Brinker International, Inc. (NYSE:EAT) Shares Bought by Bank of Montreal Can

Bank of Montreal Can increased its position in Brinker International, Inc. (NYSE:EAT) by 771.8% in the third quarter, Holdings Channel reports. The firm owned 64,323 shares of the restaurant operator’s stock after purchasing an additional 56,945 shares during the quarter. Bank of Montreal Can’s holdings in Brinker International were worth $4,862,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. NorthCrest Asset Manangement LLC grew its position in shares of Brinker International by 1.1% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 12,015 shares of the restaurant operator’s stock valued at $920,000 after buying an additional 135 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Brinker International by 1.3% during the second quarter. Nisa Investment Advisors LLC now owns 13,357 shares of the restaurant operator’s stock valued at $967,000 after purchasing an additional 169 shares during the last quarter. CWM LLC raised its position in shares of Brinker International by 96.2% during the 2nd quarter. CWM LLC now owns 416 shares of the restaurant operator’s stock worth $30,000 after purchasing an additional 204 shares during the period. Arizona State Retirement System lifted its holdings in shares of Brinker International by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 12,382 shares of the restaurant operator’s stock worth $896,000 after purchasing an additional 234 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Brinker International by 33.2% in the second quarter. Signaturefd LLC now owns 986 shares of the restaurant operator’s stock valued at $71,000 after buying an additional 246 shares during the last quarter.

Insiders Place Their Bets

In other news, CFO Michaela M. Ware sold 3,753 shares of the firm’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 approximately $2,376,774.42. This trade represents a 13.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.72% of the company’s stock.

Brinker International Price Performance

NYSE EAT opened at $129.11 on Wednesday. The company has a 50 day simple moving average of $101.98 and a 200-day simple moving average of $80.32. Brinker International, Inc. has a 52-week low of $37.25 and a 52-week high of $133.82. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 31.49, a price-to-earnings-growth ratio of 1.44 and a beta of 2.51. The company has a debt-to-equity ratio of 63.54, a current ratio of 0.32 and a quick ratio of 0.26.

Brinker International (NYSE:EAT) last issued its earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the business posted $0.28 EPS. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. Equities research analysts predict that Brinker International, Inc. will post 5.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on EAT shares. BMO Capital Markets cut shares of Brinker International from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $80.00 to $105.00 in a report on Thursday, October 31st. Wedbush reiterated a “neutral” rating and set a $68.00 price target on shares of Brinker International in a research report on Thursday, August 15th. Evercore ISI raised their target price on shares of Brinker International from $69.00 to $90.00 and gave the company an “in-line” rating in a research note on Tuesday, October 15th. Barclays increased their price target on Brinker International from $76.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Finally, Bank of America boosted their price objective on Brinker International from $97.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Brinker International presently has an average rating of “Hold” and a consensus target price 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.