buying an additional 92 shares during the last quarter. Salomon & Ludwin LLC lifted its position in shares of Brinker International by 45.1% during the 4th quarter. Salomon & Ludwin LLC now owns 299 shares of the restaurant operator’s stock worth $45,000 after buying an additional 93 shares during the last quarter. New Age Alpha Advisors LLC boosted its stake in Brinker International by 4.8% in the fourth quarter. New Age Alpha Advisors LLC now owns 2,047 shares of the restaurant operator’s stock valued at $294,000 after buying an additional 94 shares in the last quarter. Finally, Aviva PLC boosted its stake in Brinker International by 2.8% in the fourth quarter. Aviva PLC now owns 4,123 shares of the restaurant operator’s stock valued at $592,000 after buying an additional 112 shares in the last quarter.

Brinker International Stock Performance

Shares of EAT stock opened at $225.85 on Thursday. The stock has a market capitalization of $9.69 billion, a PE ratio of 22.14, a PEG ratio of 1.29 and a beta of 1.24. The business’s 50 day simple moving average is $174.13 and its 200 day simple moving average is $157.21. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.40 and a quick ratio of 0.35. Brinker International, Inc. has a one year low of $100.30 and a one year high of $226.70.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on EAT shares. Barclays upped their price objective on shares of Brinker International from $170.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Weiss Ratings upgraded shares of Brinker International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 16th. Citigroup boosted their target price on shares of Brinker International from $189.00 to $227.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Wells Fargo & Company upped their price target on shares of Brinker International from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Finally, Morgan Stanley increased their price target on Brinker International from $205.00 to $207.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Brinker International presently has an average rating of “Moderate Buy” and an average price target of $193.25.

About Brinker International

Brinker International, Inc (NYSE: EAT) is a leading global operator of casual dining restaurants. The company’s portfolio is anchored by its flagship Chili’s® Grill & Bar concept and Maggiano’s® Little Italy full‐service restaurants, offering a range of American‐style menu items, handcrafted cocktails and family‐friendly dining experiences. Through dine‐in, takeout, delivery and catering services, Brinker seeks to meet consumer preferences across multiple channels.

The Chili’s brand features signature items such as baby back ribs, burgers and fajitas alongside a rotating selection of limited‐time offerings and seasonal beverages.