Primecap Management Co. CA Sells 18,900 Shares of Brinker International, Inc. (NYSE:EAT)

Primecap Management Co. CA decreased its holdings in Brinker International, Inc. (NYSE:EAT) by 31.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,300 shares of the restaurant operator’s stock after selling 18,900 shares during the quarter. Primecap Management Co. CA owned approximately 0.09% of Brinker International worth $2,990,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Brinker International by 2.5% in the first quarter. Vanguard Group Inc. now owns 5,535,500 shares of the restaurant operator’s stock valued at $275,004,000 after buying an additional 135,580 shares during the last quarter. Boston Partners raised its stake in shares of Brinker International by 231.8% in the first quarter. Boston Partners now owns 1,583,239 shares of the restaurant operator’s stock worth $78,602,000 after acquiring an additional 1,106,046 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Brinker International by 24.6% during the fourth quarter. Franklin Resources Inc. now owns 1,503,198 shares of the restaurant operator’s stock worth $64,908,000 after purchasing an additional 296,785 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Brinker International by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 936,283 shares of the restaurant operator’s stock valued at $40,430,000 after purchasing an additional 4,294 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Brinker International by 9.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 632,484 shares of the restaurant operator’s stock valued at $27,311,000 after purchasing an additional 53,657 shares in the last quarter.

Analyst Upgrades and Downgrades

EAT has been the topic of several research reports. Bank of America upped 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. Evercore ISI raised their price target on Brinker International from $65.00 to $69.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. Wells Fargo & Company boosted their price objective on Brinker International from $45.00 to $50.00 and gave the stock an “underweight” rating in a report on Thursday, August 15th. Barclays raised their target price on shares of Brinker International from $53.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Finally, Morgan Stanley boosted their price target on shares of Brinker International from $42.00 to $50.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 16th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.85.

Brinker International Stock Performance

EAT stock opened at $74.09 on Thursday. Brinker International, Inc. has a 1-year low of $28.23 and a 1-year high of $76.90. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 19.96. The firm has a market cap of $3.30 billion, a PE ratio of 21.99, a P/E/G ratio of 1.14 and a beta of 2.52. The business’s 50-day moving average price is $67.38 and its two-hundred day moving average price is $61.30.

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