abrdn plc lessened its stake in Brinker International, Inc. (NYSE:EAT - Free Report) by 19.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 308,744 shares of the restaurant operator's stock after selling 75,449 shares during the period. abrdn plc owned about 0.69% of Brinker International worth $23,628,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. CWM LLC raised its stake in Brinker International by 96.2% during the second quarter. CWM LLC now owns 416 shares of the restaurant operator's stock worth $30,000 after buying an additional 204 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Brinker International in the 1st quarter valued at about $25,000. Headlands Technologies LLC acquired a new position in shares of Brinker International in the 1st quarter valued at about $47,000. Signaturefd LLC boosted its position in shares of Brinker International by 33.2% during the 2nd quarter. Signaturefd LLC now owns 986 shares of the restaurant operator's stock valued at $71,000 after purchasing an additional 246 shares in the last quarter. Finally, Hollencrest Capital Management acquired a new stake in Brinker International during the first quarter worth approximately $50,000.
Brinker International Stock Performance
Brinker International stock traded up $2.23 during midday trading on Friday, reaching $104.94. The stock had a trading volume of 1,846,232 shares, compared to its average volume of 1,457,531. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 63.54. The firm has a market capitalization of $4.70 billion, a PE ratio of 25.60, a P/E/G ratio of 1.71 and a beta of 2.51. Brinker International, Inc. has a 12 month low of $33.03 and a 12 month high of $107.15. The firm's 50-day moving average price is $81.21 and its 200 day moving average price is $69.98.
Brinker International (NYSE:EAT - Get Free Report) last posted 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 analyst estimates of $1.10 billion. Brinker International had a net margin of 4.11% and a negative return on equity of 839.19%. The company's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 earnings per share. As a group, research analysts predict that Brinker International, Inc. will post 4.78 earnings per share for the current fiscal year.
Analyst Ratings Changes
EAT has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on Brinker International from $85.00 to $95.00 and gave the stock an "underweight" rating in a report on Thursday. Bank of America increased their target price on shares of Brinker International from $97.00 to $110.00 and gave the stock a "neutral" rating in a research note on Thursday. Argus downgraded shares of Brinker International from a "buy" rating to a "hold" rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. downgraded Brinker International from an "overweight" rating to a "neutral" rating and boosted their price objective for the company from $67.00 to $100.00 in a report on Thursday. Finally, Citigroup increased their target price on Brinker International from $83.00 to $110.00 and gave the stock a "neutral" rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $84.19.
View Our Latest Research Report on Brinker International
Insider Transactions at Brinker International
In related news, CFO Michaela M. Ware sold 3,753 shares of the business's 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 sale, the chief financial officer now directly owns 23,071 shares in the company, valued at approximately $2,376,774.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.72% of the company's stock.
About Brinker International
(
Free Report)
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.
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