Brinker International, Inc. (NYSE:EAT) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Brinker International, Inc. (NYSE:EAT) by 28.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 13,022 shares of the restaurant operator’s stock after acquiring an additional 2,883 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Brinker International were worth $997,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Marshall Wace LLP lifted its stake in Brinker International by 13,850.1% during the second quarter. Marshall Wace LLP now owns 1,057,416 shares of the restaurant operator’s stock worth $76,546,000 after purchasing an additional 1,049,836 shares in the last quarter. Millennium Management LLC lifted its stake in Brinker International by 31.7% during the 2nd quarter. Millennium Management LLC now owns 942,510 shares of the restaurant operator’s stock worth $68,228,000 after acquiring an additional 227,047 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Brinker International by 1,686.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 192,972 shares of the restaurant operator’s stock valued at $13,969,000 after acquiring an additional 182,172 shares during the period. Squarepoint Ops LLC grew its position in Brinker International by 1,160.2% in the 2nd quarter. Squarepoint Ops LLC now owns 192,268 shares of the restaurant operator’s stock valued at $13,918,000 after acquiring an additional 177,011 shares in the last quarter. Finally, Shellback Capital LP purchased a new stake in Brinker International during the second quarter worth about $7,963,000.

Analysts Set New Price Targets

Several research analysts have recently commented on EAT shares. Piper Sandler raised their price objective on shares of Brinker International from $62.00 to $97.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. The Goldman Sachs Group initiated coverage on shares of Brinker International in a research note on Thursday. They issued a “buy” rating and a $150.00 price target for the company. Raymond James cut Brinker International from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 17th. Bank Of America (Bofa) boosted their target price on Brinker International from $94.00 to $97.00 in a research note on Tuesday, October 29th. Finally, Stifel Nicolaus increased their price target on Brinker International from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Brinker International presently has a consensus rating of “Hold” and an average target price of $89.63.

Brinker International Stock Performance

Shares of EAT opened at $130.77 on Friday. The company’s 50 day simple moving average is $104.08 and its 200-day simple moving average is $81.13. Brinker International, Inc. has a 12-month low of $37.25 and a 12-month high of $133.82. The firm has a market cap of $5.81 billion, a PE ratio of 31.90, a price-to-earnings-growth ratio of 1.43 and a beta of 2.51. The company has a current ratio of 0.32, a quick ratio of 0.26 and a debt-to-equity ratio of 63.54.

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

Insiders Place Their Bets

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