Swiss National Bank Reduces Stock Position in Brinker International, Inc. (NYSE:EAT)

Swiss National Bank reduced its holdings in shares of Brinker International, Inc. (NYSE:EAT) by 2.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 86,100 shares of the restaurant operator’s stock after selling 2,000 shares during the quarter. Swiss National Bank’s holdings in Brinker International were worth $12,833,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Maxi Investments CY Ltd purchased a new stake in shares of Brinker International during the 1st quarter valued at approximately $2,519,000. Thoroughbred Financial Services LLC boosted its position in shares of Brinker International by 62.7% in the first quarter. Thoroughbred Financial Services LLC now owns 3,297 shares of the restaurant operator’s stock valued at $491,000 after acquiring an additional 1,271 shares during the period. Westfield Capital Management Co. LP boosted its position in shares of Brinker International by 102.0% in the first quarter. Westfield Capital Management Co. LP now owns 995,713 shares of the restaurant operator’s stock valued at $148,411,000 after acquiring an additional 502,897 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Brinker International by 5.7% in the first quarter. PNC Financial Services Group Inc. now owns 7,571 shares of the restaurant operator’s stock valued at $1,128,000 after acquiring an additional 407 shares during the period. Finally, Natixis Advisors LLC bought a new position in shares of Brinker International in the first quarter valued at approximately $1,563,000.

Insider Buying and Selling

In other Brinker International news, Director Joseph Michael Depinto sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $170.36, for a total value of $1,703,600.00. Following the completion of the sale, the director owned 99,297 shares in the company, valued at approximately $16,916,236.92. This trade represents a 9.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.72% of the stock is owned by company insiders.

Brinker International Price Performance

Shares of Brinker International stock opened at $157.83 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.31 and a quick ratio of 0.23. The business’s 50 day simple moving average is $168.26 and its two-hundred day simple moving average is $158.40. The stock has a market capitalization of $7.02 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 0.36 and a beta of 1.68. Brinker International, Inc. has a one year low of $65.26 and a one year high of $192.21.

Brinker International (NYSE:EAT) last announced its quarterly earnings results on Wednesday, August 13th. The restaurant operator reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.02. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Brinker International had a return on equity of 211.86% and a net margin of 7.12%. The business’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.61 EPS. Analysts forecast that Brinker International, Inc. will post 8.3 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on EAT shares. Evercore ISI raised their price objective on shares of Brinker International from $180.00 to $190.00 and gave the company an “in-line” rating in a research report on Thursday. Morgan Stanley raised their price objective on shares of Brinker International from $149.00 to $161.00 and gave the company an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on shares of Brinker International from $160.00 to $180.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 25th. Barclays boosted their price target on shares of Brinker International from $166.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Bank of America boosted their price target on shares of Brinker International from $186.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $171.41.

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.