Verition Fund Management LLC Sells 208,910 Shares of Brinker International, Inc. (NYSE:EAT)

Verition Fund Management LLC reduced its position in Brinker International, Inc. (NYSE:EAT - Free Report) by 74.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 71,615 shares of the restaurant operator's stock after selling 208,910 shares during the period. Verition Fund Management LLC owned 0.16% of Brinker International worth $5,481,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Cetera Advisors LLC acquired a new position in shares of Brinker International in the first quarter valued at approximately $714,000. Empowered Funds LLC acquired a new position in Brinker International in the 3rd quarter valued at about $5,330,000. Intech Investment Management LLC grew its position in shares of Brinker International by 399.9% in the third quarter. Intech Investment Management LLC now owns 24,102 shares of the restaurant operator's stock valued at $1,845,000 after purchasing an additional 19,281 shares during the period. Qsemble Capital Management LP acquired a new stake in shares of Brinker International in the third quarter worth approximately $941,000. Finally, Principal Financial Group Inc. increased its position in Brinker International by 23.5% during the third quarter. Principal Financial Group Inc. now owns 272,822 shares of the restaurant operator's stock worth $20,879,000 after purchasing an additional 51,927 shares during the last quarter.

Insider Activity

In other Brinker International news, CFO Michaela M. Ware sold 3,753 shares of the 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 completion of the sale, the chief financial officer now owns 23,071 shares in the company, valued at approximately $2,376,774.42. This trade represents a 13.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.72% of the company's stock.

Brinker International Stock Down 0.8 %

NYSE EAT traded down $1.10 on Tuesday, reaching $129.11. The company had a trading volume of 841,550 shares, compared to its average volume of 1,179,872. The company has a quick ratio of 0.26, a current ratio of 0.32 and a debt-to-equity ratio of 63.54. The company's fifty day moving average is $101.98 and its 200 day moving average is $80.32. Brinker International, Inc. has a 52-week low of $37.25 and a 52-week high of $133.82. The stock has a market capitalization of $5.74 billion, a P/E ratio of 31.49, a P/E/G ratio of 1.44 and a beta of 2.51.

Brinker International (NYSE:EAT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.26. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.10 billion. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%. The business's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 EPS. Sell-side analysts anticipate that Brinker International, Inc. will post 5.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Barclays increased their target price 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. Evercore ISI lifted their target price on Brinker International from $69.00 to $90.00 and gave the stock an "in-line" rating in a research report on Tuesday, October 15th. Argus downgraded shares of Brinker International from a "buy" rating to a "hold" rating in a report on Tuesday, October 1st. Piper Sandler lifted their price target on shares of Brinker International from $62.00 to $97.00 and gave the company a "neutral" rating in a report on Monday, November 4th. Finally, Wells Fargo & Company lifted their target price on Brinker International from $85.00 to $95.00 and gave the company an "underweight" rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $86.45.

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.