King Luther Capital Management Corp Lowers Stock Holdings in Brinker International, Inc. (NYSE:EAT)

King Luther Capital Management Corp reduced its position in Brinker International, Inc. (NYSE:EAT) by 2.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,374 shares of the restaurant operator’s stock after selling 350 shares during the quarter. King Luther Capital Management Corp’s holdings in Brinker International were worth $1,177,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Transcendent Capital Group LLC bought a new stake in Brinker International in the 1st quarter worth approximately $25,000. CWM LLC raised its stake in shares of Brinker International by 96.2% during the second quarter. CWM LLC now owns 416 shares of the restaurant operator’s stock worth $30,000 after acquiring an additional 204 shares in the last quarter. Signaturefd LLC raised its stake in shares of Brinker International by 33.2% during the second quarter. Signaturefd LLC now owns 986 shares of the restaurant operator’s stock worth $71,000 after acquiring an additional 246 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of Brinker International by 1,265.2% in the 2nd quarter. Quest Partners LLC now owns 1,884 shares of the restaurant operator’s stock worth $136,000 after acquiring an additional 1,746 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Brinker International by 1,111.8% in the 2nd quarter. Fifth Third Bancorp now owns 2,266 shares of the restaurant operator’s stock valued at $164,000 after purchasing an additional 2,079 shares in the last quarter.

Brinker International Stock Performance

Brinker International stock opened at $125.62 on Friday. Brinker International, Inc. has a fifty-two week low of $34.77 and a fifty-two week high of $126.29. The stock’s 50 day simple moving average is $95.35 and its two-hundred day simple moving average is $77.23. The company has a debt-to-equity ratio of 63.54, a quick ratio of 0.26 and a current ratio of 0.32. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 30.64, a PEG ratio of 1.37 and a beta of 2.46.

Brinker International (NYSE:EAT) last issued its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.26. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 earnings per share. As a group, analysts expect that Brinker International, Inc. will post 5.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

EAT has been the topic of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of Brinker International from $85.00 to $95.00 and gave the stock an “underweight” rating in a research report on Thursday, October 31st. Evercore ISI increased their target price on Brinker International from $69.00 to $90.00 and gave the company an “in-line” rating in a report on Tuesday, October 15th. Bank of America raised their price target on Brinker International from $97.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wedbush reiterated a “neutral” rating and issued a $68.00 price objective on shares of Brinker International in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. cut shares of Brinker International from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $67.00 to $100.00 in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $86.45.

Insider Buying and Selling

In other Brinker International news, CFO Michaela M. Ware sold 3,753 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $103.02, for a total value of $386,634.06. Following the sale, the chief financial officer now owns 23,071 shares in the company, valued at approximately $2,376,774.42. This represents a 13.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.72% of the stock is owned by company 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.