Brinker International, Inc. (NYSE:EAT) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA reduced its stake in shares of Brinker International, Inc. (NYSE:EAT) by 15.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,800 shares of the restaurant operator’s stock after selling 6,500 shares during the period. Primecap Management Co. CA’s holdings in Brinker International were worth $2,663,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Brinker International by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 5,535,500 shares of the restaurant operator’s stock valued at $275,004,000 after purchasing an additional 135,580 shares during the last quarter. Boston Partners raised its position in shares of Brinker International by 231.8% in the 1st quarter. Boston Partners now owns 1,583,239 shares of the restaurant operator’s stock worth $78,602,000 after buying an additional 1,106,046 shares during the period. Marshall Wace LLP boosted its holdings in Brinker International by 13,850.1% in the second quarter. Marshall Wace LLP now owns 1,057,416 shares of the restaurant operator’s stock valued at $76,546,000 after acquiring an additional 1,049,836 shares during the last quarter. Millennium Management LLC grew its position in Brinker International by 31.7% during the second quarter. Millennium Management LLC now owns 942,510 shares of the restaurant operator’s stock valued at $68,228,000 after acquiring an additional 227,047 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Brinker International by 15.9% during the second quarter. Renaissance Technologies LLC now owns 295,700 shares of the restaurant operator’s stock worth $21,406,000 after acquiring an additional 40,500 shares during the last quarter.

Brinker International Stock Performance

Shares of Brinker International stock opened at $125.61 on Friday. The firm has a market cap of $5.58 billion, a PE ratio of 30.64, a price-to-earnings-growth ratio of 1.35 and a beta of 2.46. Brinker International, Inc. has a 1 year low of $34.77 and a 1 year high of $126.29. The firm’s 50-day simple moving average is $95.35 and its 200-day simple moving average is $77.09. The company has a debt-to-equity ratio of 63.54, a quick ratio of 0.26 and a current ratio of 0.32.

Brinker International (NYSE:EAT) last released its earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.26. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the business posted $0.28 EPS. Brinker International’s quarterly revenue was up 12.5% compared to the same quarter last year. Equities analysts forecast that Brinker International, Inc. will post 5.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Brinker International

In other news, CFO Michaela M. Ware sold 3,753 shares of Brinker International stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $103.02, for a total value of $386,634.06. Following the completion of the transaction, the chief financial officer now directly owns 23,071 shares of the company’s stock, valued at approximately $2,376,774.42. The trade was a 13.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.72% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on EAT. BMO Capital Markets lowered Brinker International from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $80.00 to $105.00 in a research note on Thursday, October 31st. Wedbush reiterated a “neutral” rating and set a $68.00 price objective on shares of Brinker International in a research note on Thursday, August 15th. Raymond James lowered shares of Brinker International from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 17th. Barclays lifted their target price on shares of Brinker International from $76.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, Argus downgraded Brinker International from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Brinker International has an average rating of “Hold” and a consensus price target of $86.45.

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.