C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Makes New Investment in Brinker International, Inc. (NYSE:EAT)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Brinker International, Inc. (NYSE:EAT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,279 shares of the restaurant operator’s stock, valued at approximately $434,000.

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

Brinker International Stock Performance

Shares of EAT opened at $161.64 on Thursday. The business has a 50-day simple moving average of $150.04 and a two-hundred day simple moving average of $111.94. 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 $43.37 and a 52 week high of $192.21. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 0.51 and a beta of 2.54.

Brinker International (NYSE:EAT) last released its earnings results 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 net margin of 5.45% and a return on equity of 879.47%. On average, analysts expect that Brinker International, Inc. will post 8.3 EPS for the current year.

Insider Transactions at Brinker International

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Brinker International from $145.00 to $175.00 and gave the stock an “equal weight” 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. BMO Capital Markets boosted their price objective 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. Wedbush increased their target price on shares of Brinker International from $140.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, Piper Sandler boosted their price target on shares of Brinker International from $62.00 to $97.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Brinker International currently has an average rating of “Hold” and an average target price of $140.18.

Brinker International Company 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.