Transcendent Capital Group LLC Buys Shares of 22,855 Brinker International, Inc. (NYSE:EAT)

Transcendent Capital Group LLC bought a new stake in Brinker International, Inc. (NYSE:EAT - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 22,855 shares of the restaurant operator's stock, valued at approximately $1,749,000. Transcendent Capital Group LLC owned approximately 0.05% of Brinker International at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CWM LLC raised its stake in shares of Brinker International by 96.2% in the second quarter. CWM LLC now owns 416 shares of the restaurant operator's stock valued at $30,000 after acquiring an additional 204 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Brinker International in the 1st quarter valued at about $47,000. Covestor Ltd grew its position in shares of Brinker International by 32,500.0% during the first quarter. Covestor Ltd now owns 1,304 shares of the restaurant operator's stock worth $65,000 after buying an additional 1,300 shares in the last quarter. Signaturefd LLC increased its stake in shares of Brinker International by 33.2% during the second quarter. Signaturefd LLC now owns 986 shares of the restaurant operator's stock worth $71,000 after buying an additional 246 shares during the period. Finally, Quest Partners LLC increased its stake in shares of Brinker International by 1,265.2% during the second quarter. Quest Partners LLC now owns 1,884 shares of the restaurant operator's stock worth $136,000 after buying an additional 1,746 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have commented on EAT. BMO Capital Markets cut shares of Brinker International from an "outperform" rating to a "market perform" rating and boosted their price target for the stock from $80.00 to $105.00 in a report on Thursday, October 31st. Barclays raised their price target on Brinker International from $76.00 to $95.00 and gave the company an "equal weight" rating in a research note on Thursday, October 31st. Morgan Stanley upped their price objective on Brinker International from $42.00 to $50.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 16th. UBS Group increased their price objective on Brinker International from $70.00 to $94.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. cut Brinker International from an "overweight" rating to a "neutral" rating and boosted their target price for the stock from $67.00 to $100.00 in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Brinker International presently has a consensus rating of "Hold" and an average target price of $86.45.

Brinker International Stock Performance

Shares of EAT traded up $4.18 during mid-day trading on Friday, hitting $114.88. 1,216,659 shares of the company's stock were exchanged, compared to its average volume of 1,486,088. The firm has a market capitalization of $5.10 billion, a P/E ratio of 28.02, a P/E/G ratio of 1.28 and a beta of 2.46. Brinker International, Inc. has a fifty-two week low of $33.24 and a fifty-two week high of $119.42. The business's 50 day moving average is $85.32 and its two-hundred day moving average is $72.64. The company has a current ratio of 0.32, a quick ratio of 0.26 and a debt-to-equity ratio of 63.54.

Brinker International (NYSE:EAT - Get Free Report) last announced its earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share for the quarter, beating 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 company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the business posted $0.28 EPS. The company's revenue was up 12.5% on a year-over-year basis. On average, equities analysts expect that Brinker International, Inc. will post 5.53 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Michaela M. Ware sold 3,753 shares of Brinker International stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $103.02, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.72% of the stock is currently owned by corporate insiders.

About Brinker International

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.