Brinker International, Inc. (NYSE:EAT – Get Free Report)’s stock price was down 4.1% during mid-day trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $280.00 to $270.00. Wells Fargo & Company currently has an overweight rating on the stock. Brinker International traded as low as $189.23 and last traded at $187.4260. Approximately 44,668 shares were traded during mid-day trading, a decline of 96% from the average session volume of 1,182,228 shares. The stock had previously closed at $195.34.
Several other brokerages also recently weighed in on EAT. TD Cowen decreased their price target on Brinker International from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, October 16th. Bank of America boosted their price objective on shares of Brinker International from $224.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, August 14th. KeyCorp boosted their price objective on shares of Brinker International from $204.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Seaport Research Partners began coverage on shares of Brinker International in a research report on Wednesday, September 16th. They set a “buy” rating and a $230.00 price objective for the company. Finally, UBS Group upped their price objective on shares of Brinker International from $190.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $248.29.
Read Our Latest Stock Report on EAT
Insider Transactions at Brinker International
In related news, EVP Michaela Ware sold 3,030 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $233.48, for a total transaction of $707,444.40. Following the transaction, the executive vice president owned 17,494 shares of the company’s stock, valued at $4,084,499.12. This represents a 14.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Daniel Fuller sold 1,909 shares of the business’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $253.54, for a total transaction of $484,007.86. Following the sale, the senior vice president owned 30,177 shares in the company, valued at $7,651,076.58. The trade was a 5.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 173,694 shares of company stock valued at $41,568,690. 1.18% of the stock is owned by company insiders.
Institutional Trading of Brinker International
Several hedge funds and other institutional investors have recently made changes to their positions in EAT. Freestone Grove Partners LP acquired a new position in Brinker International during the second quarter worth about $91,237,000. Bank of America Corp DE purchased a new position in Brinker International in the second quarter valued at about $39,687,000. Wellington Management Group LLP lifted its position in shares of Brinker International by 63.7% during the 2nd quarter. Wellington Management Group LLP now owns 413,472 shares of the restaurant operator’s stock valued at $69,463,000 after acquiring an additional 160,939 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Brinker International by 53.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 456,565 shares of the restaurant operator’s stock valued at $65,184,000 after acquiring an additional 159,606 shares during the period. Finally, BlackRock Inc. lifted its position in shares of Brinker International by 2.2% during the 2nd quarter. BlackRock Inc. now owns 6,729,477 shares of the restaurant operator’s stock valued at $1,130,552,000 after acquiring an additional 145,525 shares during the period.
Brinker International Price Performance
The company has a 50 day moving average price of $215.41 and a 200 day moving average price of $181.98. The firm has a market cap of $7.84 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 1.03 and a beta of 1.25. The company has a current ratio of 0.45, a quick ratio of 0.40 and a debt-to-equity ratio of 0.95.
Brinker International (NYSE:EAT – Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The restaurant operator reported $3.07 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). Brinker International had a return on equity of 122.35% and a net margin of 8.39%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the company earned $2.30 EPS. The business’s revenue was up 5.1% on a year-over-year basis. Brinker International has set its FY 2027 guidance at 12.600-13.400 EPS. On average, sell-side analysts expect that Brinker International, Inc. will post 13.18 EPS for the current year.
About Brinker International
Brinker International, Inc is a casual-dining restaurant company that owns, operates and franchises restaurants in the United States and select international markets. The company is headquartered in Dallas, Texas, and serves customers through company-operated and franchised locations.
Brinker’s principal brands are Chili’s Grill & Bar and Maggiano’s Little Italy. Chili’s offers a broad menu of burgers, steaks, ribs, fajitas, Tex-Mex dishes, salads and beverages in a full-service, casual setting.
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