Arizona State Retirement System Acquires 234 Shares of Brinker International, Inc. (NYSE:EAT)

Arizona State Retirement System lifted its holdings in shares of Brinker International, Inc. (NYSE:EAT) by 1.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,382 shares of the restaurant operator’s stock after buying an additional 234 shares during the period. Arizona State Retirement System’s holdings in Brinker International were worth $896,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of EAT. Transcendent Capital Group LLC acquired a new position in Brinker International during the first quarter valued at approximately $25,000. TFO Wealth Partners LLC raised its stake in shares of Brinker International by 64,800.0% during the 4th quarter. TFO Wealth Partners LLC now owns 649 shares of the restaurant operator’s stock worth $28,000 after purchasing an additional 648 shares in the last quarter. CWM LLC boosted its holdings in shares of 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 last quarter. Headlands Technologies LLC bought a new position in shares of Brinker International in the first quarter valued at $47,000. Finally, Hollencrest Capital Management acquired a new position in Brinker International during the first quarter worth $50,000.

Analyst Ratings Changes

A number of brokerages have commented on EAT. Argus upgraded shares of Brinker International from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Tuesday, May 21st. Wells Fargo & Company lifted their target price on Brinker International from $45.00 to $50.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Raymond James cut shares of Brinker International from a “strong-buy” rating to an “outperform” rating and raised their target price for the stock from $62.00 to $82.50 in a research note on Monday, July 8th. Bank of America boosted their price objective on Brinker International from $58.00 to $63.00 and gave the stock an “underperform” rating in a report on Thursday, August 15th. Finally, BMO Capital Markets reduced their price target on Brinker International from $85.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $61.85.

Brinker International Stock Performance

Shares of NYSE:EAT opened at $70.39 on Friday. Brinker International, Inc. has a 1 year low of $28.23 and a 1 year high of $76.02. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 1.14 and a beta of 2.52. The company has a debt-to-equity ratio of 19.96, a current ratio of 0.38 and a quick ratio of 0.32. The company’s 50 day simple moving average is $67.15 and its 200 day simple moving average is $60.82.

Brinker International (NYSE:EAT) last issued its quarterly earnings results on Wednesday, August 14th. The restaurant operator reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). Brinker International had a net margin of 3.52% and a negative return on equity of 274.62%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the business posted $1.39 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, research analysts predict that Brinker International, Inc. will post 4.64 EPS for the current fiscal year.

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.