Renaissance Technologies LLC Raises Position in Brinker International, Inc. (NYSE:EAT)

Renaissance Technologies LLC grew its position in Brinker International, Inc. (NYSE:EAT) by 15.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 295,700 shares of the restaurant operator’s stock after acquiring an additional 40,500 shares during the period. Renaissance Technologies LLC owned about 0.66% of Brinker International worth $21,406,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Transcendent Capital Group LLC acquired a new stake in shares of Brinker International in the first quarter valued at about $25,000. TFO Wealth Partners LLC lifted its stake in shares of Brinker International by 64,800.0% in the fourth quarter. TFO Wealth Partners LLC now owns 649 shares of the restaurant operator’s stock valued at $28,000 after purchasing an additional 648 shares during the period. CWM LLC lifted its stake in shares of Brinker International by 96.2% in the second quarter. CWM LLC now owns 416 shares of the restaurant operator’s stock valued at $30,000 after purchasing an additional 204 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Brinker International in the first quarter valued at about $47,000. Finally, Hollencrest Capital Management acquired a new stake in shares of Brinker International in the first quarter valued at about $50,000.

Wall Street Analyst Weigh In

EAT has been the subject of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of Brinker International from $45.00 to $50.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. Bank of America lifted their target price on shares of Brinker International from $58.00 to $63.00 and gave the stock an “underperform” rating in a research report on Thursday, August 15th. Morgan Stanley lifted their target price on shares of Brinker International from $42.00 to $50.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 16th. BMO Capital Markets cut their target price on shares of Brinker International from $85.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, August 15th. Finally, Raymond James cut shares of Brinker International from a “strong-buy” rating to an “outperform” rating and lifted their target price for the stock from $62.00 to $82.50 in a research report on Monday, July 8th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Brinker International currently has an average rating of “Hold” and an average price target of $61.85.

Brinker International Stock Performance

NYSE:EAT opened at $76.59 on Friday. Brinker International, Inc. has a 1-year low of $28.23 and a 1-year high of $78.09. The firm has a 50 day simple moving average of $67.80 and a 200-day simple moving average of $61.51. The firm has a market cap of $3.41 billion, a PE ratio of 22.73, a P/E/G 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.

Brinker International (NYSE:EAT) last released its earnings results on Wednesday, August 14th. The restaurant operator reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the firm posted $1.39 earnings per share. Brinker International’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities analysts expect that Brinker International, Inc. will post 4.64 EPS 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.