Norges Bank Invests $21.55 Million in Brinker International, Inc. (NYSE:EAT)

Norges Bank purchased a new position in shares of Brinker International, Inc. (NYSE:EAT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 162,891 shares of the restaurant operator's stock, valued at approximately $21,549,000. Norges Bank owned about 0.37% of Brinker International as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in EAT. Wolff Wiese Magana LLC grew its holdings in shares of Brinker International by 100.0% during the fourth quarter. Wolff Wiese Magana LLC now owns 200 shares of the restaurant operator's stock worth $26,000 after buying an additional 100 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Brinker International by 123.9% in the 4th quarter. GAMMA Investing LLC now owns 309 shares of the restaurant operator's stock valued at $41,000 after purchasing an additional 171 shares during the last quarter. R Squared Ltd acquired a new position in shares of Brinker International in the fourth quarter valued at approximately $83,000. SBI Securities Co. Ltd. purchased a new stake in shares of Brinker International during the fourth quarter worth approximately $126,000. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Brinker International during the fourth quarter worth $146,000.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on EAT shares. Wedbush boosted their price objective on shares of Brinker International from $140.00 to $185.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. BMO Capital Markets boosted their price target on shares of Brinker International from $105.00 to $125.00 and gave the stock a "market perform" rating in a research note on Monday, January 27th. Argus raised shares of Brinker International from a "hold" rating to a "buy" rating and set a $150.00 price target for the company in a report on Tuesday, December 24th. UBS Group lifted their price objective on Brinker International from $108.00 to $146.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Finally, Citigroup cut their target price on Brinker International from $185.00 to $170.00 and set a "neutral" rating for the company in a research note on Thursday. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $139.39.

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Insider Activity

In related news, Director Cindy L. Davis sold 5,802 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $187.86, for a total transaction of $1,089,963.72. Following the transaction, the director now owns 11,107 shares of the company's stock, valued at approximately $2,086,561.02. This represents a 34.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Douglas N. Comings sold 7,500 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $167.10, for a total transaction of $1,253,250.00. Following the sale, the chief operating officer now owns 26,752 shares in the company, valued at approximately $4,470,259.20. This trade represents a 21.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,802 shares of company stock worth $3,752,464 over the last three months. 1.72% of the stock is currently owned by corporate insiders.

Brinker International Price Performance

EAT traded up $1.22 during midday trading on Friday, reaching $143.99. 1,277,148 shares of the company's stock were exchanged, compared to its average volume of 1,457,793. Brinker International, Inc. has a 1-year low of $43.37 and a 1-year high of $192.22. The stock has a market capitalization of $6.39 billion, a PE ratio of 24.96, a P/E/G ratio of 0.49 and a beta of 2.21. 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 business's 50-day moving average price is $151.17 and its 200 day moving average price is $132.36.

Brinker International (NYSE:EAT - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The restaurant operator reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $1.43. Brinker International had a return on equity of 879.47% and a net margin of 5.45%. As a group, equities analysts anticipate 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.