Summit Financial LLC Buys Shares of 2,333 Brinker International, Inc. (NYSE:EAT)

Summit Financial LLC purchased a new position in Brinker International, Inc. (NYSE:EAT) in the fourth quarter, Holdings Channel reports. The fund purchased 2,333 shares of the restaurant operator’s stock, valued at approximately $309,000.

Several other institutional investors have also made changes to their positions in the stock. Alliancebernstein L.P. lifted its position in Brinker International by 8.1% in the 4th quarter. Alliancebernstein L.P. now owns 55,221 shares of the restaurant operator’s stock worth $7,305,000 after buying an additional 4,119 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Brinker International by 44.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 28,495 shares of the restaurant operator’s stock worth $3,770,000 after acquiring an additional 8,796 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Brinker International in the fourth quarter worth $7,235,000. Norges Bank purchased a new stake in shares of Brinker International during the fourth quarter worth $21,549,000. Finally, WINTON GROUP Ltd acquired a new stake in Brinker International during the fourth quarter valued at $351,000.

Brinker International Stock Performance

NYSE:EAT opened at $138.78 on Friday. The firm’s 50-day moving average is $156.46 and its 200-day moving average is $128.85. The company has a market cap of $6.16 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 0.49 and a beta of 2.20. The company has a debt-to-equity ratio of 4.96, a quick ratio of 0.27 and a current ratio of 0.33. Brinker International, Inc. has a 52-week low of $43.37 and a 52-week high of $192.22.

Brinker International (NYSE:EAT) last issued its quarterly earnings results on Wednesday, January 29th. The restaurant operator reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $1.43. Brinker International had a return on equity of 879.47% and a net margin of 5.45%. Equities research analysts anticipate that Brinker International, Inc. will post 8.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. StockNews.com raised Brinker International from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. BMO Capital Markets raised their price objective on shares of Brinker International from $105.00 to $125.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. KeyCorp lowered shares of Brinker International from an “overweight” rating to a “sector weight” rating and set a $115.00 price target on the stock. in a research note on Friday, January 24th. Stifel Nicolaus lifted their price objective on shares of Brinker International from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. increased their target price on shares of Brinker International from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $140.18.

Insider Activity at Brinker International

In related news, Director Cindy L. Davis sold 5,802 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $187.86, for a total value of $1,089,963.72. Following the completion of the transaction, the director now owns 11,107 shares of the company’s stock, valued at $2,086,561.02. This represents a 34.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Douglas N. Comings sold 7,500 shares of Brinker International stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $167.10, for a total value of $1,253,250.00. Following the sale, the chief operating officer now directly owns 26,752 shares in the company, valued at $4,470,259.20. The trade was a 21.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,802 shares of company stock worth $3,752,464. 1.72% of the stock is owned by corporate insiders.

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.