Geode Capital Management LLC Trims Holdings in Brinker International, Inc. (NYSE:EAT)

Geode Capital Management LLC cut its holdings in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 995,199 shares of the restaurant operator's stock after selling 3,079 shares during the period. Geode Capital Management LLC owned 2.24% of Brinker International worth $131,686,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EAT. Summit Financial LLC acquired a new position in Brinker International during the 4th quarter valued at approximately $309,000. Alliancebernstein L.P. raised its stake in Brinker International by 8.1% in the 4th quarter. Alliancebernstein L.P. now owns 55,221 shares of the restaurant operator's stock worth $7,305,000 after acquiring an additional 4,119 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in Brinker International by 44.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 28,495 shares of the restaurant operator's stock worth $3,770,000 after acquiring an additional 8,796 shares during the period. New Age Alpha Advisors LLC purchased a new stake in Brinker International during the 4th quarter valued at about $7,235,000. Finally, Norges Bank acquired a new position in shares of Brinker International in the fourth quarter valued at about $21,549,000.

Analyst Upgrades and Downgrades

EAT has been the subject of a number of research reports. Wedbush lifted their target price on Brinker International from $140.00 to $185.00 and gave the stock a "neutral" rating in a report on Thursday, January 30th. Stifel Nicolaus upped their price objective 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. Citigroup cut their price objective on shares of Brinker International from $185.00 to $170.00 and set a "neutral" rating on the stock in a research note on Thursday. Northcoast Research raised shares of Brinker International from a "neutral" rating to a "buy" rating and set a $215.00 price target on the stock in a report on Thursday, January 30th. Finally, KeyCorp downgraded Brinker International from an "overweight" rating to a "sector weight" rating and set a $115.00 price target on the stock. in a research report on Friday, January 24th. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Brinker International has a consensus rating of "Hold" and a consensus target price of $139.39.

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Brinker International Price Performance

Shares of Brinker International stock traded up $1.22 during trading hours 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. The business has a fifty day moving average of $151.17 and a two-hundred day moving average of $132.36. The company has a market capitalization of $6.39 billion, a P/E ratio of 24.96, a price-to-earnings-growth ratio of 0.49 and a beta of 2.21. The company has a quick ratio of 0.27, a current ratio of 0.33 and a debt-to-equity ratio of 4.96. Brinker International, Inc. has a 1 year low of $43.37 and a 1 year high of $192.22.

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

Insider Buying and Selling

In other news, COO Douglas N. Comings sold 7,500 shares of the 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 owns 34,252 shares of the company's stock, valued at $6,435,950.80. This represents a 17.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Cindy L. Davis sold 5,802 shares of the firm's stock in a transaction that occurred 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 sale, the director now owns 11,107 shares of the company's stock, valued at $2,086,561.02. This represents a 34.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,802 shares of company stock worth $3,752,464. 1.72% of the stock is owned by corporate insiders.

Brinker International 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.