Summit Financial LLC Invests $309,000 in Brinker International, Inc. (NYSE:EAT)

Summit Financial LLC bought a new stake in Brinker International, Inc. (NYSE:EAT - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,333 shares of the restaurant operator's stock, valued at approximately $309,000.

A number of other hedge funds have also recently made changes to their positions in EAT. Cerity Partners LLC lifted its holdings in shares of Brinker International by 21.0% during the third quarter. Cerity Partners LLC now owns 7,600 shares of the restaurant operator's stock worth $582,000 after purchasing an additional 1,317 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Brinker International by 28.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,022 shares of the restaurant operator's stock worth $997,000 after purchasing an additional 2,883 shares during the last quarter. Paloma Partners Management Co acquired a new position in Brinker International during the 3rd quarter worth about $290,000. Centiva Capital LP grew its position in shares of Brinker International by 225.4% in the 3rd quarter. Centiva Capital LP now owns 16,643 shares of the restaurant operator's stock valued at $1,274,000 after buying an additional 11,529 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new stake in shares of Brinker International in the third quarter valued at about $429,000.

Insider Activity 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 stock was sold at an average price of $167.10, for a total transaction of $1,253,250.00. Following the sale, the chief operating officer now directly owns 26,752 shares in the company, valued at $4,470,259.20. The trade was a 21.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Cindy L. Davis sold 5,802 shares of the stock in a transaction dated 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 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 have sold 20,802 shares of company stock valued at $3,752,464 over the last ninety days. Corporate insiders own 1.72% of the company's stock.

Brinker International Stock Up 1.7 %

Shares of EAT traded up $2.35 during trading hours on Tuesday, reaching $138.99. The stock had a trading volume of 405,359 shares, compared to its average volume of 1,428,829. Brinker International, Inc. has a 12 month low of $43.37 and a 12 month high of $192.21. The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of 24.14, a P/E/G ratio of 0.49 and a beta of 2.21. The firm has a 50-day simple moving average of $155.86 and a 200 day simple moving average of $130.47. 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 (NYSE:EAT - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The restaurant operator reported $2.80 EPS for the quarter, topping 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%. Equities research analysts predict that Brinker International, Inc. will post 8.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

EAT has been the topic of several analyst reports. KeyCorp cut Brinker International from an "overweight" rating to a "sector weight" rating and set a $115.00 target price on the stock. in a report on Friday, January 24th. The Goldman Sachs Group upped their price objective on shares of Brinker International from $162.00 to $208.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Wells Fargo & Company lifted their target price on shares of Brinker International from $145.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 30th. Northcoast Research raised shares of Brinker International from a "neutral" rating to a "buy" rating and set a $215.00 price target on the stock in a research report on Thursday, January 30th. Finally, Stifel Nicolaus lifted their price objective on Brinker International from $155.00 to $170.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Brinker International currently has a consensus rating of "Hold" and a consensus price target of $140.18.

Brinker International Company 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.