Sierra Summit Advisors LLC Sells 693 Shares of Brinker International, Inc. $EAT

Sierra Summit Advisors LLC decreased its position in Brinker International, Inc. (NYSE:EAT) by 14.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,229 shares of the restaurant operator’s stock after selling 693 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Brinker International were worth $763,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alberta Investment Management Corp bought a new stake in Brinker International during the second quarter worth about $4,112,000. Axiom Investors LLC DE purchased a new position in shares of Brinker International during the first quarter valued at approximately $8,079,000. DAVENPORT & Co LLC lifted its holdings in shares of Brinker International by 117.0% during the second quarter. DAVENPORT & Co LLC now owns 4,272 shares of the restaurant operator’s stock valued at $770,000 after purchasing an additional 2,303 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of Brinker International by 13.4% in the 1st quarter. Voya Investment Management LLC now owns 16,513 shares of the restaurant operator’s stock worth $2,461,000 after purchasing an additional 1,956 shares in the last quarter. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Brinker International in the 2nd quarter worth approximately $1,822,000.

Analyst Ratings Changes

A number of brokerages have issued reports on EAT. Barclays lowered their price objective on Brinker International from $145.00 to $135.00 and set an “equal weight” rating for the company in a research note on Thursday, October 30th. Wall Street Zen lowered Brinker International from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. The Goldman Sachs Group dropped their price target on shares of Brinker International from $207.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, September 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Brinker International in a report on Thursday, October 30th. Finally, Piper Sandler upped their target price on shares of Brinker International from $155.00 to $168.00 and gave the stock a “neutral” rating in a research note on Thursday, August 14th. Ten analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $165.67.

Insider Activity at Brinker International

In other news, CEO Kevin Hochman sold 44,000 shares of Brinker International stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $157.82, for a total transaction of $6,944,080.00. Following the sale, the chief executive officer owned 212,867 shares in the company, valued at $33,594,669.94. This trade represents a 17.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Douglas N. Comings sold 16,000 shares of the business’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $156.48, for a total transaction of $2,503,680.00. Following the completion of the transaction, the chief operating officer directly owned 12,951 shares in the company, valued at $2,026,572.48. This trade represents a 55.27% decrease in their position. The SEC filing for this sale provides additional information. 1.43% of the stock is currently owned by company insiders.

Brinker International Trading Up 6.3%

Shares of NYSE:EAT opened at $135.15 on Friday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.25 and a current ratio of 0.35. Brinker International, Inc. has a 52-week low of $100.30 and a 52-week high of $192.21. The stock’s 50-day simple moving average is $124.88 and its two-hundred day simple moving average is $149.33. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.77 and a beta of 1.38.

Brinker International (NYSE:EAT) last issued its earnings results on Wednesday, October 29th. The restaurant operator reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.17. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. Brinker International had a net margin of 7.94% and a return on equity of 164.66%. Brinker International’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.95 EPS. Brinker International has set its FY 2026 guidance at 9.900-10.50 EPS. Analysts expect that Brinker International, Inc. will post 8.3 EPS for the current year.

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.