Summit Financial LLC Buys New Holdings in Brinker International, Inc. (NYSE:EAT)

Summit Financial LLC purchased a new stake in shares of Brinker International, Inc. (NYSE:EAT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,333 shares of the restaurant operator's stock, valued at approximately $309,000.

Other institutional investors have also bought and sold shares of the company. Hennessy Advisors Inc. purchased a new stake in shares of Brinker International during the 4th quarter valued at about $81,888,000. Assenagon Asset Management S.A. increased its stake in Brinker International by 2,612.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 588,594 shares of the restaurant operator's stock worth $77,865,000 after acquiring an additional 566,894 shares during the last quarter. Wedge Capital Management L L P NC raised its position in Brinker International by 1,145.2% during the fourth quarter. Wedge Capital Management L L P NC now owns 416,044 shares of the restaurant operator's stock valued at $55,038,000 after purchasing an additional 382,633 shares during the period. American Century Companies Inc. lifted its stake in shares of Brinker International by 4,710.3% in the 4th quarter. American Century Companies Inc. now owns 280,824 shares of the restaurant operator's stock valued at $37,150,000 after purchasing an additional 274,986 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Brinker International by 55.1% in the 3rd 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 during the period.

Remove Ads

Insider Transactions at Brinker International

In other news, COO Douglas N. Comings sold 7,500 shares of Brinker International stock in a transaction on Monday, February 10th. The shares were sold at an average price of $167.10, for a total transaction 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. The trade was a 21.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 transaction of $1,089,963.72. Following the sale, 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. Over the last 90 days, insiders have sold 20,802 shares of company stock worth $3,752,464. Insiders own 1.72% of the company's stock.

Brinker International Stock Up 1.5 %

Shares of NYSE:EAT traded up $1.98 on Monday, reaching $137.05. The company had a trading volume of 1,287,043 shares, compared to its average volume of 1,443,800. The firm has a market capitalization of $6.09 billion, a PE ratio of 23.85, a PEG ratio of 0.49 and a beta of 2.20. The company has a current ratio of 0.33, a quick ratio of 0.27 and a debt-to-equity ratio of 4.96. Brinker International, Inc. has a 52-week low of $43.37 and a 52-week high of $192.22. The firm's 50 day simple moving average is $156.17 and its 200-day simple moving average is $130.06.

Brinker International (NYSE:EAT - Get Free Report) last posted its earnings results on Wednesday, January 29th. The restaurant operator reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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, analysts expect that Brinker International, Inc. will post 8.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Morgan Stanley upgraded Brinker International from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $70.00 to $115.00 in a research report on Friday, December 20th. BMO Capital Markets raised their target price on shares of Brinker International from $105.00 to $125.00 and gave the stock a "market perform" rating in a report on Monday, January 27th. The Goldman Sachs Group lifted their price target on shares of Brinker International from $162.00 to $208.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their price objective on shares of Brinker International from $140.00 to $160.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Finally, KeyCorp lowered Brinker International from an "overweight" rating to a "sector weight" rating and set a $115.00 target price for the company. in a research report on Friday, January 24th. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $140.18.

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.