Hsbc Holdings PLC Trims Position in Brinker International, Inc. $EAT

Hsbc Holdings PLC trimmed its holdings in shares of Brinker International, Inc. (NYSE:EAT) by 83.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,540 shares of the restaurant operator’s stock after selling 27,876 shares during the period. Hsbc Holdings PLC’s holdings in Brinker International were worth $792,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Aberdeen Group plc boosted its holdings in Brinker International by 8.7% in the fourth quarter. Aberdeen Group plc now owns 136,564 shares of the restaurant operator’s stock valued at $19,600,000 after purchasing an additional 10,891 shares during the last quarter. Swedbank AB acquired a new stake in Brinker International during the 1st quarter worth about $3,855,000. Integrated Advisors Network LLC raised its stake in shares of Brinker International by 357.3% during the 1st quarter. Integrated Advisors Network LLC now owns 7,550 shares of the restaurant operator’s stock valued at $1,078,000 after buying an additional 5,899 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Brinker International by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 4,819,397 shares of the restaurant operator’s stock valued at $691,680,000 after buying an additional 73,346 shares during the period. Finally, Independent Advisor Alliance lifted its holdings in Brinker International by 22.0% in the fourth quarter. Independent Advisor Alliance now owns 26,282 shares of the restaurant operator’s stock valued at $3,772,000 after acquiring an additional 4,734 shares during the period.

Brinker International Price Performance

NYSE:EAT opened at $205.68 on Thursday. The stock has a 50 day moving average of $166.10 and a two-hundred day moving average of $155.34. Brinker International, Inc. has a 12 month low of $100.30 and a 12 month high of $208.88. The firm has a market cap of $8.82 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 1.18 and a beta of 1.24. The company has a current ratio of 0.40, a quick ratio of 0.35 and a debt-to-equity ratio of 1.05.

Brinker International (NYSE:EAT) last issued its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.05. Brinker International had a return on equity of 123.22% and a net margin of 8.07%.The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the company posted $2.66 earnings per share. The business’s revenue was up 3.2% on a year-over-year basis. On average, analysts expect that Brinker International, Inc. will post 10.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

EAT has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of Brinker International from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Weiss Ratings raised shares of Brinker International from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 16th. Stephens initiated coverage on shares of Brinker International in a report on Friday, July 17th. They issued an “overweight” rating and a $220.00 price objective for the company. Morgan Stanley upped their price objective on shares of Brinker International from $205.00 to $207.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Citigroup increased their target price on shares of Brinker International from $189.00 to $227.00 and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $193.25.

About Brinker International

Brinker International, Inc (NYSE: EAT) is a leading global operator of casual dining restaurants. The company’s portfolio is anchored by its flagship Chili’s® Grill & Bar concept and Maggiano’s® Little Italy full‐service restaurants, offering a range of American‐style menu items, handcrafted cocktails and family‐friendly dining experiences. Through dine‐in, takeout, delivery and catering services, Brinker seeks to meet consumer preferences across multiple channels.

The Chili’s brand features signature items such as baby back ribs, burgers and fajitas alongside a rotating selection of limited‐time offerings and seasonal beverages.