PDT Partners LLC Sells 29,200 Shares of Brinker International, Inc. (NYSE:EAT)

PDT Partners LLC cut its stake in Brinker International, Inc. (NYSE:EAT - Free Report) by 52.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,865 shares of the restaurant operator's stock after selling 29,200 shares during the period. PDT Partners LLC owned approximately 0.06% of Brinker International worth $2,056,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in EAT. Price T Rowe Associates Inc. MD increased its holdings in Brinker International by 5.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 33,253 shares of the restaurant operator's stock valued at $1,653,000 after buying an additional 1,588 shares in the last quarter. Comerica Bank increased its stake in shares of Brinker International by 26.5% during the 1st quarter. Comerica Bank now owns 31,284 shares of the restaurant operator's stock worth $1,554,000 after purchasing an additional 6,553 shares in the last quarter. Burney Co. grew its stake in Brinker International by 9.0% in the 1st quarter. Burney Co. now owns 8,690 shares of the restaurant operator's stock worth $432,000 after acquiring an additional 720 shares during the period. Cetera Advisors LLC purchased a new stake in Brinker International in the 1st quarter worth approximately $714,000. Finally, Harbor Capital Advisors Inc. grew its stake in Brinker International by 90.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 20,751 shares of the restaurant operator's stock worth $1,502,000 after acquiring an additional 9,854 shares during the period.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. BMO Capital Markets lowered shares of Brinker International from an "outperform" rating to a "market perform" rating and lifted their target price for the company from $80.00 to $105.00 in a report on Thursday, October 31st. JPMorgan Chase & Co. downgraded shares of Brinker International from an "overweight" rating to a "neutral" rating and lifted their price target for the stock from $67.00 to $100.00 in a research note on Thursday, October 31st. Wells Fargo & Company lifted their price target on shares of Brinker International from $85.00 to $95.00 and gave the stock an "underweight" rating in a research note on Thursday, October 31st. Argus downgraded shares of Brinker International from a "buy" rating to a "hold" rating in a research note on Tuesday, October 1st. Finally, KeyCorp lifted their price target on shares of Brinker International from $100.00 to $115.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Two 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $86.45.

Brinker International Price Performance

Shares of NYSE:EAT traded up $1.58 during trading on Friday, reaching $132.27. The company had a trading volume of 558,837 shares, compared to its average volume of 1,244,287. The firm's fifty day moving average is $100.93 and its 200 day moving average is $79.72. The firm has a market capitalization of $5.88 billion, a PE ratio of 32.26, a price-to-earnings-growth ratio of 1.46 and a beta of 2.46. Brinker International, Inc. has a twelve month low of $35.60 and a twelve month high of $133.82. The company has a debt-to-equity ratio of 63.54, a quick ratio of 0.26 and a current ratio of 0.32.

Brinker International (NYSE:EAT - Get Free Report) last released its earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 EPS for the quarter, beating 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 analyst estimates of $1.10 billion. During the same period in the prior year, the business earned $0.28 earnings per share. The business's quarterly revenue was up 12.5% on a year-over-year basis. On average, equities analysts forecast that Brinker International, Inc. will post 5.52 EPS for the current year.

Insider Activity

In other Brinker International news, CFO Michaela M. Ware sold 3,753 shares of the company's stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $103.02, for a total value of $386,634.06. Following the transaction, the chief financial officer now owns 23,071 shares in the company, valued at approximately $2,376,774.42. This represents a 13.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.72% of the stock is owned by company insiders.

Brinker International Company 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.