Brinker International, Inc. (NYSE:EAT) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totalling 8,630,000 shares, an increase of 11.8% from the April 30th total of 7,720,000 shares. Approximately 23.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,980,000 shares, the short-interest ratio is presently 2.9 days.
In other Brinker International news, CEO Wyman Roberts purchased 4,425 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was purchased at an average cost of $34.63 per share, with a total value of $153,237.75. Following the acquisition, the chief executive officer now directly owns 157,214 shares of the company’s stock, valued at approximately $5,444,320.82. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Joseph G. Taylor acquired 2,500 shares of the business’s stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $34.07 per share, with a total value of $85,175.00. Following the transaction, the chief financial officer now owns 13,293 shares in the company, valued at approximately $452,892.51. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 7,925 shares of company stock worth $272,363. Company insiders own 3.51% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of EAT. Huntington National Bank acquired a new stake in Brinker International during the 4th quarter worth approximately $32,000. Assetmark Inc. boosted its holdings in shares of Brinker International by 190.8% in the fourth quarter. Assetmark Inc. now owns 794 shares of the restaurant operator’s stock valued at $33,000 after buying an additional 521 shares during the period. Advisors Asset Management Inc. bought a new stake in shares of Brinker International during the fourth quarter worth $43,000. PNC Financial Services Group Inc. raised its holdings in shares of Brinker International by 24.7% during the first quarter. PNC Financial Services Group Inc. now owns 4,449 shares of the restaurant operator’s stock worth $54,000 after acquiring an additional 881 shares during the period. Finally, FMR LLC lifted its position in Brinker International by 57.2% in the 4th quarter. FMR LLC now owns 1,665 shares of the restaurant operator’s stock valued at $70,000 after acquiring an additional 606 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.
Shares of EAT stock opened at $24.50 on Friday. Brinker International has a 12-month low of $7.00 and a 12-month high of $47.57. The firm has a fifty day moving average of $17.78 and a 200-day moving average of $32.98. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 7.78, a price-to-earnings-growth ratio of 2.14 and a beta of 2.18.
Brinker International (NYSE:EAT) last posted its earnings results on Wednesday, April 29th. The restaurant operator reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.63. Brinker International had a negative return on equity of 24.65% and a net margin of 3.62%. The firm had revenue of $860.00 million for the quarter, compared to analyst estimates of $845.99 million. During the same period in the previous year, the company posted $1.26 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. Sell-side analysts predict that Brinker International will post 1.09 earnings per share for the current year.
Several research firms have weighed in on EAT. Piper Sandler restated an “overweight” rating and issued a $32.00 price objective (up previously from $29.00) on shares of Brinker International in a research report on Friday. Zacks Investment Research cut shares of Brinker International from a “hold” rating to a “strong sell” rating and set a $17.00 price objective for the company. in a research report on Tuesday, May 5th. BMO Capital Markets increased their price objective on Brinker International from $15.00 to $20.00 and gave the company a “market perform” rating in a research report on Thursday, April 30th. Loop Capital dropped their target price on Brinker International from $54.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. cut their price target on Brinker International from $28.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $35.22.
Brinker International Company Profile
Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants in the United States and internationally. As of June 27, 2018, it owned, operated, or franchised 1,686 restaurants comprising 997 company-owned restaurants and 689 franchised restaurants under the Chili's Grill & Bar and Maggiano's Little Italy brand names.
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