Norges Bank Buys Shares of 297,659 Brinker International, Inc. (NYSE:EAT)

Norges Bank purchased a new position in shares of Brinker International, Inc. (NYSE:EATFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 297,659 shares of the restaurant operator’s stock, valued at approximately $12,853,000. Norges Bank owned 0.67% of Brinker International as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of EAT. Parkside Financial Bank & Trust grew its position in Brinker International by 3,611.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 668 shares of the restaurant operator’s stock valued at $29,000 after buying an additional 650 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Brinker International during the third quarter valued at approximately $31,000. Covestor Ltd raised its holdings in Brinker International by 28,800.0% during the third quarter. Covestor Ltd now owns 1,445 shares of the restaurant operator’s stock worth $46,000 after purchasing an additional 1,440 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Brinker International by 12.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,070 shares of the restaurant operator’s stock worth $89,000 after purchasing an additional 235 shares in the last quarter. Finally, AXQ Capital LP acquired a new stake in Brinker International in the third quarter worth approximately $205,000.

Brinker International Stock Up 0.1 %

Brinker International stock opened at $71.68 on Wednesday. Brinker International, Inc. has a 12 month low of $28.23 and a 12 month high of $73.00. The company’s fifty day simple moving average is $55.39 and its 200-day simple moving average is $47.09. The stock has a market cap of $3.19 billion, a P/E ratio of 21.27, a P/E/G ratio of 0.86 and a beta of 2.48.

Brinker International (NYSE:EATGet Free Report) last issued its earnings results on Tuesday, April 30th. The restaurant operator reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.09. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.12 billion. Brinker International had a negative return on equity of 154.29% and a net margin of 3.55%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.23 EPS. On average, equities research analysts expect that Brinker International, Inc. will post 3.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Brinker International

In other Brinker International news, SVP Daniel S. Fuller sold 3,611 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $69.04, for a total value of $249,303.44. Following the completion of the sale, the senior vice president now directly owns 34,764 shares of the company’s stock, valued at $2,400,106.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Douglas N. Comings sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $68.31, for a total value of $683,100.00. Following the transaction, the chief operating officer now directly owns 38,164 shares of the company’s stock, valued at approximately $2,606,982.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Daniel S. Fuller sold 3,611 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $69.04, for a total value of $249,303.44. Following the completion of the sale, the senior vice president now owns 34,764 shares of the company’s stock, valued at $2,400,106.56. The disclosure for this sale can be found here. Insiders sold 54,761 shares of company stock worth $3,422,143 over the last ninety days. 1.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Argus upgraded Brinker International from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Tuesday, May 21st. BMO Capital Markets upped their price target on shares of Brinker International from $55.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. UBS Group lifted their price objective on shares of Brinker International from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Morgan Stanley increased their target price on shares of Brinker International from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Friday, April 12th. Finally, Evercore ISI lifted their price target on shares of Brinker International from $53.00 to $65.00 and gave the stock an “in-line” rating in a research report on Wednesday, May 22nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $49.12.

Check Out Our Latest Report on EAT

Brinker International Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Brinker International (NYSE:EAT)

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