California State Teachers Retirement System reduced its stake in Brinker International, Inc. (NYSE:EAT – Free Report) by 5.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,176 shares of the restaurant operator after selling 2,420 shares during the quarter. California State Teachers Retirement System owned 0.10% of Brinker International worth $2,195,000, according to its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new position in shares of Brinker International in the 1st quarter valued at about $25,000. TFO Wealth Partners LLC increased its holdings in Brinker International by 64,800.0% in the fourth quarter. TFO Wealth Partners LLC now owns 649 shares of the restaurant operator’s stock valued at $28,000 after acquiring an additional 648 shares during the period. Parkside Financial Bank & Trust increased its holdings in Brinker International by 3,611.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 668 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 650 shares during the period. Headlands Technologies LLC acquired a new position in Brinker International in the first quarter valued at $47,000. Finally, Hollencrest Capital Management acquired a new position in Brinker International during the first quarter valued at $50,000.
Insiders place their bets
In other Brinker International news, SVP Daniel S. Fuller sold 3,611 shares of Brinker International stock in a transaction that occurred on Thursday, May 30. The shares were sold at an average price of $69.04, for a total transaction of $249,303.44. Following the transaction, the senior vice president now owns 34,764 shares of the company’s stock, valued at approximately $2,400,106.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Joseph G. Taylor sold 40,050 shares of the company’s stock in a transaction that occurred on Monday, May 13. The shares were sold at an average price of $60.45, for a total value of $2,421,022.50. Following the completion of the sale, the chief financial officer now directly owns 66,286 shares of the company’s stock, valued at approximately $4,006,988.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC’s website. Also, SVP Daniel S. Fuller sold 3,611 shares of the company’s stock in a transaction that occurred on Thursday, May 30. The shares were sold at an average price of $69.04, for a total value of $249,303.44. Following the completion of the sale, the senior vice president now owns 34,764 shares of the company’s stock, valued at $2,400,106.56. The disclosure regarding this sale can be found here. In the last three months, insiders have sold 57,714 shares of the company’s stock, valued at $3,637,623. 1.50% of the shares are owned by company insiders.
Upgrades and downgrades by analysts
EAT has been the subject of several analyst reports. Evercore ISI raised their price target on shares of Brinker International from $53.00 to $65.00 and gave the company an “in-line” rating in a research report on Wednesday, May 22nd. UBS Group raised their price target on shares of Brinker International from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Jefferies Financial Group raised their price target on shares of Brinker International from $47.00 to $48.00 and gave the stock a “hold” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. raised their price target on shares of Brinker International from $48.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Finally, Bank of America raised their price target on shares of Brinker International from $51.00 to $58.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17. Two investment analysts have rated the stock with a “sell,” nine have given a “hold” rating and six have given a “buy” rating. According to data from MarketBeat, Brinker International currently has a consensus rating of “Hold” and an average price target of $57.34.
Check out our latest stock analysis on Brinker International
Price development of Brinker International shares
EAT stock opened at $66.64 on Friday. Brinker International, Inc. has a 1-year low of $28.23 and a 1-year high of $76.02. The stock’s 50-day moving average is $67.69 and its 200-day moving average is $56.23. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 0.63 and a beta of 2.52.
About Brinker International
(Free report)
Brinker International, Inc., together with its subsidiaries, owns, develops, operates and franchises casual dining restaurants in the United States and internationally. The company operates and franchises the Chili’s Grill & Bar and Maggiano’s Little Italy restaurant brands.
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