Insider Selling: Brinker International Director Unloads $368,261 in Stock (EAT)
Brinker International (NYSE:EAT) Director Harriet Edelman sold 7,514 shares of Brinker International stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $49.01, for a total transaction of $368,261.14. Following the sale, the director now directly owns 23,408 shares in the company, valued at approximately $1,147,226. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Brinker International (NYSE:EAT) traded up 0.77% during mid-day trading on Thursday, hitting $49.66. 953,443 shares of the company’s stock traded hands. Brinker International has a 52-week low of $38.40 and a 52-week high of $55.45. The stock has a 50-day moving average of $46.68 and a 200-day moving average of $49.57. The company has a market cap of $3.209 billion and a P/E ratio of 21.81.
Brinker International (NYSE:EAT) last released its earnings data on Thursday, August 7th. The company reported $0.85 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.47 by $0.38. The company had revenue of $758.73 million for the quarter, compared to the consensus estimate of $968.45 million. During the same quarter last year, the company posted $0.77 earnings per share. Brinker International’s revenue was up 3.9% compared to the same quarter last year. On average, analysts predict that Brinker International will post $3.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 25th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Wednesday, September 3rd. This is a boost from Brinker International’s previous quarterly dividend of $0.24.
A number of analysts have recently weighed in on EAT shares. Analysts at Wunderlich upgraded shares of Brinker International from a “hold” rating to a “buy” rating in a research note on Tuesday, August 19th. They now have a $55.00 price target on the stock, up previously from $52.00. Separately, analysts at Tigress Financial reiterated a “” rating on shares of Brinker International in a research note on Thursday, August 14th. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Brinker International in a research note on Monday, August 11th. They now have a $53.00 price target on the stock, down previously from $59.00. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. Brinker International presently has a consensus rating of “Buy” and a consensus target price of $47.81.
Brinker International, Inc (NYSE:EAT) owns, develops, operates and franchises the Chili’s Grill & Bar (Chili’s) and Maggiano’s Little Italy (Maggiano’s) restaurant brands.
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