Advisors Asset Management Inc. Decreases Stock Holdings in Brinker International, Inc. (NYSE:EAT)

Advisors Asset Management Inc. trimmed its position in shares of Brinker International, Inc. (NYSE:EAT) by 57.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 702 shares of the restaurant operator’s stock after selling 952 shares during the period. Advisors Asset Management Inc.’s holdings in Brinker International were worth $50,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Alliancebernstein L.P. increased its position in shares of Brinker International by 12.5% during the 1st quarter. Alliancebernstein L.P. now owns 73,086 shares of the restaurant operator’s stock valued at $5,193,000 after purchasing an additional 8,120 shares during the last quarter. Norges Bank bought a new position in shares of Brinker International during the 4th quarter valued at approximately $29,715,000. Morgan Stanley increased its position in shares of Brinker International by 2.0% during the 4th quarter. Morgan Stanley now owns 240,337 shares of the restaurant operator’s stock valued at $13,595,000 after purchasing an additional 4,726 shares during the last quarter. Carlson Capital L P increased its position in shares of Brinker International by 26.4% during the 4th quarter. Carlson Capital L P now owns 822,783 shares of the restaurant operator’s stock valued at $46,545,000 after purchasing an additional 171,652 shares during the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Brinker International by 111.8% during the 4th quarter. Captrust Financial Advisors now owns 14,629 shares of the restaurant operator’s stock valued at $828,000 after purchasing an additional 7,721 shares during the last quarter. 99.07% of the stock is currently owned by institutional investors and hedge funds.

Shares of EAT stock opened at $60.89 on Friday. Brinker International, Inc. has a twelve month low of $20.72 and a twelve month high of $78.33. The stock has a market cap of $2.79 billion, a PE ratio of 3,046.02, a price-to-earnings-growth ratio of 1.94 and a beta of 2.80. The stock has a fifty day moving average price of $64.51.

Brinker International (NYSE:EAT) last issued its earnings results on Tuesday, April 27th. The restaurant operator reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.01. Brinker International had a negative return on equity of 6.66% and a net margin of 0.26%. The business had revenue of $828.40 million during the quarter, compared to analysts’ expectations of $837.55 million. During the same period in the prior year, the business earned $1.28 EPS. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, equities analysts anticipate that Brinker International, Inc. will post 3.11 earnings per share for the current fiscal year.

EAT has been the topic of several analyst reports. JPMorgan Chase & Co. raised Brinker International from a “neutral” rating to an “overweight” rating and set a $78.00 target price on the stock in a research report on Friday, May 7th. Stephens cut their price objective on Brinker International from $80.00 to $75.00 and set an “overweight” rating on the stock in a research report on Wednesday. Telsey Advisory Group upped their price objective on Brinker International from $65.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, April 29th. MKM Partners upped their price objective on Brinker International from $75.00 to $82.00 in a research report on Thursday, April 1st. Finally, BMO Capital Markets upped their price objective on Brinker International from $80.00 to $83.00 and gave the company an “outperform” rating in a research report on Tuesday. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $68.50.

In related news, CEO Wyman Roberts sold 102,882 shares of the business’s stock in a transaction that occurred on Thursday, April 29th. The shares were sold at an average price of $70.63, for a total transaction of $7,266,555.66. Following the completion of the transaction, the chief executive officer now owns 338,668 shares in the company, valued at approximately $23,920,120.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Harriet Edelman sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, April 29th. The stock was sold at an average price of $70.30, for a total transaction of $316,350.00. Following the transaction, the director now owns 26,231 shares of the company’s stock, valued at approximately $1,844,039.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 308,129 shares of company stock valued at $21,152,412. Insiders own 3.72% of the company’s stock.

About Brinker International

Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants in the United States and internationally. As of June 24, 2020, it owned, operated, or franchised 1,663 restaurants comprising 1,610 restaurants under the Chili's Grill & Bar name and 53 restaurants under the Maggiano's Little Italy brand name.

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Institutional Ownership by Quarter for Brinker International (NYSE:EAT)

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