Wedge Capital Management L L P NC Invests $1.17 Million in Brinker International, Inc. (NYSE:EAT)

Wedge Capital Management L L P NC acquired a new stake in Brinker International, Inc. (NYSE:EAT) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 27,146 shares of the restaurant operator’s stock, valued at approximately $1,172,000. Wedge Capital Management L L P NC owned 0.06% of Brinker International at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Invesco Ltd. lifted its holdings in Brinker International by 20.4% in the third quarter. Invesco Ltd. now owns 332,176 shares of the restaurant operator’s stock valued at $10,493,000 after buying an additional 56,192 shares during the period. SG Americas Securities LLC increased its stake in Brinker International by 5.5% in the fourth quarter. SG Americas Securities LLC now owns 23,079 shares of the restaurant operator’s stock valued at $997,000 after purchasing an additional 1,205 shares in the last quarter. New York State Common Retirement Fund increased its stake in Brinker International by 63.9% in the third quarter. New York State Common Retirement Fund now owns 31,428 shares of the restaurant operator’s stock valued at $993,000 after purchasing an additional 12,251 shares in the last quarter. Barclays PLC increased its stake in Brinker International by 411.7% in the third quarter. Barclays PLC now owns 170,719 shares of the restaurant operator’s stock valued at $5,394,000 after purchasing an additional 137,354 shares in the last quarter. Finally, FMR LLC increased its stake in Brinker International by 0.8% in the third quarter. FMR LLC now owns 6,694,269 shares of the restaurant operator’s stock valued at $211,472,000 after purchasing an additional 54,628 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts have commented on EAT shares. JPMorgan Chase & Co. upped their target price on shares of Brinker International from $44.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Morgan Stanley boosted their price target on shares of Brinker International from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Friday, April 12th. BMO Capital Markets boosted their price target on shares of Brinker International from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Gordon Haskett raised shares of Brinker International from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Tuesday, January 16th. Finally, UBS Group boosted their price target on shares of Brinker International from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $44.19.

Insider Transactions at Brinker International

In other news, CFO Joseph G. Taylor sold 24,163 shares of Brinker International stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $44.97, for a total transaction of $1,086,610.11. Following the completion of the transaction, the chief financial officer now directly owns 56,661 shares in the company, valued at $2,548,045.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by corporate insiders.

Brinker International Stock Performance

EAT stock opened at $48.27 on Friday. The company has a fifty day moving average price of $47.09 and a 200-day moving average price of $41.40. The company has a market capitalization of $2.13 billion, a P/E ratio of 14.16, a PEG ratio of 0.77 and a beta of 2.46. Brinker International, Inc. has a 52-week low of $28.23 and a 52-week high of $51.72.

Brinker International (NYSE:EAT) last posted its quarterly earnings data on Wednesday, January 31st. The restaurant operator reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.05. Brinker International had a net margin of 3.63% and a negative return on equity of 113.41%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.08 billion. As a group, sell-side analysts forecast that Brinker International, Inc. will post 3.71 earnings per share 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.