Fortis Group Advisors LLC Takes Position in Brinker International, Inc. (NYSE:EAT)

Fortis Group Advisors LLC bought a new stake in Brinker International, Inc. (NYSE:EAT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,629 shares of the restaurant operator’s stock, valued at approximately $407,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Brinker International by 19.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,008 shares of the restaurant operator’s stock worth $605,000 after purchasing an additional 2,239 shares in the last quarter. Mach 1 Financial Group LLC acquired a new position in Brinker International in the 4th quarter valued at approximately $517,000. Victory Capital Management Inc. increased its position in Brinker International by 1.3% in the 4th quarter. Victory Capital Management Inc. now owns 17,318 shares of the restaurant operator’s stock valued at $748,000 after acquiring an additional 230 shares during the period. Charles Schwab Investment Management Inc. increased its position in Brinker International by 9.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 632,484 shares of the restaurant operator’s stock valued at $27,311,000 after acquiring an additional 53,657 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in Brinker International in the 4th quarter valued at approximately $3,254,000.

Insider Activity

In related news, COO Douglas N. Comings sold 2,953 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $72.97, for a total transaction of $215,480.41. Following the completion of the sale, the chief operating officer now owns 38,164 shares in the company, valued at $2,784,827.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is currently owned by corporate insiders.

Brinker International Price Performance

Shares of EAT stock traded up $1.32 on Friday, hitting $71.52. The stock had a trading volume of 1,248,738 shares, compared to its average volume of 1,495,546. The business has a 50 day moving average of $67.49 and a 200 day moving average of $58.95. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 0.63 and a beta of 2.52. Brinker International, Inc. has a 12-month low of $28.23 and a 12-month high of $76.02.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on EAT. JPMorgan Chase & Co. upped their price target on shares of Brinker International from $48.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. Morgan Stanley upped their price target on shares of Brinker International from $42.00 to $50.00 and gave the company an “underweight” rating in a research report on Tuesday, July 16th. Barclays upped their price target on shares of Brinker International from $53.00 to $66.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. KeyCorp raised shares of Brinker International from a “sector weight” rating to an “overweight” rating and set a $72.00 price objective on the stock in a research note on Thursday, August 15th. Finally, BMO Capital Markets reduced their price objective on shares of Brinker International from $85.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $61.85.

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.