Brinker International, Inc. (NYSE:EAT) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its holdings in Brinker International, Inc. (NYSE:EAT - Free Report) by 92.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 47,950 shares of the restaurant operator's stock after selling 570,778 shares during the quarter. Wellington Management Group LLP owned about 0.11% of Brinker International worth $6,343,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EAT. Geode Capital Management LLC raised its position in shares of Brinker International by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 998,278 shares of the restaurant operator's stock valued at $76,413,000 after purchasing an additional 8,105 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in Brinker International during the 4th quarter valued at approximately $81,888,000. Assenagon Asset Management S.A. raised its holdings in shares of Brinker International by 2,612.4% in the fourth 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 during the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of 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 worth $55,038,000 after buying an additional 382,633 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Brinker International by 5.4% during the fourth quarter. Principal Financial Group Inc. now owns 287,456 shares of the restaurant operator's stock worth $38,028,000 after buying an additional 14,634 shares during the period.

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Brinker International Price Performance

Shares of NYSE:EAT traded up $3.83 during midday trading on Tuesday, reaching $151.47. 968,356 shares of the company's stock traded hands, compared to its average volume of 1,454,373. The company has a fifty day simple moving average of $150.37 and a two-hundred day simple moving average of $133.26. Brinker International, Inc. has a 1 year low of $43.37 and a 1 year high of $192.22. The company has a market cap of $6.73 billion, a P/E ratio of 26.25, a PEG ratio of 0.49 and a beta of 2.21. 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 quarterly earnings data 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 net margin of 5.45% and a return on equity of 879.47%. Equities analysts predict that Brinker International, Inc. will post 8.3 EPS for the current fiscal year.

Analysts Set New Price Targets

EAT has been the topic of several research reports. Northcoast Research upgraded Brinker International from a "neutral" rating to a "buy" rating and set a $215.00 target price for the company in a research note on Thursday, January 30th. UBS Group raised their price objective on Brinker International from $108.00 to $146.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. upped their target price on Brinker International from $140.00 to $160.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. Morgan Stanley raised shares of 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. Finally, Wedbush upped their price objective on shares of Brinker International from $140.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $139.39.

Insiders Place Their Bets

In other Brinker International news, 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 value of $1,089,963.72. Following the completion of the sale, the director now owns 11,107 shares in the company, valued at approximately $2,086,561.02. This represents a 34.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Douglas N. Comings sold 7,500 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $187.90, for a total value of $1,409,250.00. Following the transaction, the chief operating officer now owns 34,252 shares in the company, valued at approximately $6,435,950.80. This represents a 17.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,802 shares of company stock worth $3,752,464. Corporate insiders own 1.72% of the company's stock.

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.