Brinker International, Inc. (NYSE:EAT) Shares Sold by North Growth Management Ltd.

North Growth Management Ltd. cut its position in shares of Brinker International, Inc. (NYSE:EAT) by 18.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 174,000 shares of the restaurant operator’s stock after selling 39,000 shares during the period. Brinker International accounts for 4.4% of North Growth Management Ltd.’s portfolio, making the stock its 6th largest holding. North Growth Management Ltd.’s holdings in Brinker International were worth $23,010,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in Brinker International by 0.8% in the third quarter. Geode Capital Management LLC now owns 998,278 shares of the restaurant operator’s stock valued at $76,413,000 after buying an additional 8,105 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Brinker International by 4.3% during the 3rd quarter. Fisher Asset Management LLC now owns 691,230 shares of the restaurant operator’s stock worth $52,900,000 after acquiring an additional 28,373 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in Brinker International in the 4th quarter valued at $81,888,000. Wellington Management Group LLP lifted its holdings in Brinker International by 55.1% during the 3rd quarter. Wellington Management Group LLP now owns 618,728 shares of the restaurant operator’s stock valued at $47,351,000 after purchasing an additional 219,836 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Brinker International by 2,612.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 588,594 shares of the restaurant operator’s stock worth $77,865,000 after purchasing an additional 566,894 shares during the period.

Insiders Place Their Bets

In related news, Director Cindy L. Davis sold 5,802 shares of Brinker International stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $187.86, for a total transaction of $1,089,963.72. Following the sale, the director now directly owns 11,107 shares of the company’s stock, valued at approximately $2,086,561.02. The trade was a 34.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.72% of the company’s stock.

Brinker International Stock Down 5.5 %

Shares of EAT opened at $172.17 on Friday. The firm has a 50 day simple moving average of $144.57 and a two-hundred day simple moving average of $106.42. 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, Inc. has a one year low of $42.99 and a one year high of $192.21. The company has a market cap of $7.65 billion, a P/E ratio of 29.84, a P/E/G ratio of 0.58 and a beta of 2.54.

Brinker International (NYSE:EAT) last issued its quarterly earnings results on Wednesday, January 29th. The restaurant operator reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $1.43. Brinker International had a return on equity of 879.47% and a net margin of 5.45%. Research analysts forecast that Brinker International, Inc. will post 8.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on EAT. Citigroup raised their target price on shares of Brinker International from $166.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Morgan Stanley upgraded Brinker International from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $70.00 to $115.00 in a report on Friday, December 20th. BMO Capital Markets upped their target price on Brinker International from $105.00 to $125.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Bank of America lifted their price target on Brinker International from $97.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company upped their price objective on Brinker International from $145.00 to $175.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $140.18.

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.