Wedge Capital Management L L P NC Sells 125,565 Shares of Brinker International, Inc. (NYSE:EAT)

Wedge Capital Management L L P NC lessened its holdings in Brinker International, Inc. (NYSE:EAT) by 30.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 290,479 shares of the restaurant operator’s stock after selling 125,565 shares during the period. Brinker International accounts for 0.8% of Wedge Capital Management L L P NC’s holdings, making the stock its 28th biggest position. Wedge Capital Management L L P NC owned about 0.65% of Brinker International worth $43,296,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of EAT. Coppell Advisory Solutions LLC bought a new position in shares of Brinker International during the fourth quarter worth approximately $26,000. Financial Management Professionals Inc. bought a new position in shares of Brinker International in the 1st quarter valued at $30,000. Quarry LP bought a new stake in shares of Brinker International during the 4th quarter valued at approximately $48,000. Kapitalo Investimentos Ltda bought a new stake in shares of Brinker International during the fourth quarter worth $105,000. Finally, SBI Securities Co. Ltd. bought a new stake in Brinker International during the 4th quarter worth $126,000.

Analyst Ratings Changes

A number of equities research analysts have weighed in on EAT shares. Wells Fargo & Company reduced their target price on shares of Brinker International from $165.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 30th. Barclays cut their target price on Brinker International from $165.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 30th. Finally, Citigroup cut their price objective on shares of Brinker International from $185.00 to $170.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $141.14.

Brinker International Stock Up 1.4%

EAT opened at $171.67 on Friday. Brinker International, Inc. has a fifty-two week low of $56.27 and a fifty-two week high of $192.22. The company’s 50-day moving average is $149.97 and its 200 day moving average is $147.50. 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 $7.63 billion, a P/E ratio of 29.75, a PEG ratio of 0.49 and a beta of 1.71.

Brinker International (NYSE:EAT) last released its earnings results on Tuesday, April 29th. The restaurant operator reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.18. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Brinker International had a return on equity of 879.47% and a net margin of 5.45%. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.24 EPS. Research analysts expect that Brinker International, Inc. will post 8.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Brinker International

In other Brinker International news, Director Ramona Hood sold 777 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $135.23, for a total transaction of $105,073.71. Following the sale, the director now owns 8,568 shares of the company’s stock, valued at $1,158,650.64. The trade was a 8.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Douglas N. Comings sold 2,350 shares of the business’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $135.91, for a total value of $319,388.50. Following the sale, the chief operating officer now owns 20,591 shares in the company, valued at approximately $2,798,522.81. The trade was a 10.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.72% of the company’s stock.

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.