Renaissance Technologies LLC Decreases Stake in Brinker International, Inc. (NYSE:EAT)

Renaissance Technologies LLC trimmed its position in shares of Brinker International, Inc. (NYSE:EAT - Free Report) by 10.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 657,265 shares of the restaurant operator's stock after selling 75,535 shares during the period. Renaissance Technologies LLC owned about 1.48% of Brinker International worth $86,950,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of Brinker International by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 998,278 shares of the restaurant operator's stock valued at $76,413,000 after purchasing an additional 8,105 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in shares of Brinker International during the fourth quarter worth $81,888,000. Wellington Management Group LLP grew its stake in shares of Brinker International by 55.1% during the third quarter. Wellington Management Group LLP now owns 618,728 shares of the restaurant operator's stock worth $47,351,000 after purchasing an additional 219,836 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Brinker International by 2,612.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 588,594 shares of the restaurant operator's stock valued at $77,865,000 after buying an additional 566,894 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Brinker International by 14.6% in the fourth quarter. Invesco Ltd. now owns 489,723 shares of the restaurant operator's stock valued at $64,785,000 after buying an additional 62,265 shares in the last quarter.

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Analyst Ratings Changes

A number of research analysts have recently commented on EAT shares. Morgan Stanley upgraded Brinker International from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $70.00 to $115.00 in a report on Friday, December 20th. UBS Group lifted their price target on Brinker International from $108.00 to $146.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. Northcoast Research raised shares of Brinker International from a "neutral" rating to a "buy" rating and set a $215.00 target price for the company in a report on Thursday, January 30th. StockNews.com raised Brinker International from a "hold" rating to a "buy" rating in a report on Friday, January 31st. Finally, Wells Fargo & Company raised their price objective on shares of Brinker International from $145.00 to $175.00 and gave the company an "equal weight" rating in a research report on Thursday, January 30th. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $139.39.

Insider Buying and Selling

In related news, COO Douglas N. Comings sold 7,500 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $167.10, for a total value of $1,253,250.00. Following the completion of the sale, the chief operating officer now directly owns 26,752 shares in the company, valued at approximately $4,470,259.20. This represents a 21.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cindy L. Davis sold 5,802 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $187.86, for a total value of $1,089,963.72. Following the completion of the transaction, the director now directly owns 11,107 shares in the company, valued at $2,086,561.02. This trade represents a 34.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,802 shares of company stock valued at $3,752,464. 1.72% of the stock is currently owned by corporate insiders.

Brinker International Trading Up 0.9 %

EAT stock traded up $1.22 during midday trading on Friday, hitting $143.99. The stock had a trading volume of 1,277,148 shares, compared to its average volume of 1,457,793. The firm has a market cap of $6.39 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 0.49 and a beta of 2.21. The company has a debt-to-equity ratio of 4.96, a current ratio of 0.33 and a quick ratio of 0.27. Brinker International, Inc. has a 12-month low of $43.37 and a 12-month high of $192.22. The company's 50-day moving average price is $151.17 and its 200 day moving average price is $132.36.

Brinker International (NYSE:EAT - Get Free Report) last released its earnings results on Wednesday, January 29th. The restaurant operator reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $1.43. Brinker International had a net margin of 5.45% and a return on equity of 879.47%. On average, equities research analysts predict that Brinker International, Inc. will post 8.3 earnings per share for the current fiscal year.

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.