Brinker International, Inc. $EAT Shares Newly Acquired by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board purchased a new position in Brinker International, Inc. (NYSE:EAT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,000 shares of the restaurant operator’s stock, valued at approximately $1,742,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EAT. BlackRock Inc. grew its stake in Brinker International by 2.2% during the 2nd quarter. BlackRock Inc. now owns 6,729,477 shares of the restaurant operator’s stock valued at $1,130,552,000 after acquiring an additional 145,525 shares in the last quarter. State Street Corp lifted its stake in Brinker International by 3.5% in the 2nd quarter. State Street Corp now owns 1,748,760 shares of the restaurant operator’s stock worth $293,786,000 after purchasing an additional 59,120 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Brinker International by 0.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,170,612 shares of the restaurant operator’s stock worth $167,128,000 after purchasing an additional 9,692 shares during the last quarter. Freestone Grove Partners LP acquired a new position in shares of Brinker International during the 2nd quarter worth approximately $91,237,000. Finally, Wellington Management Group LLP boosted its holdings in shares of Brinker International by 63.7% during the 2nd quarter. Wellington Management Group LLP now owns 413,472 shares of the restaurant operator’s stock worth $69,463,000 after purchasing an additional 160,939 shares during the last quarter.

Insider Buying and Selling at Brinker International

In related news, Director Joseph DePinto sold 25,000 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $230.39, for a total value of $5,759,750.00. Following the sale, the director directly owned 77,812 shares in the company, valued at approximately $17,927,106.68. The trade was a 24.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James M. Butler sold 10,000 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $240.37, for a total transaction of $2,403,700.00. Following the completion of the transaction, the senior vice president directly owned 9,064 shares in the company, valued at $2,178,713.68. The trade was a 52.45% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 167,955 shares of company stock worth $39,335,764. Insiders own 1.18% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. UBS Group increased their price target on Brinker International from $190.00 to $260.00 and gave the company a “buy” rating in a report on Monday, August 10th. Stephens reiterated an “overweight” rating and set a $300.00 price objective on shares of Brinker International in a research report on Thursday, October 29th. Mizuho boosted their price objective on Brinker International from $175.00 to $275.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. Piper Sandler upped their target price on Brinker International from $166.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, August 17th. Finally, Morgan Stanley raised their target price on Brinker International from $260.00 to $262.00 and gave the stock an “overweight” rating in a research note on Thursday, October 29th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Brinker International has an average rating of “Moderate Buy” and a consensus target price of $249.80.

Brinker International Trading Up 2.7%

EAT opened at $200.37 on Thursday. Brinker International, Inc. has a one year low of $105.51 and a one year high of $254.99. The stock has a market capitalization of $8.32 billion, a PE ratio of 17.64, a P/E/G ratio of 0.98 and a beta of 1.37. The business’s 50 day moving average price is $204.29 and its 200 day moving average price is $176.36. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.29 and a current ratio of 0.34.

Brinker International (NYSE:EAT) last posted its earnings results on Wednesday, October 28th. The restaurant operator reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.32. Brinker International had a return on equity of 125.65% and a net margin of 8.44%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the firm earned $2.17 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts expect that Brinker International, Inc. will post 13.70 EPS for the current year.

Brinker International Profile

Brinker International, Inc. is a casual-dining restaurant company based in Dallas, Texas. It owns, operates and franchises restaurants under the Chili’s Grill & Bar and Maggiano’s Little Italy brands. Chili’s serves a broad menu of American and Tex-Mex-inspired dishes, including burgers, ribs and fajitas. Maggiano’s specializes in Italian-American cuisine, with dishes such as pasta and other classic entrées. The company traces its roots to 1975, when founder Norman Brinker opened the first Chili’s restaurant in Dallas.