BNP Paribas Arbitrage SA lifted its position in shares of Brinker International, Inc. (NYSE:EAT) by 51.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 327,211 shares of the restaurant operator’s stock after buying an additional 110,839 shares during the quarter. BNP Paribas Arbitrage SA owned about 0.75% of Brinker International worth $15,575,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of EAT. BlackRock Inc. raised its stake in Brinker International by 2.1% in the first quarter. BlackRock Inc. now owns 5,103,055 shares of the restaurant operator’s stock valued at $184,219,000 after purchasing an additional 106,420 shares in the last quarter. Cooke & Bieler LP raised its stake in Brinker International by 1.6% during the first quarter. Cooke & Bieler LP now owns 1,551,302 shares of the restaurant operator’s stock worth $56,002,000 after acquiring an additional 24,212 shares in the last quarter. Prudential Financial Inc. raised its stake in Brinker International by 161.9% during the first quarter. Prudential Financial Inc. now owns 1,242,645 shares of the restaurant operator’s stock worth $44,859,000 after acquiring an additional 768,154 shares in the last quarter. Northern Trust Corp raised its stake in Brinker International by 3.5% during the first quarter. Northern Trust Corp now owns 808,520 shares of the restaurant operator’s stock worth $29,187,000 after acquiring an additional 27,192 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in Brinker International during the first quarter worth about $28,053,000.
Several research firms have recently weighed in on EAT. Zacks Investment Research cut Brinker International from a “buy” rating to a “hold” rating in a report on Wednesday, April 18th. Canaccord Genuity restated a “hold” rating and set a $43.00 price target on shares of Brinker International in a report on Friday, April 20th. Royal Bank of Canada upgraded Brinker International from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $41.37 to $49.00 in a report on Friday, April 27th. Maxim Group reiterated a “buy” rating and issued a $55.00 target price (up from $52.00) on shares of Brinker International in a report on Tuesday, May 1st. Finally, Telsey Advisory Group upped their target price on Brinker International from $39.00 to $49.00 and gave the company a “market perform” rating in a report on Wednesday, May 2nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $45.00.
In other Brinker International news, SVP David Roy Doyle sold 3,615 shares of the company’s stock in a transaction on Wednesday, June 13th. The stock was sold at an average price of $49.86, for a total value of $180,243.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Valade sold 4,224 shares of the company’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $49.59, for a total value of $209,468.16. The disclosure for this sale can be found here. Corporate insiders own 1.91% of the company’s stock.
About Brinker International
Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants worldwide. As of June 28, 2017, it owned, operated, or franchised 1,674 restaurants comprising 1,622 restaurants under the Chili's Grill & Bar brand name; and 52 restaurants under the Maggiano's Little Italy brand name.
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