Corebridge Financial Inc. Cuts Position in Brinker International, Inc. (NYSE:EAT)

Corebridge Financial Inc. lessened its stake in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,479 shares of the restaurant operator's stock after selling 1,836 shares during the quarter. Corebridge Financial Inc. owned about 0.05% of Brinker International worth $3,106,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hennessy Advisors Inc. acquired a new stake in shares of Brinker International in the 4th quarter worth $81,888,000. Assenagon Asset Management S.A. lifted its position in 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 valued at $77,865,000 after purchasing an additional 566,894 shares during the period. Wedge Capital Management L L P NC lifted its position in 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 purchasing an additional 382,633 shares during the period. American Century Companies Inc. boosted its holdings in Brinker International by 4,710.3% in the 4th quarter. American Century Companies Inc. now owns 280,824 shares of the restaurant operator's stock valued at $37,150,000 after purchasing an additional 274,986 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Brinker International by 55.1% during the 3rd quarter. Wellington Management Group LLP now owns 618,728 shares of the restaurant operator's stock worth $47,351,000 after purchasing an additional 219,836 shares during the period.

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Insider Transactions at Brinker International

In other news, Director Cindy L. Davis sold 5,802 shares of the stock in a transaction dated 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 directly owns 11,107 shares in the company, valued at $2,086,561.02. This represents a 34.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Douglas N. Comings sold 7,500 shares of the business'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 transaction 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 approximately $6,435,950.80. The trade was a 17.96 % decrease in their ownership of the stock. 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 quarter. 1.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on EAT shares. Barclays lifted their price target on Brinker International from $150.00 to $190.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. BMO Capital Markets boosted their target price on shares of Brinker International from $105.00 to $125.00 and gave the stock a "market perform" rating in a research report on Monday, January 27th. JPMorgan Chase & Co. increased their price target on shares of Brinker International from $140.00 to $160.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. UBS Group boosted their price objective on shares of Brinker International from $108.00 to $146.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. Finally, Argus upgraded shares of Brinker International from a "hold" rating to a "buy" rating and set a $150.00 target price on the stock in a research report on Tuesday, December 24th. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $140.18.

Brinker International Price Performance

Brinker International stock traded down $3.83 during midday trading on Friday, reaching $134.87. 2,032,331 shares of the company were exchanged, compared to its average volume of 1,444,251. The firm's 50-day simple moving average is $156.17 and its 200-day simple moving average is $129.66. Brinker International, Inc. has a 1 year low of $43.37 and a 1 year high of $192.22. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 0.49 and a beta of 2.20. 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 (NYSE:EAT - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The restaurant operator reported $2.80 EPS for the quarter, topping 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%. On average, analysts anticipate that Brinker International, Inc. will post 8.3 EPS for the current year.

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.