Transcendent Capital Group LLC Invests $1.75 Million in Brinker International, Inc. (NYSE:EAT)

Transcendent Capital Group LLC acquired a new position in Brinker International, Inc. (NYSE:EAT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 22,855 shares of the restaurant operator’s stock, valued at approximately $1,749,000. Transcendent Capital Group LLC owned about 0.05% of Brinker International as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the business. CWM LLC lifted its position in Brinker International by 96.2% in the second quarter. CWM LLC now owns 416 shares of the restaurant operator’s stock valued at $30,000 after purchasing an additional 204 shares during the last quarter. Headlands Technologies LLC bought a new stake in Brinker International in the 1st quarter worth $47,000. Signaturefd LLC increased its position in shares of Brinker International by 33.2% in the second quarter. Signaturefd LLC now owns 986 shares of the restaurant operator’s stock valued at $71,000 after acquiring an additional 246 shares during the period. Covestor Ltd raised its stake in shares of Brinker International by 32,500.0% during the first quarter. Covestor Ltd now owns 1,304 shares of the restaurant operator’s stock valued at $65,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in shares of Brinker International by 1,265.2% during the second quarter. Quest Partners LLC now owns 1,884 shares of the restaurant operator’s stock worth $136,000 after purchasing an additional 1,746 shares during the period.

Analysts Set New Price Targets

A number of research analysts have commented on EAT shares. Stifel Nicolaus upped 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. Morgan Stanley upped their target price on Brinker International from $42.00 to $50.00 and gave the company an “underweight” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. cut shares of Brinker International from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $67.00 to $100.00 in a report on Thursday, October 31st. Argus lowered shares of Brinker International from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Finally, Wells Fargo & Company lifted their target price on shares of Brinker International from $85.00 to $95.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Brinker International has a consensus rating of “Hold” and an average target price of $86.45.

Insider Buying and Selling

In other news, CFO Michaela M. Ware sold 3,753 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 23,071 shares of the company’s stock, valued at $2,376,774.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.72% of the stock is owned by company insiders.

Brinker International Price Performance

Shares of NYSE:EAT opened at $114.88 on Friday. The business has a fifty day moving average price of $85.32 and a 200-day moving average price of $72.46. The company has a debt-to-equity ratio of 63.54, a current ratio of 0.32 and a quick ratio of 0.26. The company has a market capitalization of $5.10 billion, a PE ratio of 28.02, a PEG ratio of 1.28 and a beta of 2.46. Brinker International, Inc. has a 1-year low of $33.24 and a 1-year high of $119.42.

Brinker International (NYSE:EAT) last released its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.26. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.10 billion. Brinker International had a net margin of 4.11% and a negative return on equity of 839.19%. Brinker International’s revenue was up 12.5% compared to the same quarter last year. During the same period last year, the business earned $0.28 EPS. As a group, equities analysts expect that Brinker International, Inc. will post 5.53 EPS for the current fiscal year.

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.