Geode Capital Management LLC Has $193.62 Million Position in Brinker International, Inc. $EAT

Geode Capital Management LLC lifted its stake in Brinker International, Inc. (NYSE:EAT) by 1.3% during the second quarter, HoldingsChannel reports. The fund owned 1,071,523 shares of the restaurant operator’s stock after purchasing an additional 14,033 shares during the quarter. Geode Capital Management LLC’s holdings in Brinker International were worth $193,619,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC grew its stake in Brinker International by 36.9% in the first quarter. CWM LLC now owns 1,210 shares of the restaurant operator’s stock valued at $180,000 after purchasing an additional 326 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Brinker International by 28.0% during the 1st quarter. Victory Capital Management Inc. now owns 25,581 shares of the restaurant operator’s stock valued at $3,813,000 after buying an additional 5,598 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in shares of Brinker International in the 1st quarter valued at approximately $509,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Brinker International in the first quarter worth approximately $2,659,000. Finally, KLP Kapitalforvaltning AS raised its position in Brinker International by 3.4% during the first quarter. KLP Kapitalforvaltning AS now owns 9,200 shares of the restaurant operator’s stock valued at $1,371,000 after acquiring an additional 300 shares in the last quarter.

Insiders Place Their Bets

In other Brinker International news, COO Douglas N. Comings sold 16,000 shares of the firm’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $156.48, for a total value of $2,503,680.00. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kevin Hochman sold 44,000 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $157.82, for a total transaction of $6,944,080.00. Following the transaction, the chief executive officer owned 212,867 shares in the company, valued at approximately $33,594,669.94. The trade was a 17.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on EAT shares. Stifel Nicolaus decreased their target price on shares of Brinker International from $215.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Citigroup reduced their price objective on shares of Brinker International from $156.00 to $144.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. The Goldman Sachs Group lowered their target price on shares of Brinker International from $207.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, September 30th. Morgan Stanley reduced their price target on Brinker International from $161.00 to $160.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 22nd. Finally, Evercore ISI upgraded Brinker International from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $190.00 to $210.00 in a research note on Thursday, September 4th. 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.67.

Brinker International Trading Up 7.0%

Brinker International stock opened at $121.12 on Tuesday. Brinker International, Inc. has a 52 week low of $100.30 and a 52 week high of $192.21. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.25 and a current ratio of 0.35. The firm has a market capitalization of $5.38 billion, a PE ratio of 12.56, a PEG ratio of 0.77 and a beta of 1.38. The business’s 50-day simple moving average is $127.09 and its 200-day simple moving average is $149.55.

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

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.