C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Buys New Stake in Brinker International, Inc. (NYSE:EAT)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Brinker International, Inc. (NYSE:EAT) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 3,279 shares of the restaurant operator’s stock, valued at approximately $434,000.

Several other hedge funds have also bought and sold shares of the stock. Hennessy Advisors Inc. bought a new stake in shares of Brinker International in the fourth quarter worth about $81,888,000. Assenagon Asset Management S.A. grew its holdings in Brinker International by 2,612.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 588,594 shares of the restaurant operator’s stock valued at $77,865,000 after buying an additional 566,894 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in Brinker International by 1,145.2% in the 4th quarter. Wedge Capital Management L L P NC now owns 416,044 shares of the restaurant operator’s stock worth $55,038,000 after acquiring an additional 382,633 shares during the last quarter. Wellington Management Group LLP increased its stake in Brinker International by 55.1% in the 3rd quarter. Wellington Management Group LLP now owns 618,728 shares of the restaurant operator’s stock worth $47,351,000 after acquiring an additional 219,836 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Brinker International during the 3rd quarter worth approximately $14,611,000.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. KeyCorp cut shares of Brinker International from an “overweight” rating to a “sector weight” rating and set a $115.00 price target on the stock. in a research report on Friday, January 24th. Stifel Nicolaus upped their target price on shares of Brinker International from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Barclays increased their price target on shares of Brinker International from $150.00 to $190.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Piper Sandler upped their price objective on Brinker International from $62.00 to $97.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, UBS Group raised their price objective on Brinker International from $108.00 to $146.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Fourteen analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $140.18.

Brinker International Price Performance

Shares of EAT stock opened at $161.64 on Thursday. The company has a market capitalization of $7.18 billion, a P/E ratio of 28.01, a P/E/G ratio of 0.51 and a beta of 2.54. The company’s 50-day simple moving average is $150.04 and its two-hundred day simple moving average is $111.94. Brinker International, Inc. has a one year low of $43.37 and a one year high of $192.21. The company has a debt-to-equity ratio of 4.96, a current ratio of 0.33 and a quick ratio of 0.27.

Brinker International (NYSE:EAT) last announced its quarterly earnings results on Wednesday, January 29th. The restaurant operator reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, equities analysts anticipate that Brinker International, Inc. will post 8.3 EPS for the current year.

Insiders Place Their Bets

In other Brinker International news, COO Douglas N. Comings sold 7,500 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $167.10, for a total transaction of $1,253,250.00. Following the transaction, the chief operating officer now owns 26,752 shares of the company’s stock, valued at approximately $4,470,259.20. This trade represents a 21.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Cindy L. Davis sold 5,802 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 11,107 shares of the company’s stock, valued at $2,086,561.02. The trade was a 34.31 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,802 shares of company stock worth $3,752,464. 1.72% of the stock is currently owned by company insiders.

Brinker International Company Profile

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.