Sequoia Financial Advisors LLC Takes Position in Brinker International, Inc. (NYSE:EAT)

Sequoia Financial Advisors LLC bought a new stake in shares of Brinker International, Inc. (NYSE:EAT) in the 1st quarter, HoldingsChannel reports. The fund bought 1,381 shares of the restaurant operator’s stock, valued at approximately $206,000.

Several other large investors have also recently made changes to their positions in the business. Archford Capital Strategies LLC purchased a new stake in shares of Brinker International during the 1st quarter valued at $688,000. Continuum Advisory LLC increased its position in shares of Brinker International by 1,714.3% during the 1st quarter. Continuum Advisory LLC now owns 254 shares of the restaurant operator’s stock valued at $38,000 after purchasing an additional 240 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of Brinker International by 8,187.9% during the 1st quarter. Avior Wealth Management LLC now owns 2,735 shares of the restaurant operator’s stock valued at $408,000 after purchasing an additional 2,702 shares during the last quarter. Ritholtz Wealth Management increased its position in shares of Brinker International by 46.8% during the 1st quarter. Ritholtz Wealth Management now owns 19,942 shares of the restaurant operator’s stock valued at $2,972,000 after purchasing an additional 6,359 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Brinker International by 12.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,267 shares of the restaurant operator’s stock valued at $934,000 after purchasing an additional 713 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EAT. Stifel Nicolaus raised their target price on Brinker International from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, June 23rd. Barclays decreased their price objective on Brinker International from $165.00 to $155.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. Citigroup decreased their price objective on Brinker International from $185.00 to $170.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Wells Fargo & Company decreased their price objective on Brinker International from $165.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Brinker International from $160.00 to $180.00 and gave the stock a “neutral” rating in a report on Wednesday, June 25th. Thirteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $144.75.

Brinker International Stock Up 0.4%

Shares of NYSE EAT opened at $182.40 on Friday. Brinker International, Inc. has a 52 week low of $56.27 and a 52 week high of $192.22. The business has a 50-day simple moving average of $162.51 and a two-hundred day simple moving average of $154.19. The company has a quick ratio of 0.23, a current ratio of 0.28 and a debt-to-equity ratio of 2.00. The company has a market cap of $8.11 billion, a P/E ratio of 25.16, a P/E/G 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 EPS for the quarter, topping the consensus estimate of $2.48 by $0.18. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.38 billion. Brinker International had a return on equity of 333.03% and a net margin of 6.50%. The firm’s revenue was up 27.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 EPS. Research analysts anticipate that Brinker International, Inc. will post 8.3 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Douglas N. Comings sold 2,350 shares of Brinker International stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $135.91, for a total transaction of $319,388.50. Following the completion of the sale, the chief operating officer owned 20,591 shares in the company, valued at approximately $2,798,522.81. This trade represents a 10.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ramona Hood sold 777 shares of Brinker International stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $135.23, for a total value of $105,073.71. Following the sale, the director owned 8,568 shares of the company’s stock, valued at approximately $1,158,650.64. This trade represents a 8.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,127 shares of company stock worth $2,128,062. 1.72% of the stock is currently owned by 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.