Renaissance Technologies LLC Decreases Position in Brinker International, Inc. (NYSE:EAT)

Renaissance Technologies LLC lowered its stake in shares of Brinker International, Inc. (NYSE:EAT) by 10.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 657,265 shares of the restaurant operator’s stock after selling 75,535 shares during the quarter. Renaissance Technologies LLC owned 1.48% of Brinker International worth $86,950,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of EAT. Shelton Capital Management purchased a new stake in Brinker International during the 4th quarter worth about $230,000. Invesco Ltd. grew its position in shares of Brinker International by 14.6% during the fourth quarter. Invesco Ltd. now owns 489,723 shares of the restaurant operator’s stock worth $64,785,000 after buying an additional 62,265 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Brinker International by 12.1% during the fourth quarter. Bank of Montreal Can now owns 72,114 shares of the restaurant operator’s stock worth $9,540,000 after buying an additional 7,791 shares during the period. Sierra Summit Advisors LLC acquired a new stake in Brinker International in the fourth quarter valued at approximately $555,000. Finally, Russell Investments Group Ltd. lifted its stake in Brinker International by 15.1% in the fourth quarter. Russell Investments Group Ltd. now owns 71,812 shares of the restaurant operator’s stock worth $9,500,000 after acquiring an additional 9,444 shares during the last quarter.

Brinker International Stock Down 4.0 %

Brinker International stock opened at $131.14 on Wednesday. The stock has a 50 day moving average of $154.40 and a two-hundred day moving average of $130.85. Brinker International, Inc. has a twelve month low of $43.37 and a twelve month high of $192.22. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 0.49 and a beta of 2.21. The company has a current ratio of 0.33, a quick ratio of 0.27 and a debt-to-equity ratio of 4.96.

Brinker International (NYSE:EAT) last issued its quarterly earnings results on Wednesday, January 29th. The restaurant operator reported $2.80 earnings per share for the quarter, topping the consensus estimate of $1.37 by $1.43. Brinker International had a return on equity of 879.47% and a net margin of 5.45%. As a group, research analysts expect that Brinker International, Inc. will post 8.3 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Cindy L. Davis sold 5,802 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $187.86, for a total transaction of $1,089,963.72. Following the transaction, the director now owns 11,107 shares of the company’s stock, valued at $2,086,561.02. This represents a 34.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Douglas N. Comings sold 7,500 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $167.10, for a total value of $1,253,250.00. Following the completion of the transaction, the chief operating officer now owns 26,752 shares of the company’s stock, valued at $4,470,259.20. The trade was a 21.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,802 shares of company stock valued at $3,752,464 over the last ninety days. Corporate insiders own 1.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on EAT shares. BMO Capital Markets increased their price objective on shares of Brinker International from $105.00 to $125.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. UBS Group lifted their price target on Brinker International from $108.00 to $146.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Stifel Nicolaus increased their price objective on Brinker International from $155.00 to $170.00 and gave the company a “buy” rating in a report on Monday, January 27th. Barclays boosted their target price on Brinker International from $150.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company increased their price target on shares of Brinker International from $145.00 to $175.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $140.18.

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.