Brinker International Inc. (EAT) Trading Down 1.6%
Shares of Brinker International Inc. (NYSE:EAT) traded down 1.6% during trading on Monday . The company traded as low as $47.60 and last traded at $47.62, with a volume of 309,157 shares traded. The stock had previously closed at $48.37.
Several analysts recently issued reports on the stock. BTIG Research reaffirmed a “buy” rating and set a $57.00 price objective on shares of Brinker International in a research note on Monday, April 18th. Maxim Group dropped their price objective on shares of Brinker International from $60.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, April 19th. Zacks Investment Research cut shares of Brinker International from a “hold” rating to a “sell” rating in a research note on Monday, April 18th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $52.00 price objective on shares of Brinker International in a research note on Thursday, April 14th. Finally, Barclays PLC upped their price objective on shares of Brinker International from $47.00 to $48.00 and gave the company an “equal weight” rating in a research note on Friday, June 10th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. Brinker International currently has a consensus rating of “Hold” and a consensus target price of $52.76.
The firm has a market cap of $2.65 billion and a P/E ratio of 14.65. The stock has a 50 day moving average price of $46.20 and a 200-day moving average price of $46.91.
Brinker International (NYSE:EAT) last announced its earnings results on Tuesday, April 19th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.01. During the same quarter in the prior year, the company earned $0.94 EPS. The company earned $824.60 million during the quarter, compared to the consensus estimate of $845.75 million. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Equities research analysts predict that Brinker International Inc. will post $3.54 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Friday, June 10th were given a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, June 8th. This represents a $1.28 dividend on an annualized basis and a yield of 2.69%.
In related news, VP Joseph G. Taylor sold 2,500 shares of the stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $46.87, for a total value of $117,175.00. Following the completion of the transaction, the vice president now owns 2,492 shares in the company, valued at approximately $116,800.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas Jr. Edwards bought 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 27th. The stock was bought at an average price of $45.50 per share, with a total value of $250,250.00. Following the transaction, the chief financial officer now directly owns 20,056 shares in the company, valued at $912,548. The disclosure for this purchase can be found here.
A number of institutional investors recently made changes to their positions in EAT. Bank of Montreal Can raised its position in shares of Brinker International by 826.9% in the fourth quarter. Bank of Montreal Can now owns 33,407 shares of the company’s stock worth $1,601,000 after buying an additional 29,803 shares in the last quarter. Liberty Mutual Group Asset Management Inc. increased its stake in shares of Brinker International by 51.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 38,743 shares of the company’s stock worth $1,859,000 after buying an additional 13,141 shares during the last quarter. Shell Asset Management Co. increased its stake in shares of Brinker International by 302.7% in the fourth quarter. Shell Asset Management Co. now owns 43,013 shares of the company’s stock worth $2,062,000 after buying an additional 32,333 shares during the last quarter. BOKF NA increased its stake in shares of Brinker International by 17.3% in the fourth quarter. BOKF NA now owns 59,457 shares of the company’s stock worth $2,851,000 after buying an additional 8,784 shares during the last quarter. Finally, Dean Investment Associates LLC acquired a new stake in shares of Brinker International during the fourth quarter worth $2,950,000.
Brinker International, Inc (Brinker) owns, develops, operates and franchises the Chili’s Grill & Bar (Chili’s) and Maggiano’s Little Italy (Maggiano’s) restaurant brands. At September 24, 2014, the Company owned, operated or franchised 1,622 restaurants in the United States and 29 countries and two territories outside of the United States.
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