Brinker International, Inc. (NYSE:EAT) Shares Sold by abrdn plc

abrdn plc trimmed its holdings in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 51.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,317 shares of the restaurant operator's stock after selling 158,427 shares during the period. abrdn plc owned 0.34% of Brinker International worth $19,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in EAT. Hennessy Advisors Inc. purchased a new position in Brinker International in the fourth quarter valued at approximately $81,888,000. Assenagon Asset Management S.A. boosted its holdings in shares of Brinker International by 2,612.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 588,594 shares of the restaurant operator's stock valued at $77,865,000 after buying an additional 566,894 shares in the last quarter. Wedge Capital Management L L P NC grew its position in shares of Brinker International by 1,145.2% in the 4th 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 buying an additional 382,633 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Brinker International by 55.1% in the 3rd quarter. Wellington Management Group LLP now owns 618,728 shares of the restaurant operator's stock valued at $47,351,000 after buying an additional 219,836 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Brinker International during the 3rd quarter worth $14,611,000.

Insider Buying and Selling

In other Brinker International news, COO Douglas N. Comings sold 7,500 shares of the business's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $187.90, for a total transaction of $1,409,250.00. Following the sale, the chief operating officer now directly owns 34,252 shares in the company, valued at approximately $6,435,950.80. The trade was a 17.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cindy L. Davis sold 5,802 shares of the company's 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 transaction, the director now directly owns 11,107 shares in the company, valued at approximately $2,086,561.02. This trade represents a 34.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.72% of the stock is currently owned by corporate insiders.

Brinker International Stock Performance

Shares of Brinker International stock traded down $4.41 on Monday, reaching $167.66. 2,126,072 shares of the stock were exchanged, compared to its average volume of 1,347,810. The firm has a market capitalization of $7.45 billion, a PE ratio of 29.06, a PEG ratio of 0.58 and a beta of 2.54. Brinker International, Inc. has a 1-year low of $42.99 and a 1-year high of $192.21. The business has a fifty day moving average price of $145.32 and a two-hundred day moving average price of $107.47. The company has a current ratio of 0.33, a quick ratio of 0.27 and a debt-to-equity ratio of 4.96.

Brinker International (NYSE:EAT - Get Free Report) last released its earnings results 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, research analysts anticipate that Brinker International, Inc. will post 8.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on EAT. Evercore ISI raised their price objective on Brinker International from $69.00 to $90.00 and gave the stock an "in-line" rating in a report on Tuesday, October 15th. 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 note on Thursday, January 30th. Bank Of America (Bofa) lifted their price target on Brinker International from $94.00 to $97.00 in a research report on Tuesday, October 29th. Citigroup increased their price objective on Brinker International from $166.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Finally, Northcoast Research raised shares of Brinker International from a "neutral" rating to a "buy" rating and set a $215.00 target price on the stock in a report on Thursday, January 30th. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Brinker International currently has a consensus rating of "Hold" and a consensus target price of $140.18.

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.