LGT Fund Management Co Ltd. Invests $2.44 Million in Brinker International, Inc. (NYSE:EAT)

LGT Fund Management Co Ltd. acquired a new position in shares of Brinker International, Inc. (NYSE:EAT) in the 1st quarter, HoldingsChannel reports. The firm acquired 16,400 shares of the restaurant operator’s stock, valued at approximately $2,444,000.

Other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in shares of Brinker International by 575.0% during the first quarter. Farther Finance Advisors LLC now owns 189 shares of the restaurant operator’s stock worth $29,000 after buying an additional 161 shares in the last quarter. Coppell Advisory Solutions LLC bought a new stake in shares of Brinker International during the fourth quarter valued at approximately $26,000. Financial Management Professionals Inc. bought a new stake in shares of Brinker International during the first quarter valued at approximately $30,000. National Bank of Canada FI grew its stake in shares of Brinker International by 227.3% during the first quarter. National Bank of Canada FI now owns 252 shares of the restaurant operator’s stock valued at $38,000 after purchasing an additional 175 shares during the last quarter. Finally, Continuum Advisory LLC grew its stake in shares of Brinker International by 1,714.3% during the first quarter. Continuum Advisory LLC now owns 254 shares of the restaurant operator’s stock valued at $38,000 after purchasing an additional 240 shares during the last quarter.

Insider Activity at Brinker International

In related news, Director Joseph Michael Depinto sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $170.36, for a total transaction of $1,703,600.00. Following the sale, the director directly owned 99,297 shares in the company, valued at $16,916,236.92. This trade represents a 9.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.72% of the stock is currently owned by insiders.

Brinker International Trading Up 0.3%

Shares of NYSE:EAT opened at $152.41 on Tuesday. Brinker International, Inc. has a 12 month low of $58.85 and a 12 month high of $192.21. The company has a quick ratio of 0.23, a current ratio of 0.28 and a debt-to-equity ratio of 2.00. The company’s fifty day simple moving average is $169.15 and its 200 day simple moving average is $158.38. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 0.36 and a beta of 1.68.

Analyst Ratings Changes

Several analysts have recently commented on EAT shares. Barclays increased their price target on shares of Brinker International from $155.00 to $166.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. Wells Fargo & Company increased their price target on shares of Brinker International from $150.00 to $165.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. Stifel Nicolaus raised their price objective on shares of Brinker International from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, June 23rd. Morgan Stanley raised their price objective on shares of Brinker International from $144.00 to $149.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Brinker International from $160.00 to $180.00 and gave the company a “neutral” rating in a research note on Wednesday, June 25th. Thirteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $156.41.

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.