Choreo LLC Boosts Stake in Brinker International, Inc. (NYSE:EAT)

Choreo LLC raised its position in Brinker International, Inc. (NYSE:EAT) by 26.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,662 shares of the restaurant operator’s stock after purchasing an additional 762 shares during the quarter. Choreo LLC’s holdings in Brinker International were worth $484,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of EAT. Hennessy Advisors Inc. purchased a new position in Brinker International in the fourth quarter valued at approximately $81,888,000. Assenagon Asset Management S.A. raised its stake in shares of Brinker International by 2,612.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 588,594 shares of the restaurant operator’s stock valued at $77,865,000 after acquiring an additional 566,894 shares during the period. Wedge Capital Management L L P NC lifted its holdings in shares of Brinker International by 1,145.2% during the 4th quarter. Wedge Capital Management L L P NC now owns 416,044 shares of the restaurant operator’s stock valued at $55,038,000 after acquiring an additional 382,633 shares in the last quarter. Wellington Management Group LLP boosted its position in Brinker International by 55.1% during the 3rd quarter. Wellington Management Group LLP now owns 618,728 shares of the restaurant operator’s stock worth $47,351,000 after purchasing an additional 219,836 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Brinker International in the 3rd quarter valued at $14,611,000.

Brinker International Trading Down 2.1 %

NYSE:EAT opened at $164.32 on Wednesday. The company has a market cap of $7.30 billion, a PE ratio of 28.48, a P/E/G ratio of 0.58 and a beta of 2.54. The business’s 50 day moving average is $146.02 and its two-hundred day moving average is $108.17. The company has a quick ratio of 0.27, a current ratio of 0.33 and a debt-to-equity ratio of 4.96. Brinker International, Inc. has a 52 week low of $42.99 and a 52 week high of $192.21.

Brinker International (NYSE:EAT) last announced its quarterly earnings data on Wednesday, January 29th. The restaurant operator reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $1.43. Brinker International had a return on equity of 879.47% and a net margin of 5.45%. On average, analysts predict that Brinker International, Inc. will post 8.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Raymond James cut Brinker International from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 17th. Citigroup upped their price target on Brinker International from $166.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. KeyCorp lowered shares of Brinker International from an “overweight” rating to a “sector weight” rating and set a $115.00 price objective on the stock. in a research note on Friday, January 24th. BMO Capital Markets upped their target price on shares of Brinker International from $105.00 to $125.00 and gave the company a “market perform” rating in a research note on Monday, January 27th. Finally, Argus raised shares of Brinker International from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Tuesday, December 24th. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $140.18.

Insider Activity

In other news, Director Cindy L. Davis sold 5,802 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $187.86, for a total transaction of $1,089,963.72. Following the completion of the transaction, the director now owns 11,107 shares of the company’s stock, valued at approximately $2,086,561.02. The trade was a 34.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Douglas N. Comings sold 7,500 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $167.10, for a total transaction of $1,253,250.00. Following the transaction, the chief operating officer now owns 26,752 shares of the company’s stock, valued at $4,470,259.20. This represents a 21.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,802 shares of company stock valued at $3,752,464. Company insiders own 1.72% of the company’s stock.

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.