Fisher Asset Management LLC Raises Position in Brinker International, Inc. (NYSE:EAT)

Fisher Asset Management LLC increased its holdings in shares of Brinker International, Inc. (NYSE:EAT) by 4.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 691,230 shares of the restaurant operator’s stock after purchasing an additional 28,373 shares during the period. Fisher Asset Management LLC’s holdings in Brinker International were worth $52,900,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in EAT. Russell Investments Group Ltd. increased its holdings in shares of Brinker International by 5.4% during the first quarter. Russell Investments Group Ltd. now owns 20,640 shares of the restaurant operator’s stock valued at $1,025,000 after acquiring an additional 1,049 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Brinker International by 2.5% during the first quarter. Vanguard Group Inc. now owns 5,535,500 shares of the restaurant operator’s stock worth $275,004,000 after buying an additional 135,580 shares during the period. O Shaughnessy Asset Management LLC purchased a new stake in shares of Brinker International during the first quarter valued at $226,000. CANADA LIFE ASSURANCE Co increased its position in shares of Brinker International by 6.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 38,127 shares of the restaurant operator’s stock valued at $1,893,000 after acquiring an additional 2,341 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in Brinker International by 27.4% in the 1st quarter. Advisors Asset Management Inc. now owns 4,556 shares of the restaurant operator’s stock worth $226,000 after acquiring an additional 981 shares during the last quarter.

Insider Buying and Selling

In other Brinker International news, CFO Michaela M. Ware sold 3,753 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $103.02, for a total transaction of $386,634.06. Following the sale, the chief financial officer now directly owns 23,071 shares of the company’s stock, valued at $2,376,774.42. This trade represents a 13.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on EAT. Bank of America boosted their price target on Brinker International from $97.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Evercore ISI increased their price target on shares of Brinker International from $69.00 to $90.00 and gave the stock an “in-line” rating in a report on Tuesday, October 15th. Stifel Nicolaus lifted their price objective on shares of Brinker International from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. downgraded shares of Brinker International from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $67.00 to $100.00 in a report on Thursday, October 31st. Finally, Wells Fargo & Company raised their target price on shares of Brinker International from $85.00 to $95.00 and gave the stock an “underweight” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $86.45.

Brinker International Stock Down 0.3 %

EAT stock opened at $130.62 on Wednesday. The company has a current ratio of 0.32, a quick ratio of 0.26 and a debt-to-equity ratio of 63.54. The company has a market cap of $5.80 billion, a P/E ratio of 31.86, a P/E/G ratio of 1.39 and a beta of 2.46. The company’s 50-day moving average price is $96.52 and its 200 day moving average price is $77.87. Brinker International, Inc. has a 52 week low of $34.77 and a 52 week high of $131.46.

Brinker International (NYSE:EAT) last announced its earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.26. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the firm earned $0.28 EPS. Brinker International’s quarterly revenue was up 12.5% on a year-over-year basis. On average, research analysts expect that Brinker International, Inc. will post 5.52 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.