PDT Partners LLC Sells 29,200 Shares of Brinker International, Inc. (NYSE:EAT)

PDT Partners LLC cut its stake in Brinker International, Inc. (NYSE:EAT) by 52.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,865 shares of the restaurant operator’s stock after selling 29,200 shares during the period. PDT Partners LLC owned about 0.06% of Brinker International worth $2,056,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of EAT. Price T Rowe Associates Inc. MD raised its stake in Brinker International by 5.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 33,253 shares of the restaurant operator’s stock worth $1,653,000 after acquiring an additional 1,588 shares in the last quarter. Comerica Bank grew its holdings in shares of Brinker International by 26.5% in the 1st quarter. Comerica Bank now owns 31,284 shares of the restaurant operator’s stock worth $1,554,000 after purchasing an additional 6,553 shares during the last quarter. Burney Co. grew its holdings in shares of Brinker International by 9.0% in the 1st quarter. Burney Co. now owns 8,690 shares of the restaurant operator’s stock worth $432,000 after purchasing an additional 720 shares during the last quarter. Cetera Advisors LLC acquired a new stake in shares of Brinker International during the 1st quarter worth about $714,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in Brinker International by 90.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 20,751 shares of the restaurant operator’s stock valued at $1,502,000 after purchasing an additional 9,854 shares during the last quarter.

Brinker International Price Performance

EAT opened at $132.27 on Friday. The company has a fifty day moving average price of $100.93 and a two-hundred day moving average price of $79.60. The firm has a market capitalization of $5.88 billion, a PE ratio of 32.26, a P/E/G ratio of 1.44 and a beta of 2.46. Brinker International, Inc. has a 52 week low of $35.60 and a 52 week high of $133.82. The company has a debt-to-equity ratio of 63.54, a quick ratio of 0.26 and a current ratio of 0.32.

Brinker International (NYSE:EAT) last announced its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.26. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the firm earned $0.28 earnings per share. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, analysts anticipate that Brinker International, Inc. will post 5.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EAT. Argus cut shares of Brinker International from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. BMO Capital Markets lowered Brinker International from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $80.00 to $105.00 in a research report on Thursday, October 31st. Wedbush reiterated a “neutral” rating and issued a $68.00 price objective on shares of Brinker International in a research report on Thursday, August 15th. Barclays increased their target price on Brinker International from $76.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus lifted their price target on Brinker International from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday, November 4th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Brinker International has a consensus rating of “Hold” and a consensus target price of $86.45.

Insider Activity

In related news, CFO Michaela M. Ware sold 3,753 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $103.02, for a total transaction of $386,634.06. Following the completion of the transaction, the chief financial officer now owns 23,071 shares in the company, valued at approximately $2,376,774.42. The trade was a 13.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.72% of the stock is currently owned by company insiders.

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.