Easterly Investment Partners LLC Decreases Stock Position in Brinker International, Inc. (NYSE:EAT)

Easterly Investment Partners LLC lessened its holdings in Brinker International, Inc. (NYSE:EAT) by 44.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,761 shares of the restaurant operator’s stock after selling 33,050 shares during the quarter. Easterly Investment Partners LLC’s holdings in Brinker International were worth $3,023,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. CWM LLC grew its position in Brinker International by 96.2% in the 2nd quarter. CWM LLC now owns 416 shares of the restaurant operator’s stock valued at $30,000 after acquiring an additional 204 shares during the last quarter. Transcendent Capital Group LLC bought a new position in Brinker International in the 1st quarter valued at $25,000. TFO Wealth Partners LLC grew its position in shares of Brinker International by 64,800.0% during the 4th quarter. TFO Wealth Partners LLC now owns 649 shares of the restaurant operator’s stock worth $28,000 after buying an additional 648 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of Brinker International by 3,611.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 668 shares of the restaurant operator’s stock worth $29,000 after buying an additional 650 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Brinker International during the 1st quarter worth $47,000.

Insider Buying and Selling

In related news, COO Douglas N. Comings sold 10,000 shares of Brinker International stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $68.31, for a total transaction of $683,100.00. Following the transaction, the chief operating officer now owns 38,164 shares in the company, valued at $2,606,982.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Brinker International news, COO Douglas N. Comings sold 10,000 shares of Brinker International stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $68.31, for a total value of $683,100.00. Following the sale, the chief operating officer now owns 38,164 shares in the company, valued at $2,606,982.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Douglas N. Comings sold 2,953 shares of Brinker International stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $72.97, for a total value of $215,480.41. Following the completion of the sale, the chief operating officer now owns 38,164 shares in the company, valued at approximately $2,784,827.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,564 shares of company stock worth $1,147,884. 1.50% of the stock is owned by corporate insiders.

Brinker International Stock Performance

Shares of NYSE:EAT traded up $2.55 during trading on Friday, reaching $71.13. The stock had a trading volume of 1,500,308 shares, compared to its average volume of 1,507,760. The business has a fifty day moving average price of $67.35 and a 200-day moving average price of $58.14. The stock has a market cap of $3.16 billion, a PE ratio of 21.11, a PEG ratio of 0.63 and a beta of 2.52. Brinker International, Inc. has a 1-year low of $28.23 and a 1-year high of $76.02.

Brinker International (NYSE:EAT) last issued its quarterly earnings results on Wednesday, August 14th. The restaurant operator reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). Brinker International had a negative return on equity of 154.29% and a net margin of 3.55%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm earned $1.39 earnings per share. The business’s revenue was up 12.3% on a year-over-year basis. Sell-side analysts expect that Brinker International, Inc. will post 4.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EAT. Barclays increased their price target on Brinker International from $53.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. BMO Capital Markets decreased their price target on Brinker International from $85.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th. Raymond James cut Brinker International from a “strong-buy” rating to an “outperform” rating and raised their price objective for the stock from $62.00 to $82.50 in a research note on Monday, July 8th. Stifel Nicolaus raised their price objective on Brinker International from $62.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Finally, Morgan Stanley raised their price objective on Brinker International from $42.00 to $50.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $61.85.

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.