Insider Selling: Brinker International, Inc. (EAT) SVP Sells $111,012.00 in Stock
Brinker International, Inc. (NYSE:EAT) SVP Charles A. Lousignont sold 3,364 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $33.00, for a total transaction of $111,012.00. Following the completion of the sale, the senior vice president now owns 15,074 shares of the company’s stock, valued at $497,442. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Brinker International, Inc. (NYSE:EAT) traded up $0.35 during midday trading on Thursday, hitting $33.79. 1,497,800 shares of the company traded hands, compared to its average volume of 1,420,229. The company has a current ratio of 0.34, a quick ratio of 0.28 and a debt-to-equity ratio of -2.51. Brinker International, Inc. has a twelve month low of $29.50 and a twelve month high of $55.84. The company has a market capitalization of $1,547.94, a PE ratio of 10.58, a PEG ratio of 1.05 and a beta of 0.16.
Brinker International (NYSE:EAT) last released its earnings results on Wednesday, November 1st. The restaurant operator reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.01). Brinker International had a net margin of 4.39% and a negative return on equity of 30.36%. The company had revenue of $739.40 million during the quarter, compared to the consensus estimate of $749.05 million. During the same quarter in the previous year, the business posted $0.49 EPS. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. sell-side analysts predict that Brinker International, Inc. will post 3.22 earnings per share for the current year.
Brinker International announced that its board has authorized a stock buyback plan on Thursday, August 10th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the restaurant operator to reacquire up to 14.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EAT. FMR LLC lifted its stake in shares of Brinker International by 114.0% in the first quarter. FMR LLC now owns 495,250 shares of the restaurant operator’s stock valued at $21,771,000 after buying an additional 263,790 shares during the period. Legal & General Group Plc raised its position in Brinker International by 16.3% in the first quarter. Legal & General Group Plc now owns 44,328 shares of the restaurant operator’s stock worth $1,949,000 after purchasing an additional 6,210 shares in the last quarter. Thrivent Financial For Lutherans raised its position in Brinker International by 8.1% in the first quarter. Thrivent Financial For Lutherans now owns 9,245 shares of the restaurant operator’s stock worth $406,000 after purchasing an additional 690 shares in the last quarter. BlackRock Inc. raised its position in Brinker International by 10,393.8% in the first quarter. BlackRock Inc. now owns 3,975,272 shares of the restaurant operator’s stock worth $174,753,000 after purchasing an additional 3,937,390 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its position in Brinker International by 45.5% in the second quarter. Meeder Asset Management Inc. now owns 8,681 shares of the restaurant operator’s stock worth $331,000 after purchasing an additional 2,713 shares in the last quarter.
A number of equities research analysts recently issued reports on EAT shares. ValuEngine upgraded shares of Brinker International from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Zacks Investment Research cut shares of Brinker International from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Maxim Group restated a “buy” rating and set a $49.00 price target on shares of Brinker International in a report on Tuesday, September 12th. Royal Bank Of Canada restated a “sector perform” rating and set a $40.00 price target (down from $49.00) on shares of Brinker International in a report on Wednesday, August 9th. Finally, Canaccord Genuity restated a “hold” rating and set a $40.00 price target on shares of Brinker International in a report on Sunday, October 1st. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $40.50.
About Brinker International
Brinker International, Inc is engaged in the ownership, operation, development, and franchising of the Chili’s Grill & Bar (Chili’s) and Maggiano’s Little Italy (Maggiano’s) restaurant brands. The Company’s Chili’s operates Bar & Grill category of casual dining. Chili’s menu features authentic Fresh Mex and Fresh Tex cuisine, including signature items, such as Baby Back Ribs smoked in-house, Hand-Crafted Burgers served with house-made garlic dill pickles, Mix and Match Fajitas, Tableside Guacamole and house-made Chips and Salsa.
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