State of New Jersey Common Pension Fund D Cuts Stock Position in Brinker International, Inc. (NYSE:EAT)

State of New Jersey Common Pension Fund D cut its position in Brinker International, Inc. (NYSE:EAT - Free Report) by 36.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,827 shares of the restaurant operator's stock after selling 10,036 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Brinker International were worth $2,358,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in EAT. Hennessy Advisors Inc. bought a new position in Brinker International in the 4th quarter valued at $81,888,000. Assenagon Asset Management S.A. grew its stake in Brinker International by 2,612.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 588,594 shares of the restaurant operator's stock worth $77,865,000 after buying an additional 566,894 shares in the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Brinker International by 1,145.2% during the 4th quarter. Wedge Capital Management L L P NC now owns 416,044 shares of the restaurant operator's stock worth $55,038,000 after acquiring an additional 382,633 shares during the last quarter. Wellington Management Group LLP increased its stake in Brinker International by 55.1% in the third quarter. Wellington Management Group LLP now owns 618,728 shares of the restaurant operator's stock valued at $47,351,000 after acquiring an additional 219,836 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Brinker International during the third quarter worth about $14,611,000.

Brinker International Price Performance

Shares of NYSE EAT traded down $8.79 during midday trading on Friday, reaching $144.74. The stock had a trading volume of 2,017,667 shares, compared to its average volume of 1,416,109. The stock has a 50-day moving average of $150.57 and a 200-day moving average of $112.23. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 25.08, a price-to-earnings-growth ratio of 0.52 and a beta of 2.54. Brinker International, Inc. has a 12-month low of $43.37 and a 12-month high of $192.21. The company has a debt-to-equity ratio of 4.96, a quick ratio of 0.27 and a current ratio of 0.33.

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

Analysts Set New Price Targets

EAT has been the subject of a number of recent research reports. StockNews.com upgraded shares of Brinker International from a "hold" rating to a "buy" rating in a report on Friday, January 31st. Bank Of America (Bofa) lifted their price target on Brinker International from $94.00 to $97.00 in a research note on Tuesday, October 29th. Barclays increased their price objective on Brinker International from $150.00 to $190.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. Piper Sandler raised their price target on shares of Brinker International from $62.00 to $97.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. Finally, Citigroup boosted their price target on Brinker International from $166.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $140.18.

Insiders Place Their Bets

In other news, COO Douglas N. Comings sold 7,500 shares of the stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Cindy L. Davis sold 5,802 shares of the business's stock in a transaction on 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 transaction, the director now owns 11,107 shares of the company's stock, valued at approximately $2,086,561.02. The trade was a 34.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,802 shares of company stock valued at $3,752,464 over the last three months. 1.72% of the stock is owned by company insiders.

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.