Point72 DIFC Ltd Takes Position in Brinker International, Inc. (NYSE:EAT)

Point72 DIFC Ltd bought a new position in shares of Brinker International, Inc. (NYSE:EAT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 5,222 shares of the restaurant operator’s stock, valued at approximately $400,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EAT. Cetera Advisors LLC acquired a new stake in shares of Brinker International during the first quarter worth about $714,000. Empowered Funds LLC acquired a new stake in Brinker International during the 3rd quarter worth approximately $5,330,000. Intech Investment Management LLC boosted its position in Brinker International by 399.9% in the 3rd quarter. Intech Investment Management LLC now owns 24,102 shares of the restaurant operator’s stock valued at $1,845,000 after buying an additional 19,281 shares during the period. Qsemble Capital Management LP acquired a new position in shares of Brinker International in the third quarter worth $941,000. Finally, Principal Financial Group Inc. increased its position in shares of Brinker International by 23.5% during the third quarter. Principal Financial Group Inc. now owns 272,822 shares of the restaurant operator’s stock worth $20,879,000 after acquiring an additional 51,927 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. UBS Group lifted their target price on Brinker International from $70.00 to $94.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Evercore ISI upped their target price on shares of Brinker International from $69.00 to $90.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 15th. Wedbush reiterated a “neutral” rating and issued a $68.00 price target on shares of Brinker International in a research note on Thursday, August 15th. The Goldman Sachs Group began coverage on shares of Brinker International in a report on Thursday. They set a “buy” rating and a $150.00 price target for the company. Finally, Argus lowered shares of Brinker International from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Brinker International presently has an average rating of “Hold” and an average price target of $89.63.

Insider Activity

In other news, CFO Michaela M. Ware sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $103.02, for a total value of $386,634.06. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.72% of the company’s stock.

Brinker International Stock Performance

NYSE EAT opened at $129.90 on Friday. The business’s 50-day moving average price is $106.24 and its 200 day moving average price is $81.92. The company has a quick ratio of 0.26, a current ratio of 0.32 and a debt-to-equity ratio of 63.54. The firm has a market cap of $5.77 billion, a P/E ratio of 31.68, a P/E/G ratio of 1.43 and a beta of 2.51. Brinker International, Inc. has a 52-week low of $37.25 and a 52-week high of $133.82.

Brinker International (NYSE:EAT) last released its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the business earned $0.28 earnings per share. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, equities research analysts expect that Brinker International, Inc. will post 5.52 earnings per share for the current year.

About Brinker International

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.