Assenagon Asset Management S.A. Increases Stock Position in Brinker International, Inc. (NYSE:EAT)

Assenagon Asset Management S.A. increased its holdings in Brinker International, Inc. (NYSE:EAT) by 2,612.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 588,594 shares of the restaurant operator’s stock after purchasing an additional 566,894 shares during the period. Assenagon Asset Management S.A.’s holdings in Brinker International were worth $77,865,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Brinker International by 123.9% during the fourth quarter. GAMMA Investing LLC now owns 309 shares of the restaurant operator’s stock worth $41,000 after acquiring an additional 171 shares in the last quarter. Xponance Inc. bought a new stake in shares of Brinker International during the 2nd quarter valued at $202,000. Burford Brothers Inc. purchased a new stake in Brinker International during the 3rd quarter worth about $203,000. Mackenzie Financial Corp bought a new position in Brinker International in the 2nd quarter worth about $204,000. Finally, Parametrica Management Ltd purchased a new position in Brinker International during the 3rd quarter valued at about $209,000.

Wall Street Analysts Forecast Growth

EAT has been the topic of a number of recent analyst reports. The Goldman Sachs Group began coverage on shares of Brinker International in a report on Thursday, December 5th. They issued a “buy” rating and a $150.00 price target on the stock. JPMorgan Chase & Co. downgraded shares of Brinker International from an “overweight” rating to a “neutral” rating and raised their price target for the company from $67.00 to $100.00 in a report on Thursday, October 31st. Wells Fargo & Company raised shares of Brinker International from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $95.00 to $130.00 in a report on Thursday, December 12th. Barclays increased their price objective on Brinker International from $95.00 to $143.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 7th. Finally, Bank of America boosted their target price on Brinker International from $97.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Fifteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Brinker International has an average rating of “Hold” and an average target price of $105.28.

Insider Activity

In related news, CFO Michaela M. Ware sold 3,753 shares of Brinker International stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $103.02, for a total value of $386,634.06. Following the transaction, the chief financial officer now directly owns 23,071 shares of the company’s stock, valued at $2,376,774.42. The trade was a 13.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.72% of the company’s stock.

Brinker International Stock Performance

Brinker International stock opened at $143.48 on Thursday. The firm has a fifty day simple moving average of $129.55 and a two-hundred day simple moving average of $94.43. Brinker International, Inc. has a twelve month low of $37.25 and a twelve month high of $147.65. The company has a market capitalization of $6.37 billion, a PE ratio of 35.00, a P/E/G ratio of 1.46 and a beta of 2.52. The company has a quick ratio of 0.26, a current ratio of 0.32 and a debt-to-equity ratio of 63.54.

Brinker International (NYSE:EAT) last issued its earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the business posted $0.28 EPS. Brinker International’s quarterly revenue was up 12.5% compared to the same quarter last year. Research analysts expect that Brinker International, Inc. will post 5.43 EPS for the current year.

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.