Geode Capital Management LLC Increases Stake in Brinker International, Inc. (NYSE:EAT)

Geode Capital Management LLC increased its position in shares of Brinker International, Inc. (NYSE:EAT) by 0.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 998,278 shares of the restaurant operator’s stock after buying an additional 8,105 shares during the period. Geode Capital Management LLC owned about 2.25% of Brinker International worth $76,413,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP increased its position in shares of Brinker International by 13,850.1% in the 2nd quarter. Marshall Wace LLP now owns 1,057,416 shares of the restaurant operator’s stock valued at $76,546,000 after purchasing an additional 1,049,836 shares during the last quarter. Millennium Management LLC increased its holdings in Brinker International by 31.7% in the second quarter. Millennium Management LLC now owns 942,510 shares of the restaurant operator’s stock valued at $68,228,000 after buying an additional 227,047 shares during the last quarter. Wellington Management Group LLP raised its stake in Brinker International by 55.1% in the third quarter. Wellington Management Group LLP now owns 618,728 shares of the restaurant operator’s stock valued at $47,351,000 after buying an additional 219,836 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Brinker International in the third quarter valued at $14,611,000. Finally, Squarepoint Ops LLC lifted its holdings in Brinker International by 1,160.2% during the 2nd quarter. Squarepoint Ops LLC now owns 192,268 shares of the restaurant operator’s stock worth $13,918,000 after buying an additional 177,011 shares during the last quarter.

Insider Buying and Selling

In related news, CFO Michaela M. Ware sold 3,753 shares of the firm’s 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 sale, the chief financial officer now owns 23,071 shares in the company, valued at $2,376,774.42. This trade represents a 13.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.72% of the stock is currently owned by corporate insiders.

Brinker International Stock Up 2.2 %

Shares of Brinker International stock opened at $134.26 on Friday. Brinker International, Inc. has a one year low of $37.25 and a one year high of $136.15. The company has a market cap of $5.96 billion, a P/E ratio of 32.75, a PEG ratio of 1.46 and a beta of 2.51. The company has a debt-to-equity ratio of 63.54, a quick ratio of 0.26 and a current ratio of 0.32. The firm has a fifty day moving average of $114.81 and a two-hundred day moving average of $85.79.

Brinker International (NYSE:EAT) last posted its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.26. Brinker International had a net margin of 4.11% and a negative return on equity of 839.19%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the company posted $0.28 earnings per share. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, analysts forecast that Brinker International, Inc. will post 5.43 earnings per share for the current year.

Analyst Ratings Changes

EAT has been the topic of several research analyst reports. Citigroup raised their target price on Brinker International from $83.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. UBS Group boosted their price objective on shares of Brinker International from $70.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Bank of America upped their target price on shares of Brinker International from $97.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Argus cut shares of Brinker International from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, Bank Of America (Bofa) upped their price objective on shares of Brinker International from $94.00 to $97.00 in a research note on Tuesday, October 29th. Sixteen analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $94.63.

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.