PDT Partners LLC Has $2.06 Million Position in Brinker International, Inc. (NYSE:EAT)

PDT Partners LLC cut its holdings in Brinker International, Inc. (NYSE:EAT) by 52.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 26,865 shares of the restaurant operator’s stock after selling 29,200 shares during the quarter. PDT Partners LLC’s holdings in Brinker International were worth $2,056,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Marshall Wace LLP lifted its stake in Brinker International by 13,850.1% in the second quarter. Marshall Wace LLP now owns 1,057,416 shares of the restaurant operator’s stock valued at $76,546,000 after buying an additional 1,049,836 shares in the last quarter. Millennium Management LLC raised its holdings 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 during the period. Assenagon Asset Management S.A. raised its holdings in shares of Brinker International by 1,686.8% during the second quarter. Assenagon Asset Management S.A. now owns 192,972 shares of the restaurant operator’s stock worth $13,969,000 after acquiring an additional 182,172 shares during the period. Squarepoint Ops LLC boosted its stake in Brinker International by 1,160.2% in the 2nd quarter. Squarepoint Ops LLC now owns 192,268 shares of the restaurant operator’s stock worth $13,918,000 after purchasing an additional 177,011 shares during the period. Finally, Shellback Capital LP acquired a new position in Brinker International in the 2nd quarter worth $7,963,000.

Brinker International Price Performance

NYSE:EAT opened at $132.27 on Friday. Brinker International, Inc. has a 12-month low of $35.60 and a 12-month high of $133.82. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of 32.26, a P/E/G ratio of 1.44 and a beta of 2.46. The stock’s 50 day moving average price is $100.93 and its two-hundred day moving average price is $79.60. 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 (NYSE:EAT) last posted its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.26. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the business earned $0.28 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, analysts anticipate that Brinker International, Inc. will post 5.52 earnings per share for the current year.

Insider Transactions at Brinker International

In other news, CFO Michaela M. Ware sold 3,753 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $103.02, for a total value of $386,634.06. Following the transaction, the chief financial officer now owns 23,071 shares of the company’s stock, valued at approximately $2,376,774.42. This represents a 13.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Piper Sandler lifted their price target on Brinker International from $62.00 to $97.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. KeyCorp lifted their target price on Brinker International from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Stifel Nicolaus upped their price target on Brinker International from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Citigroup lifted their price objective on shares of Brinker International from $83.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Evercore ISI increased their target price on shares of Brinker International from $69.00 to $90.00 and gave the stock an “in-line” rating in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Brinker International presently has an average rating of “Hold” and an average price target of $86.45.

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.