Citigroup Inc. Purchases 7,840 Shares of Brinker International, Inc. (NYSE:EAT)

Citigroup Inc. increased its position in Brinker International, Inc. (NYSE:EAT) by 12.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 70,080 shares of the restaurant operator’s stock after acquiring an additional 7,840 shares during the quarter. Citigroup Inc. owned about 0.16% of Brinker International worth $10,445,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in Brinker International by 575.0% in the 1st quarter. Farther Finance Advisors LLC now owns 189 shares of the restaurant operator’s stock worth $29,000 after buying an additional 161 shares during the period. Coppell Advisory Solutions LLC purchased a new stake in shares of Brinker International during the fourth quarter worth $26,000. Financial Management Professionals Inc. bought a new position in shares of Brinker International in the first quarter worth $30,000. Continuum Advisory LLC grew its position in shares of Brinker International by 1,714.3% in the first quarter. Continuum Advisory LLC now owns 254 shares of the restaurant operator’s stock valued at $38,000 after purchasing an additional 240 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Brinker International in the fourth quarter valued at $48,000.

Insider Buying and Selling

In other Brinker International news, Director Harriet Edelman sold 8,325 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $157.00, for a total value of $1,307,025.00. Following the completion of the sale, the director owned 28,905 shares in the company, valued at approximately $4,538,085. The trade was a 22.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Michael Depinto sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $170.36, for a total transaction of $1,703,600.00. Following the completion of the transaction, the director owned 99,297 shares in the company, valued at $16,916,236.92. This represents a 9.15% decrease in their position. The disclosure for this sale can be found here. 1.72% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on EAT. Wall Street Zen cut Brinker International from a “strong-buy” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company increased their price target on shares of Brinker International from $150.00 to $165.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Piper Sandler boosted their price objective on shares of Brinker International from $155.00 to $168.00 and gave the company a “neutral” rating in a research note on Thursday. Bank of America upped their target price on shares of Brinker International from $186.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, BMO Capital Markets raised their price target on shares of Brinker International from $150.00 to $170.00 and gave the company a “market perform” rating in a report on Thursday. Thirteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Brinker International currently has an average rating of “Hold” and an average price target of $171.41.

Brinker International Price Performance

Shares of Brinker International stock opened at $158.04 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.23 and a current ratio of 0.31. Brinker International, Inc. has a 52-week low of $65.26 and a 52-week high of $192.21. The company has a fifty day moving average of $167.98 and a 200-day moving average of $158.41. The stock has a market capitalization of $7.02 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 0.36 and a beta of 1.68.

Brinker International (NYSE:EAT) last posted its quarterly earnings results on Wednesday, August 13th. The restaurant operator reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.02. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.42 billion. Brinker International had a net margin of 7.12% and a return on equity of 211.86%. The company’s revenue was up 21.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.61 earnings per share. Equities research analysts expect that Brinker International, Inc. will post 8.3 EPS for the current year.

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.