Parametrica Management Ltd Makes New Investment in Brinker International, Inc. (NYSE:EAT)

Parametrica Management Ltd bought a new position in shares of Brinker International, Inc. (NYSE:EAT) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,733 shares of the restaurant operator’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EAT. Vanguard Group Inc. grew its holdings in Brinker International by 2.5% during the first quarter. Vanguard Group Inc. now owns 5,535,500 shares of the restaurant operator’s stock valued at $275,004,000 after purchasing an additional 135,580 shares during the period. Boston Partners raised its position in shares of Brinker International by 231.8% during the first quarter. Boston Partners now owns 1,583,239 shares of the restaurant operator’s stock worth $78,602,000 after purchasing an additional 1,106,046 shares during the period. Marshall Wace LLP raised its holdings in Brinker International by 13,850.1% during the 2nd quarter. Marshall Wace LLP now owns 1,057,416 shares of the restaurant operator’s stock worth $76,546,000 after buying an additional 1,049,836 shares during the period. Millennium Management LLC increased its position in shares of Brinker International by 31.7% during the second quarter. Millennium Management LLC now owns 942,510 shares of the restaurant operator’s stock worth $68,228,000 after acquiring an additional 227,047 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Brinker International by 15.9% during the second quarter. Renaissance Technologies LLC now owns 295,700 shares of the restaurant operator’s stock worth $21,406,000 after acquiring an additional 40,500 shares in the last quarter.

Insider Activity at Brinker International

In related news, CFO Michaela M. Ware sold 3,753 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was 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 directly owns 23,071 shares of the company’s stock, valued at $2,376,774.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EAT. Piper Sandler increased their price objective on shares of Brinker International from $62.00 to $97.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Morgan Stanley raised their target price on shares of Brinker International from $42.00 to $50.00 and gave the company an “underweight” rating in a research report on Tuesday, July 16th. Bank Of America (Bofa) raised their target price on shares of Brinker International from $94.00 to $97.00 in a research report on Tuesday, October 29th. JPMorgan Chase & Co. downgraded shares of Brinker International from an “overweight” rating to a “neutral” rating and raised their target price for the company from $67.00 to $100.00 in a research report on Thursday, October 31st. Finally, Wedbush reiterated a “neutral” rating and set a $68.00 target price on shares of Brinker International in a report on Thursday, August 15th. 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. Based on data from MarketBeat, Brinker International has an average rating of “Hold” and a consensus target price of $86.45.

Brinker International Trading Up 2.6 %

Shares of NYSE:EAT traded up $3.13 during midday trading on Wednesday, reaching $122.13. The company’s stock had a trading volume of 176,483 shares, compared to its average volume of 1,452,140. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 1.30 and a beta of 2.46. 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 50 day moving average price of $87.19 and a two-hundred day moving average price of $73.62. Brinker International, Inc. has a fifty-two week low of $34.43 and a fifty-two week high of $122.79.

Brinker International (NYSE:EAT) last announced its quarterly earnings data 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. 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 was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 EPS. As a group, analysts forecast that Brinker International, Inc. will post 5.53 earnings per share for the current year.

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.