Allspring Global Investments Holdings LLC Reduces Stock Holdings in Brinker International, Inc. (NYSE:EAT)

Allspring Global Investments Holdings LLC reduced its stake in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 41.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,342 shares of the restaurant operator's stock after selling 47,604 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.15% of Brinker International worth $8,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Entropy Technologies LP purchased a new position in shares of Brinker International in the fourth quarter valued at $410,000. Principal Financial Group Inc. grew its holdings in shares of Brinker International by 23.5% in the third quarter. Principal Financial Group Inc. now owns 272,822 shares of the restaurant operator's stock valued at $20,879,000 after purchasing an additional 51,927 shares in the last quarter. Stephens Inc. AR purchased a new position in shares of Brinker International in the fourth quarter valued at $661,000. Empowered Funds LLC purchased a new position in shares of Brinker International in the third quarter valued at $5,330,000. Finally, Intech Investment Management LLC grew its holdings in shares of Brinker International by 399.9% in the third quarter. Intech Investment Management LLC now owns 24,102 shares of the restaurant operator's stock valued at $1,845,000 after purchasing an additional 19,281 shares in the last quarter.

Insider Activity at Brinker International

In other Brinker International news, COO Douglas N. Comings sold 7,500 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $187.90, for a total value of $1,409,250.00. Following the completion of the sale, the chief operating officer now directly owns 34,252 shares in the company, valued at $6,435,950.80. This trade represents a 17.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cindy L. Davis sold 5,802 shares of Brinker International stock in a transaction on 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 transaction, the director now directly owns 11,107 shares in the company, valued at $2,086,561.02. This represents a 34.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,802 shares of company stock worth $3,752,464 over the last three months. 1.72% of the stock is owned by corporate insiders.

Brinker International Stock Down 5.7 %

Shares of EAT stock traded down $8.79 on Friday, hitting $144.74. The stock had a trading volume of 2,017,617 shares, compared to its average volume of 1,413,045. The company has a quick ratio of 0.27, a current ratio of 0.33 and a debt-to-equity ratio of 4.96. The business has a 50 day moving average price of $150.57 and a 200 day moving average price of $112.23. The company has a market cap of $6.43 billion, a PE ratio of 25.08, a P/E/G ratio of 0.52 and a beta of 2.54. Brinker International, Inc. has a one year low of $43.37 and a one year high of $192.21.

Brinker International (NYSE:EAT - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The restaurant operator reported $2.80 earnings per share for the quarter, beating 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%. Research analysts anticipate that Brinker International, Inc. will post 8.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EAT has been the subject of a number of recent research reports. StockNews.com raised shares of Brinker International from a "hold" rating to a "buy" rating in a report on Friday, January 31st. Morgan Stanley raised shares of Brinker International from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $70.00 to $115.00 in a report on Friday, December 20th. Citigroup raised their target price on shares of Brinker International from $166.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. BMO Capital Markets raised their price target on Brinker International from $105.00 to $125.00 and gave the stock a "market perform" rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company raised their price target on Brinker International from $145.00 to $175.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. Fourteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Brinker International has an average rating of "Hold" and a consensus target price of $140.18.

Brinker International Company Profile

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.