Ritholtz Wealth Management Raises Stock Position in Brinker International, Inc. (NYSE:EAT)

Ritholtz Wealth Management lifted its stake in Brinker International, Inc. (NYSE:EAT - Free Report) by 64.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,583 shares of the restaurant operator's stock after purchasing an additional 5,325 shares during the period. Ritholtz Wealth Management's holdings in Brinker International were worth $1,797,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in EAT. Principal Financial Group Inc. grew its stake in Brinker International by 23.5% in the 3rd quarter. Principal Financial Group Inc. now owns 272,822 shares of the restaurant operator's stock worth $20,879,000 after acquiring an additional 51,927 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Brinker International in the third quarter valued at approximately $5,330,000. Intech Investment Management LLC grew its stake in Brinker International by 399.9% in the third quarter. Intech Investment Management LLC now owns 24,102 shares of the restaurant operator's stock worth $1,845,000 after purchasing an additional 19,281 shares in the last quarter. Qsemble Capital Management LP purchased a new position in Brinker International during the 3rd quarter worth $941,000. Finally, Janney Montgomery Scott LLC bought a new stake in Brinker International during the 3rd quarter valued at $2,273,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on EAT shares. Raymond James downgraded Brinker International from an "outperform" rating to a "market perform" rating in a research report on Thursday, October 17th. Argus raised shares of Brinker International from a "hold" rating to a "buy" rating and set a $150.00 price objective for the company in a research note on Tuesday, December 24th. Evercore ISI increased their target price on Brinker International from $69.00 to $90.00 and gave the company an "in-line" rating in a research report on Tuesday, October 15th. Bank of America boosted their price target on Brinker International from $97.00 to $110.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group assumed coverage on Brinker International in a research report on Thursday, December 5th. They set a "buy" rating and a $150.00 price objective on the stock. Fifteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $108.29.

Brinker International Stock Performance

NYSE:EAT traded up $0.63 during mid-day trading on Friday, hitting $144.17. The company's stock had a trading volume of 717,567 shares, compared to its average volume of 848,342. The business's fifty day moving average is $131.34 and its two-hundred day moving average is $95.78. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of 35.16, a PEG ratio of 1.43 and a beta of 2.52. 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 1 year low of $38.13 and a 1 year high of $147.65.

Brinker International (NYSE:EAT - Get Free Report) last posted its 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 negative return on equity of 839.19% and a net margin of 4.11%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the company earned $0.28 earnings per share. Brinker International's revenue for the quarter was up 12.5% compared to the same quarter last year. Analysts anticipate that Brinker International, Inc. will post 5.91 EPS for the current fiscal year.

Insider Activity

In other news, CFO Michaela M. Ware sold 3,753 shares of the firm's stock in a transaction dated 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 $2,376,774.42. This trade represents a 13.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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.