New York State Teachers Retirement System Cuts Stake in Brinker International, Inc. (NYSE:EAT)

New York State Teachers Retirement System reduced its holdings in shares of Brinker International, Inc. (NYSE:EAT) by 6.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,683 shares of the restaurant operator’s stock after selling 4,200 shares during the period. New York State Teachers Retirement System’s holdings in Brinker International were worth $9,492,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Range Financial Group LLC purchased a new stake in Brinker International during the 1st quarter worth approximately $1,036,000. PNC Financial Services Group Inc. increased its stake in Brinker International by 93.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,164 shares of the restaurant operator’s stock worth $948,000 after buying an additional 3,470 shares during the period. Two Sigma Advisers LP purchased a new stake in Brinker International during the 4th quarter worth approximately $1,336,000. FORA Capital LLC purchased a new stake in Brinker International during the 4th quarter worth approximately $802,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Brinker International by 22.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 123,349 shares of the restaurant operator’s stock worth $16,318,000 after buying an additional 22,535 shares during the period.

Insider Activity

In related news, Director Ramona Hood sold 777 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $135.23, for a total value of $105,073.71. Following the completion of the sale, the director owned 8,568 shares in the company, valued at $1,158,650.64. This represents a 8.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Michael Depinto sold 10,000 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $170.36, for a total transaction of $1,703,600.00. Following the completion of the sale, the director owned 99,297 shares of the company’s stock, valued at approximately $16,916,236.92. This trade represents a 9.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,127 shares of company stock worth $2,128,062. Corporate insiders own 1.72% of the company’s stock.

Analyst Upgrades and Downgrades

EAT has been the topic of several recent research reports. Citigroup cut their target price on shares of Brinker International from $185.00 to $170.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company lowered their price target on shares of Brinker International from $165.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. Barclays lowered their price target on shares of Brinker International from $165.00 to $155.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. Stifel Nicolaus boosted their price target on shares of Brinker International from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, June 23rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Brinker International from $160.00 to $180.00 and gave the stock a “neutral” rating in a report on Wednesday, June 25th. Thirteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Brinker International presently has an average rating of “Hold” and an average target price of $144.75.

Brinker International Trading Up 0.4%

Shares of Brinker International stock opened at $182.40 on Friday. The company has a fifty day simple moving average of $162.51 and a 200-day simple moving average of $154.19. Brinker International, Inc. has a 12-month low of $56.27 and a 12-month high of $192.22. The company has a current ratio of 0.28, a quick ratio of 0.23 and a debt-to-equity ratio of 2.00. The stock has a market cap of $8.11 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 0.47 and a beta of 1.70.

Brinker International (NYSE:EAT) last issued its earnings results on Tuesday, April 29th. The restaurant operator reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.18. Brinker International had a net margin of 6.50% and a return on equity of 333.03%. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the business posted $1.24 EPS. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, equities analysts forecast that Brinker International, Inc. will post 8.3 EPS for the current fiscal year.

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.