Optimize Financial Inc Makes New Investment in Brinker International, Inc. (NYSE:EAT)

Optimize Financial Inc acquired a new position in Brinker International, Inc. (NYSE:EAT - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 7,692 shares of the restaurant operator's stock, valued at approximately $1,018,000.

A number of other large investors have also recently added to or reduced their stakes in EAT. Hennessy Advisors Inc. purchased a new stake in Brinker International in the 4th quarter valued at approximately $81,888,000. Assenagon Asset Management S.A. raised its holdings in shares of Brinker International by 2,612.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 588,594 shares of the restaurant operator's stock worth $77,865,000 after acquiring an additional 566,894 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in shares of Brinker International by 1,145.2% in the fourth quarter. Wedge Capital Management L L P NC now owns 416,044 shares of the restaurant operator's stock valued at $55,038,000 after acquiring an additional 382,633 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Brinker International by 4,710.3% during the fourth quarter. American Century Companies Inc. now owns 280,824 shares of the restaurant operator's stock valued at $37,150,000 after acquiring an additional 274,986 shares during the last quarter. Finally, Norges Bank purchased a new stake in Brinker International during the 4th quarter worth about $21,549,000.

Brinker International Stock Up 2.3 %

Shares of EAT stock traded up $3.39 during trading hours on Tuesday, reaching $151.03. The company had a trading volume of 1,513,232 shares, compared to its average volume of 1,457,122. The stock's fifty day simple moving average is $149.75 and its 200 day simple moving average is $133.38. The company has a market capitalization of $6.71 billion, a P/E ratio of 26.17, a price-to-earnings-growth ratio of 0.49 and a beta of 2.21. The company has a debt-to-equity ratio of 4.96, a quick ratio of 0.27 and a current ratio of 0.33. Brinker International, Inc. has a twelve month low of $43.37 and a twelve month high of $192.22.

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Brinker International (NYSE:EAT - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The restaurant operator reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $1.43. Brinker International had a net margin of 5.45% and a return on equity of 879.47%. As a group, sell-side analysts expect that Brinker International, Inc. will post 8.3 earnings per share for the current fiscal year.

Insider Activity

In other Brinker International news, COO Douglas N. Comings sold 7,500 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $167.10, for a total transaction of $1,253,250.00. Following the transaction, the chief operating officer now directly owns 26,752 shares in the company, valued at $4,470,259.20. This represents a 21.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Cindy L. Davis sold 5,802 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $187.86, for a total transaction of $1,089,963.72. Following the completion of the sale, the director now directly owns 11,107 shares of the company's stock, valued at $2,086,561.02. The trade was a 34.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,802 shares of company stock worth $3,752,464 over the last ninety days. Corporate insiders own 1.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Stifel Nicolaus upped their target price on shares of Brinker International from $155.00 to $170.00 and gave the company a "buy" rating in a report on Monday, January 27th. Morgan Stanley raised shares of Brinker International from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $70.00 to $115.00 in a research note on Friday, December 20th. The Goldman Sachs Group raised their target price on shares of Brinker International from $162.00 to $208.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Wedbush boosted their price target on Brinker International from $140.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Finally, Citigroup decreased their price objective on Brinker International from $185.00 to $170.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Brinker International has a consensus rating of "Hold" and a consensus price target of $139.39.

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.