Fisher Asset Management LLC Purchases 28,373 Shares of Brinker International, Inc. (NYSE:EAT)

Fisher Asset Management LLC raised its stake in Brinker International, Inc. (NYSE:EAT - Free Report) by 4.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 691,230 shares of the restaurant operator's stock after acquiring an additional 28,373 shares during the quarter. Fisher Asset Management LLC owned approximately 1.56% of Brinker International worth $52,900,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Algert Global LLC increased its holdings in Brinker International by 252.4% in the third quarter. Algert Global LLC now owns 15,693 shares of the restaurant operator's stock valued at $1,201,000 after buying an additional 11,240 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Brinker International by 21.0% during the 3rd quarter. Cerity Partners LLC now owns 7,600 shares of the restaurant operator's stock worth $582,000 after buying an additional 1,317 shares during the period. Citigroup Inc. lifted its holdings in Brinker International by 74.4% during the third quarter. Citigroup Inc. now owns 56,324 shares of the restaurant operator's stock valued at $4,310,000 after purchasing an additional 24,028 shares in the last quarter. Intech Investment Management LLC grew its position 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 during the period. Finally, Jennison Associates LLC purchased a new stake in shares of Brinker International during the third quarter worth about $705,000.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. BMO Capital Markets lowered shares of Brinker International from an "outperform" rating to a "market perform" rating and lifted their price target for the company from $80.00 to $105.00 in a research report on Thursday, October 31st. JPMorgan Chase & Co. downgraded Brinker International from an "overweight" rating to a "neutral" rating and upped their price target for the stock from $67.00 to $100.00 in a report on Thursday, October 31st. UBS Group increased their price objective on Brinker International from $70.00 to $94.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Bank of America raised their price objective on Brinker International from $97.00 to $110.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus increased their price objective on Brinker International from $110.00 to $120.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Brinker International currently has an average rating of "Hold" and a consensus price target of $86.45.

Brinker International Price Performance

Shares of NYSE EAT traded up $1.02 during mid-day trading on Wednesday, reaching $131.61. 290,379 shares of the company traded hands, compared to its average volume of 1,440,584. Brinker International, Inc. has a fifty-two week low of $34.77 and a fifty-two week high of $132.08. The firm has a market cap of $5.85 billion, a PE ratio of 31.79, a price-to-earnings-growth ratio of 1.45 and a beta of 2.46. The stock has a fifty day simple moving average of $97.63 and a 200-day simple moving average of $78.38. The company has a debt-to-equity ratio of 63.54, a current ratio of 0.32 and a quick ratio of 0.26.

Brinker International (NYSE:EAT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.26. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.10 billion. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%. The firm's revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the firm earned $0.28 EPS. Equities research analysts anticipate that Brinker International, Inc. will post 5.52 EPS for the current fiscal year.

Insider Activity

In related news, CFO Michaela M. Ware sold 3,753 shares of Brinker International stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $103.02, for a total transaction of $386,634.06. Following the completion of the sale, the chief financial officer now owns 23,071 shares of the company's stock, valued at approximately $2,376,774.42. This trade represents a 13.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.72% of the company's stock.

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.