Convergence Investment Partners LLC Sells 916 Shares of Brinker International, Inc. $EAT

Convergence Investment Partners LLC reduced its stake in Brinker International, Inc. (NYSE:EAT) by 17.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,273 shares of the restaurant operator’s stock after selling 916 shares during the period. Convergence Investment Partners LLC’s holdings in Brinker International were worth $771,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of EAT. Alyeska Investment Group L.P. bought a new stake in shares of Brinker International in the 1st quarter valued at approximately $76,114,000. Westfield Capital Management Co. LP grew its stake in shares of Brinker International by 102.0% in the 1st quarter. Westfield Capital Management Co. LP now owns 995,713 shares of the restaurant operator’s stock valued at $148,411,000 after purchasing an additional 502,897 shares during the period. Nuveen LLC bought a new stake in shares of Brinker International in the 1st quarter valued at approximately $55,808,000. Samlyn Capital LLC bought a new stake in shares of Brinker International in the 1st quarter valued at approximately $44,557,000. Finally, Allianz Asset Management GmbH grew its stake in shares of Brinker International by 5,312.1% in the 2nd quarter. Allianz Asset Management GmbH now owns 184,933 shares of the restaurant operator’s stock valued at $33,349,000 after purchasing an additional 181,516 shares during the period.

Brinker International Stock Down 0.6%

NYSE:EAT opened at $126.55 on Tuesday. The stock’s fifty day moving average price is $140.77 and its two-hundred day moving average price is $153.65. Brinker International, Inc. has a 52-week low of $95.60 and a 52-week high of $192.21. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.25 and a current ratio of 0.31. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 0.84 and a beta of 1.38.

Brinker International (NYSE:EAT) last posted its quarterly earnings data on Wednesday, August 13th. The restaurant operator reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.02. Brinker International had a return on equity of 211.86% and a net margin of 7.12%.The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the business earned $1.61 EPS. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. Brinker International has set its FY 2026 guidance at 9.900-10.50 EPS. On average, analysts anticipate that Brinker International, Inc. will post 8.3 EPS for the current year.

Wall Street Analysts Forecast Growth

EAT has been the topic of several analyst reports. Stifel Nicolaus lowered their price objective on Brinker International from $215.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday. Citigroup decreased their price target on Brinker International from $168.00 to $156.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Bank of America upgraded Brinker International from a “neutral” rating to a “buy” rating and increased their price target for the stock from $190.00 to $192.00 in a research report on Monday, October 6th. UBS Group decreased their price target on Brinker International from $165.00 to $144.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Piper Sandler increased their price target on Brinker International from $155.00 to $168.00 and gave the stock a “neutral” rating in a research report on Thursday, August 14th. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $165.61.

Insiders Place Their Bets

In other Brinker International news, CEO Kevin Hochman sold 44,000 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $157.82, for a total transaction of $6,944,080.00. Following the transaction, the chief executive officer owned 212,867 shares of the company’s stock, valued at approximately $33,594,669.94. This represents a 17.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harriet Edelman sold 8,325 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $157.00, for a total value of $1,307,025.00. Following the completion of the transaction, the director directly owned 28,905 shares in the company, valued at approximately $4,538,085. This trade represents a 22.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,325 shares of company stock valued at $10,754,785. 1.43% of the stock is currently owned by corporate insiders.

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.