Primecap Management Co. CA Sells 6,500 Shares of Brinker International, Inc. (NYSE:EAT)

Primecap Management Co. CA decreased its stake in Brinker International, Inc. (NYSE:EAT - Free Report) by 15.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,800 shares of the restaurant operator's stock after selling 6,500 shares during the period. Primecap Management Co. CA owned approximately 0.08% of Brinker International worth $2,663,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Transcendent Capital Group LLC bought a new position in shares of Brinker International during the 1st quarter worth about $25,000. CWM LLC boosted its holdings in Brinker International by 96.2% during the second quarter. CWM LLC now owns 416 shares of the restaurant operator's stock valued at $30,000 after purchasing an additional 204 shares in the last quarter. Signaturefd LLC grew its position in Brinker International by 33.2% in the second quarter. Signaturefd LLC now owns 986 shares of the restaurant operator's stock valued at $71,000 after acquiring an additional 246 shares during the period. Quest Partners LLC raised its stake in Brinker International by 1,265.2% during the second quarter. Quest Partners LLC now owns 1,884 shares of the restaurant operator's stock worth $136,000 after acquiring an additional 1,746 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Brinker International by 1,111.8% in the 2nd quarter. Fifth Third Bancorp now owns 2,266 shares of the restaurant operator's stock valued at $164,000 after purchasing an additional 2,079 shares during the last quarter.

Analysts Set New Price Targets

EAT has been the topic of several recent research reports. Citigroup raised their price target on Brinker International from $83.00 to $110.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. KeyCorp lifted their price objective 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. JPMorgan Chase & Co. downgraded shares of Brinker International from an "overweight" rating to a "neutral" rating and upped their target price for the company from $67.00 to $100.00 in a research note on Thursday, October 31st. Evercore ISI boosted their price objective on shares of Brinker International from $69.00 to $90.00 and gave the company an "in-line" rating in a research report on Tuesday, October 15th. Finally, UBS Group boosted their price target on shares of Brinker International from $70.00 to $94.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $86.45.

Brinker International Trading Up 1.5 %

Shares of NYSE:EAT traded up $1.91 during midday trading on Friday, reaching $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 firm has a 50 day moving average price of $95.35 and a two-hundred day moving average price of $77.09. Brinker International, Inc. has a fifty-two week low of $34.77 and a fifty-two week high of $126.29. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 30.64, a PEG ratio of 1.37 and a beta of 2.46. 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 posted its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.26. The firm 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 company's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 EPS. As a group, analysts forecast that Brinker International, Inc. will post 5.52 earnings per share for the current year.

Insider Transactions at Brinker International

In other Brinker International news, CFO Michaela M. Ware sold 3,753 shares of the stock in a transaction dated Thursday, October 31st. The shares were 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 in the company, valued at approximately $2,376,774.42. This trade represents a 13.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, 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.