Wakefield Asset Management LLLP Cuts Stake in Brinker International, Inc. (NYSE:EAT)

Wakefield Asset Management LLLP reduced its position in Brinker International, Inc. (NYSE:EAT) by 47.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,223 shares of the restaurant operator’s stock after selling 7,489 shares during the quarter. Wakefield Asset Management LLLP’s holdings in Brinker International were worth $1,088,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in EAT. Wolff Wiese Magana LLC lifted its position in shares of 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 purchasing an additional 100 shares during the period. Savant Capital LLC boosted its position in Brinker International by 4.7% during the fourth quarter. Savant Capital LLC now owns 3,274 shares of the restaurant operator’s stock valued at $433,000 after purchasing an additional 147 shares in the last quarter. GAMMA Investing LLC grew its stake in Brinker International by 123.9% in the fourth quarter. GAMMA Investing LLC now owns 309 shares of the restaurant operator’s stock valued at $41,000 after purchasing an additional 171 shares during the last quarter. Optimist Retirement Group LLC raised its holdings in Brinker International by 6.1% in the third quarter. Optimist Retirement Group LLC now owns 3,256 shares of the restaurant operator’s stock worth $249,000 after purchasing an additional 187 shares in the last quarter. Finally, Highview Capital Management LLC DE lifted its position in shares of Brinker International by 1.6% during the fourth quarter. Highview Capital Management LLC DE now owns 13,557 shares of the restaurant operator’s stock valued at $1,793,000 after buying an additional 218 shares during the last quarter.

Brinker International Price Performance

NYSE:EAT opened at $155.78 on Friday. The company has a 50 day moving average price of $152.90 and a 200-day moving average price of $115.38. Brinker International, Inc. has a 1-year low of $43.37 and a 1-year high of $192.21. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 0.49 and a beta of 2.54. 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 (NYSE:EAT) last posted its earnings results on Wednesday, January 29th. The restaurant operator reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $1.43. Brinker International had a return on equity of 879.47% and a net margin of 5.45%. Equities research analysts forecast that Brinker International, Inc. will post 8.3 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on EAT. StockNews.com upgraded shares of Brinker International from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. Morgan Stanley raised Brinker International from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $70.00 to $115.00 in a research report on Friday, December 20th. UBS Group boosted their target price on Brinker International from $108.00 to $146.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Stifel Nicolaus raised their price target on Brinker International from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Northcoast Research upgraded shares of Brinker International from a “neutral” rating to a “buy” rating and set a $215.00 price objective on the stock in a report on Thursday, January 30th. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $140.18.

Insider Activity

In related news, COO Douglas N. Comings sold 7,500 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $187.90, for a total value of $1,409,250.00. Following the completion of the sale, the chief operating officer now owns 34,252 shares of the company’s stock, valued at approximately $6,435,950.80. The trade was a 17.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Cindy L. Davis sold 5,802 shares of the 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 transaction, the director now directly owns 11,107 shares in the company, valued at approximately $2,086,561.02. The trade was a 34.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,802 shares of company stock worth $3,752,464 over the last three months. 1.72% of the stock is currently owned by corporate insiders.

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.