Jennison Associates LLC Makes New $705,000 Investment in Brinker International, Inc. (NYSE:EAT)

Jennison Associates LLC purchased a new stake in Brinker International, Inc. (NYSE:EAT - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 9,213 shares of the restaurant operator's stock, valued at approximately $705,000.

Several other institutional investors also recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its stake in Brinker International by 5.4% during the first quarter. Russell Investments Group Ltd. now owns 20,640 shares of the restaurant operator's stock worth $1,025,000 after acquiring an additional 1,049 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Brinker International by 29.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,240 shares of the restaurant operator's stock valued at $807,000 after buying an additional 3,710 shares during the period. Vanguard Group Inc. lifted its position in Brinker International by 2.5% during the first quarter. Vanguard Group Inc. now owns 5,535,500 shares of the restaurant operator's stock valued at $275,004,000 after buying an additional 135,580 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in Brinker International during the first quarter worth approximately $226,000. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of Brinker International by 6.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 38,127 shares of the restaurant operator's stock worth $1,893,000 after acquiring an additional 2,341 shares in the last quarter.

Brinker International Stock Up 1.5 %

Brinker International stock traded up $1.91 during mid-day trading on Friday, hitting $125.62. The company's stock had a trading volume of 1,338,370 shares, compared to its average volume of 1,582,588. 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, Inc. has a 52-week low of $34.77 and a 52-week high of $126.29. The firm's 50 day moving average is $95.35 and its 200 day moving average is $77.36. The company has a market cap of $5.58 billion, a PE ratio of 30.64, a price-to-earnings-growth ratio of 1.37 and a beta of 2.46.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on EAT shares. UBS Group raised their price objective on Brinker International from $70.00 to $94.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Wedbush reiterated a "neutral" rating and issued a $68.00 price objective on shares of Brinker International in a report on Thursday, August 15th. Stifel Nicolaus lifted their target price on Brinker International from $110.00 to $120.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. BMO Capital Markets lowered Brinker International from an "outperform" rating to a "market perform" rating and raised their price objective for the company from $80.00 to $105.00 in a research note on Thursday, October 31st. Finally, Argus cut Brinker International from a "buy" rating to a "hold" rating in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $86.45.

Insider Transactions at Brinker International

In related news, CFO Michaela M. Ware sold 3,753 shares of the business's stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $103.02, for a total value 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. The trade was a 13.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.72% of the stock is currently owned by company insiders.

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.