Franklin Resources Inc. Trims Stake in Brinker International, Inc. (NYSE:EAT)

Franklin Resources Inc. reduced its stake in Brinker International, Inc. (NYSE:EAT) by 97.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,852 shares of the restaurant operator’s stock after selling 2,223,956 shares during the period. Franklin Resources Inc. owned 0.14% of Brinker International worth $8,050,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC grew its stake in Brinker International by 100.0% in the 4th quarter. Wolff Wiese Magana LLC now owns 200 shares of the restaurant operator’s stock worth $26,000 after acquiring an additional 100 shares in the last quarter. GAMMA Investing LLC grew its stake in Brinker International by 123.9% in the 4th 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. R Squared Ltd bought a new position in Brinker International in the 4th quarter worth about $83,000. SBI Securities Co. Ltd. bought a new position in Brinker International in the 4th quarter worth about $126,000. Finally, Daiwa Securities Group Inc. bought a new position in Brinker International in the 4th quarter worth about $146,000.

Insiders Place Their Bets

In related news, Director Cindy L. Davis sold 5,802 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 11,107 shares of the company’s stock, valued at $2,086,561.02. This trade represents a 34.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Douglas N. Comings sold 7,500 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $167.10, for a total transaction of $1,253,250.00. Following the transaction, the chief operating officer now directly owns 26,752 shares of the company’s stock, valued at approximately $4,470,259.20. This trade represents a 21.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,802 shares of company stock valued at $3,752,464. Insiders own 1.72% of the company’s stock.

Brinker International Trading Up 10.0 %

NYSE EAT opened at $146.21 on Thursday. The company has a fifty day simple moving average of $152.97 and a two-hundred day simple moving average of $131.44. The stock has a market cap of $6.49 billion, a P/E ratio of 25.34, a P/E/G ratio of 0.49 and a beta of 2.21. Brinker International, Inc. has a 12-month low of $43.37 and a 12-month high of $192.22. The company has a current ratio of 0.33, a quick ratio of 0.27 and a debt-to-equity ratio of 4.96.

Brinker International (NYSE:EAT) last posted its quarterly earnings results on Wednesday, January 29th. The restaurant operator reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $1.43. Brinker International had a net margin of 5.45% and a return on equity of 879.47%. On average, analysts forecast that Brinker International, Inc. will post 8.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on EAT shares. JPMorgan Chase & Co. upped their target price on shares of Brinker International from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Wells Fargo & Company increased their price objective on shares of Brinker International from $145.00 to $175.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Wedbush increased their price objective on shares of Brinker International from $140.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Barclays increased their price objective on shares of Brinker International from $150.00 to $190.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, KeyCorp downgraded shares of Brinker International from an “overweight” rating to a “sector weight” rating and set a $115.00 price objective on the stock. in a research note on Friday, January 24th. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Brinker International currently has an average rating of “Hold” and an average price target of $140.18.

Brinker International 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.