Sei Investments Co. Reduces Stock Position in Brinker International, Inc. (NYSE:EAT)

Sei Investments Co. lowered its holdings in shares of Brinker International, Inc. (NYSE:EAT) by 6.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,410 shares of the restaurant operator’s stock after selling 1,172 shares during the quarter. Sei Investments Co.’s holdings in Brinker International were worth $784,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc raised its position in shares of Brinker International by 2,765.4% in the 3rd quarter. Versant Capital Management Inc now owns 745 shares of the restaurant operator’s stock worth $31,000 after acquiring an additional 719 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Brinker International in the 3rd quarter worth $40,000. US Bancorp DE raised its position in shares of Brinker International by 328.1% in the 2nd quarter. US Bancorp DE now owns 2,312 shares of the restaurant operator’s stock worth $56,000 after acquiring an additional 1,772 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Brinker International during the 3rd quarter valued at about $58,000. Finally, Cerebellum GP LLC acquired a new position in Brinker International during the 3rd quarter valued at about $61,000. Institutional investors and hedge funds own 92.48% of the company’s stock.

Several research analysts recently issued reports on EAT shares. Stifel Nicolaus upped their target price on Brinker International from $40.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, September 8th. Wells Fargo & Company upped their target price on Brinker International from $45.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, October 29th. BidaskClub raised Brinker International from a “hold” rating to a “buy” rating in a research report on Saturday, December 12th. Piper Sandler upped their target price on Brinker International from $37.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, September 14th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Brinker International from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $47.74.

Shares of EAT opened at $56.57 on Friday. Brinker International, Inc. has a 52 week low of $7.00 and a 52 week high of $59.70. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 99.25, a PEG ratio of 1.06 and a beta of 2.62. The stock’s 50-day moving average price is $52.87 and its 200-day moving average price is $40.67.

Brinker International (NYSE:EAT) last issued its earnings results on Wednesday, October 28th. The restaurant operator reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.46. Brinker International had a negative return on equity of 12.26% and a net margin of 0.67%. The firm had revenue of $740.10 million for the quarter, compared to the consensus estimate of $732.58 million. Equities research analysts expect that Brinker International, Inc. will post 2.5 EPS for the current fiscal year.

In other Brinker International news, EVP Rick Badgley sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $48.00, for a total transaction of $240,000.00. Following the transaction, the executive vice president now owns 26,122 shares in the company, valued at $1,253,856. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Wade Allen sold 4,760 shares of the stock in a transaction that occurred on Thursday, December 3rd. The stock was sold at an average price of $53.31, for a total value of $253,755.60. Following the transaction, the senior vice president now owns 15,677 shares in the company, valued at approximately $835,740.87. The disclosure for this sale can be found here. 3.72% of the stock is owned by corporate insiders.

About Brinker International

Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants in the United States and internationally. As of June 24, 2020, it owned, operated, or franchised 1,663 restaurants comprising 1,610 restaurants under the Chili's Grill & Bar name and 53 restaurants under the Maggiano's Little Italy brand name.

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

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