Easterly Investment Partners LLC Trims Holdings in Brinker International, Inc. (NYSE:EAT)

Easterly Investment Partners LLC decreased its holdings in Brinker International, Inc. (NYSE:EAT) by 32.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,167 shares of the restaurant operator’s stock after selling 13,594 shares during the quarter. Easterly Investment Partners LLC owned about 0.06% of Brinker International worth $2,156,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EAT. Transcendent Capital Group LLC purchased a new stake in Brinker International in the 1st quarter valued at $25,000. CWM LLC increased its stake in Brinker International by 96.2% in the 2nd quarter. CWM LLC now owns 416 shares of the restaurant operator’s stock valued at $30,000 after buying an additional 204 shares during the period. Headlands Technologies LLC acquired a new position in Brinker International in the 1st quarter valued at $47,000. Covestor Ltd increased its stake in Brinker International by 32,500.0% in the 1st quarter. Covestor Ltd now owns 1,304 shares of the restaurant operator’s stock valued at $65,000 after buying an additional 1,300 shares during the period. Finally, Signaturefd LLC increased its stake in Brinker International by 33.2% in the 2nd 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 period.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EAT. Morgan Stanley boosted their price objective on shares of Brinker International from $42.00 to $50.00 and gave the company an “underweight” rating in a research note on Tuesday, July 16th. Bank Of America (Bofa) boosted their price objective on shares of Brinker International from $94.00 to $97.00 in a research note on Tuesday, October 29th. Stifel Nicolaus boosted their price objective on shares of Brinker International from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Monday. Argus cut shares of Brinker International from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, Piper Sandler upped their price target on shares of Brinker International from $62.00 to $97.00 and gave the stock a “neutral” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $86.45.

Brinker International Price Performance

NYSE EAT traded up $3.79 during trading hours on Friday, reaching $114.49. The company’s stock had a trading volume of 203,988 shares, compared to its average volume of 1,452,799. The stock has a market cap of $5.09 billion, a PE ratio of 27.01, a PEG ratio of 1.19 and a beta of 2.46. Brinker International, Inc. has a fifty-two week low of $33.24 and a fifty-two week high of $119.42. The company’s 50-day moving average is $84.45 and its two-hundred day moving average is $71.82. 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 issued its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.26. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Brinker International had a net margin of 4.11% and a negative return on equity of 839.19%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.28 EPS. Analysts forecast that Brinker International, Inc. will post 5.53 EPS for the current year.

Insider Buying and Selling at Brinker International

In other Brinker International news, CFO Michaela M. Ware sold 3,753 shares of the company’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 transaction, the chief financial officer now directly owns 23,071 shares in the company, valued at approximately $2,376,774.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.72% of the stock is owned by insiders.

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.