Summit Investment Advisors Inc. Purchases 148 Shares of Brinker International, Inc. (NYSE:EAT)

Summit Investment Advisors Inc. grew its position in Brinker International, Inc. (NYSE:EAT) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,509 shares of the restaurant operator’s stock after purchasing an additional 148 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Brinker International were worth $596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of EAT. Hennessy Advisors Inc. purchased a new stake in Brinker International in the 4th quarter worth $81,888,000. Assenagon Asset Management S.A. boosted its stake in shares of Brinker International by 2,612.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 588,594 shares of the restaurant operator’s stock worth $77,865,000 after acquiring an additional 566,894 shares during the period. Wedge Capital Management L L P NC grew its position in shares of Brinker International by 1,145.2% during the fourth quarter. Wedge Capital Management L L P NC now owns 416,044 shares of the restaurant operator’s stock worth $55,038,000 after purchasing an additional 382,633 shares in the last quarter. American Century Companies Inc. raised its stake in Brinker International by 4,710.3% during the 4th quarter. American Century Companies Inc. now owns 280,824 shares of the restaurant operator’s stock valued at $37,150,000 after purchasing an additional 274,986 shares during the period. Finally, Norges Bank purchased a new position in Brinker International in the 4th quarter worth approximately $21,549,000.

Wall Street Analyst Weigh In

EAT has been the subject of a number of research analyst reports. UBS Group increased their price objective on shares of Brinker International from $108.00 to $146.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. StockNews.com raised shares of Brinker International from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. Citigroup dropped their price objective on shares of Brinker International from $185.00 to $170.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. lifted their target price on Brinker International from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Finally, Barclays increased their price target on Brinker International from $150.00 to $190.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Thirteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Brinker International has an average rating of “Hold” and a consensus target price of $144.47.

Insider Transactions at Brinker International

In other news, COO Douglas N. Comings sold 7,500 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $167.10, for a total value of $1,253,250.00. Following the transaction, the chief operating officer now directly owns 26,752 shares in the company, valued at approximately $4,470,259.20. This represents a 21.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Cindy L. Davis sold 5,802 shares of Brinker International stock in a transaction dated 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 sale, the director now owns 11,107 shares of the company’s stock, valued at $2,086,561.02. The trade was a 34.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,802 shares of company stock worth $3,752,464. 1.72% of the stock is currently owned by company insiders.

Brinker International Stock Up 2.0 %

NYSE EAT opened at $153.28 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.33 and a debt-to-equity ratio of 4.96. Brinker International, Inc. has a 52 week low of $44.58 and a 52 week high of $192.22. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 0.49 and a beta of 2.21. The company has a fifty day moving average of $148.81 and a two-hundred day moving average of $134.54.

Brinker International (NYSE:EAT) last released its quarterly earnings results on Wednesday, January 29th. The restaurant operator reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $1.43. Brinker International had a net margin of 5.45% and a return on equity of 879.47%. On average, analysts predict that Brinker International, Inc. will post 8.3 earnings per share for the current year.

About Brinker International

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.