Allspring Global Investments Holdings LLC Cuts Stock Position in Brinker International, Inc. (NYSE:EAT)

Allspring Global Investments Holdings LLC lessened its stake in shares of Brinker International, Inc. (NYSE:EAT) by 41.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,342 shares of the restaurant operator’s stock after selling 47,604 shares during the period. Allspring Global Investments Holdings LLC owned 0.15% of Brinker International worth $8,776,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Entropy Technologies LP bought a new position in shares of Brinker International in the 4th quarter valued at about $410,000. Principal Financial Group Inc. raised its position in Brinker International by 23.5% in the 3rd quarter. Principal Financial Group Inc. now owns 272,822 shares of the restaurant operator’s stock worth $20,879,000 after purchasing an additional 51,927 shares during the period. Stephens Inc. AR purchased a new stake in Brinker International in the 4th quarter worth about $661,000. Empowered Funds LLC purchased a new stake in Brinker International in the 3rd quarter worth about $5,330,000. Finally, Intech Investment Management LLC raised its position in Brinker International by 399.9% in the 3rd quarter. Intech Investment Management LLC now owns 24,102 shares of the restaurant operator’s stock worth $1,845,000 after purchasing an additional 19,281 shares during the period.

Brinker International Stock Performance

Shares of NYSE:EAT opened at $167.03 on Wednesday. The business’s 50 day moving average price is $149.40 and its 200-day moving average price is $111.59. The company has a debt-to-equity ratio of 4.96, a current ratio of 0.33 and a quick ratio of 0.27. The firm has a market capitalization of $7.42 billion, a PE ratio of 28.95, a P/E/G ratio of 0.58 and a beta of 2.54. Brinker International, Inc. has a 1 year low of $43.37 and a 1 year high of $192.21.

Brinker International (NYSE:EAT) last issued its earnings results on Wednesday, January 29th. The restaurant operator reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $1.43. Brinker International had a net margin of 5.45% and a return on equity of 879.47%. As a group, equities research analysts expect that Brinker International, Inc. will post 8.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Stifel Nicolaus increased their price objective on shares of Brinker International from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Piper Sandler boosted their price objective on shares of Brinker International from $62.00 to $97.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. lifted their price target on shares of Brinker International from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. 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 report on Tuesday, December 24th. Finally, Citigroup lifted their price target on shares of Brinker International from $166.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $140.18.

Insider Activity at Brinker International

In related news, COO Douglas N. Comings sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $187.90, for a total transaction of $1,409,250.00. Following the sale, the chief operating officer now directly owns 34,252 shares in the company, valued at approximately $6,435,950.80. This represents a 17.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cindy L. Davis sold 5,802 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $187.86, for a total transaction of $1,089,963.72. Following the transaction, the director now owns 11,107 shares of the company’s stock, valued at $2,086,561.02. This trade represents a 34.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,802 shares of company stock worth $3,752,464. Insiders own 1.72% of the company’s stock.

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.