Neo Ivy Capital Management Takes $286,000 Position in Brinker International, Inc. (NYSE:EAT)

Neo Ivy Capital Management acquired a new position in Brinker International, Inc. (NYSE:EAT) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,744 shares of the restaurant operator’s stock, valued at approximately $286,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in EAT. CWM LLC raised its holdings in Brinker International by 96.2% in the 2nd quarter. CWM LLC now owns 416 shares of the restaurant operator’s stock valued at $30,000 after acquiring an additional 204 shares in the last quarter. Signaturefd LLC lifted its position in 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 purchasing an additional 246 shares during the period. Quest Partners LLC increased its holdings in Brinker International by 1,265.2% in the 2nd quarter. Quest Partners LLC now owns 1,884 shares of the restaurant operator’s stock valued at $136,000 after buying an additional 1,746 shares during the period. Fifth Third Bancorp raised its position 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 buying an additional 2,079 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Brinker International during the 2nd quarter worth approximately $166,000.

Brinker International Stock Up 2.2 %

Shares of NYSE:EAT opened at $129.76 on Thursday. The firm has a market cap of $5.77 billion, a P/E ratio of 31.65, a PEG ratio of 1.43 and a beta of 2.51. Brinker International, Inc. has a 52-week low of $37.25 and a 52-week high of $133.82. The business’s 50 day simple moving average is $109.13 and its two-hundred day simple moving average is $83.34. The company has a debt-to-equity ratio of 63.54, a quick ratio of 0.26 and a current ratio of 0.32.

Brinker International (NYSE:EAT) last posted its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.26. Brinker International had a net margin of 4.11% and a negative return on equity of 839.19%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the firm posted $0.28 EPS. Brinker International’s revenue was up 12.5% compared to the same quarter last year. As a group, research analysts forecast that Brinker International, Inc. will post 5.52 EPS for the current fiscal year.

Insider Activity at Brinker International

In other Brinker International news, CFO Michaela M. Ware sold 3,753 shares of the firm’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 in the company, valued at approximately $2,376,774.42. This trade represents a 13.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.72% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on EAT shares. Evercore ISI upped their target price on Brinker International from $69.00 to $90.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 15th. KeyCorp lifted their target price on Brinker International from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Stifel Nicolaus boosted their target price on Brinker International from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Bank of America lifted their price target on shares of Brinker International from $97.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company upped their price objective 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. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $89.63.

Brinker International Company 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.