Intech Investment Management LLC Purchases 19,281 Shares of Brinker International, Inc. (NYSE:EAT)

Intech Investment Management LLC boosted its stake in Brinker International, Inc. (NYSE:EAT) by 399.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,102 shares of the restaurant operator’s stock after purchasing an additional 19,281 shares during the quarter. Intech Investment Management LLC owned about 0.05% of Brinker International worth $1,845,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in EAT. CWM LLC boosted its position in Brinker International by 96.2% in the second quarter. CWM LLC now owns 416 shares of the restaurant operator’s stock worth $30,000 after purchasing an additional 204 shares during the last quarter. Signaturefd LLC boosted its stake in Brinker International by 33.2% in the second quarter. Signaturefd LLC now owns 986 shares of the restaurant operator’s stock worth $71,000 after buying an additional 246 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Brinker International by 1,265.2% in the 2nd quarter. Quest Partners LLC now owns 1,884 shares of the restaurant operator’s stock valued at $136,000 after purchasing an additional 1,746 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Brinker International by 1,111.8% during the second quarter. Fifth Third Bancorp now owns 2,266 shares of the restaurant operator’s stock valued at $164,000 after buying an additional 2,079 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in Brinker International during the 2nd quarter worth approximately $166,000.

Analyst Ratings Changes

A number of equities analysts have issued reports on EAT shares. UBS Group boosted their price objective on shares of Brinker International from $70.00 to $94.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. downgraded Brinker International from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $67.00 to $100.00 in a report on Thursday, October 31st. Piper Sandler boosted their price target on Brinker International from $62.00 to $97.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. KeyCorp increased their price objective on shares of Brinker International from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Bank of America lifted their target price on Brinker International from $97.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $86.45.

Brinker International Stock Performance

NYSE EAT opened at $125.62 on Monday. The business has a 50-day moving average price of $95.35 and a 200-day moving average price of $77.36. The company has a quick ratio of 0.26, a current ratio of 0.32 and a debt-to-equity ratio of 63.54. Brinker International, Inc. has a twelve month low of $34.77 and a twelve month high of $126.29. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 30.64, a price-to-earnings-growth ratio of 1.37 and a beta of 2.46.

Brinker International (NYSE:EAT) last posted 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. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.10 billion. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 earnings per share. As a group, equities research analysts predict that Brinker International, Inc. will post 5.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other Brinker International news, CFO Michaela M. Ware sold 3,753 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $103.02, for a total transaction of $386,634.06. Following the transaction, the chief financial officer now owns 23,071 shares in the company, valued at $2,376,774.42. The trade was a 13.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.72% of the company’s stock.

Brinker International 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.