State of New Jersey Common Pension Fund D Trims Position in Brinker International, Inc. (NYSE:EAT)

State of New Jersey Common Pension Fund D lessened its position in shares of Brinker International, Inc. (NYSE:EAT) by 36.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,827 shares of the restaurant operator’s stock after selling 10,036 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Brinker International were worth $2,358,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wolff Wiese Magana LLC increased its position in Brinker International by 100.0% during the fourth quarter. Wolff Wiese Magana LLC now owns 200 shares of the restaurant operator’s stock valued at $26,000 after acquiring an additional 100 shares during the last quarter. GAMMA Investing LLC increased its position in Brinker International by 123.9% during the fourth quarter. GAMMA Investing LLC now owns 309 shares of the restaurant operator’s stock valued at $41,000 after acquiring an additional 171 shares during the last quarter. R Squared Ltd purchased a new stake in Brinker International during the fourth quarter valued at $83,000. Longboard Asset Management LP purchased a new stake in Brinker International during the fourth quarter valued at $219,000. Finally, Advisory Resource Group purchased a new stake in Brinker International during the fourth quarter valued at $221,000.

Brinker International Price Performance

Shares of Brinker International stock opened at $153.78 on Friday. The stock has a 50 day moving average of $150.57 and a 200 day moving average of $112.23. Brinker International, Inc. has a 12 month low of $43.37 and a 12 month high of $192.21. The firm has a market cap of $6.83 billion, a PE ratio of 26.65, a PEG ratio of 0.54 and a beta of 2.54. The company has a current ratio of 0.33, a quick ratio of 0.27 and a debt-to-equity ratio of 4.96.

Brinker International (NYSE:EAT) last announced its quarterly earnings results on Wednesday, January 29th. The restaurant operator reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $1.43. Brinker International had a return on equity of 879.47% and a net margin of 5.45%. On average, research analysts expect that Brinker International, Inc. will post 8.3 EPS for the current fiscal year.

Insider Activity at Brinker International

In other news, COO Douglas N. Comings sold 7,500 shares of the firm’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 completion of the sale, the chief operating officer now directly owns 34,252 shares of the company’s stock, valued at $6,435,950.80. This trade represents a 17.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Cindy L. Davis sold 5,802 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was 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. The trade was a 34.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,802 shares of company stock valued at $3,752,464. Insiders own 1.72% of the company’s stock.

Analysts Set New Price Targets

EAT has been the subject of a number of research reports. StockNews.com upgraded Brinker International from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their price target on Brinker International from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Barclays upped their price target on Brinker International from $150.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Argus upgraded Brinker International from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research report on Tuesday, December 24th. Finally, Wells Fargo & Company upped their price target on Brinker International from $145.00 to $175.00 and gave the stock an “equal weight” rating in a research 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.com, the company presently has an average rating of “Hold” and a consensus price target of $140.18.

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.