Wealth Enhancement Advisory Services LLC Purchases Shares of 4,869 Brinker International, Inc. (NYSE:EAT)

Wealth Enhancement Advisory Services LLC acquired a new position in shares of Brinker International, Inc. (NYSE:EAT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,869 shares of the restaurant operator’s stock, valued at approximately $352,000.

A number of other institutional investors and hedge funds also recently modified their holdings of EAT. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Brinker International by 19.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,008 shares of the restaurant operator’s stock worth $605,000 after buying an additional 2,239 shares during the last quarter. Federated Hermes Inc. acquired a new position in shares of Brinker International during the 4th quarter worth approximately $3,522,000. Parkside Financial Bank & Trust raised its stake 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 acquiring an additional 650 shares during the period. Mach 1 Financial Group LLC bought a new stake in Brinker International in the 4th quarter valued at $517,000. Finally, Victory Capital Management Inc. boosted its position in Brinker International by 1.3% during the fourth quarter. Victory Capital Management Inc. now owns 17,318 shares of the restaurant operator’s stock worth $748,000 after purchasing an additional 230 shares during the period.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EAT. Argus raised shares of Brinker International from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research report on Tuesday, May 21st. JPMorgan Chase & Co. raised their price objective on shares of Brinker International from $48.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Raymond James downgraded Brinker International from a “strong-buy” rating to an “outperform” rating and upped their target price for the company from $62.00 to $82.50 in a research report on Monday, July 8th. Evercore ISI boosted their price target on Brinker International from $65.00 to $69.00 and gave the company an “in-line” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company increased their price objective on Brinker International from $45.00 to $50.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $61.85.

Insider Transactions at Brinker International

In related news, COO Douglas N. Comings sold 2,953 shares of Brinker International stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $72.97, for a total transaction of $215,480.41. Following the sale, the chief operating officer now directly owns 38,164 shares of the company’s stock, valued at approximately $2,784,827.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Brinker International news, SVP Daniel S. Fuller sold 3,611 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 34,764 shares of the company’s stock, valued at approximately $2,400,106.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Douglas N. Comings sold 2,953 shares of Brinker International stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $72.97, for a total value of $215,480.41. Following the sale, the chief operating officer now directly owns 38,164 shares in the company, valued at $2,784,827.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,564 shares of company stock valued at $1,147,884. 1.50% of the stock is currently owned by insiders.

Brinker International Price Performance

Shares of EAT opened at $71.13 on Friday. The firm has a 50 day simple moving average of $67.35 and a two-hundred day simple moving average of $58.04. Brinker International, Inc. has a one year low of $28.23 and a one year high of $76.02. The company has a market cap of $3.16 billion, a P/E ratio of 21.11, a P/E/G ratio of 0.63 and a beta of 2.52.

Brinker International (NYSE:EAT) last posted its quarterly earnings results on Wednesday, August 14th. The restaurant operator reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.17 billion. Brinker International had a negative return on equity of 154.29% and a net margin of 3.55%. Brinker International’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the firm posted $1.39 EPS. On average, analysts expect that Brinker International, Inc. will post 4.18 earnings per share for the current fiscal year.

Brinker International Company 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.