Insider Selling: Brinker International, Inc. (EAT) Insider Sells 33,683 Shares of Stock
Brinker International, Inc. (NYSE:EAT) insider Wyman Roberts sold 33,683 shares of Brinker International stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $37.88, for a total value of $1,275,912.04. Following the completion of the transaction, the insider now owns 137,572 shares in the company, valued at $5,211,227.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Brinker International, Inc. (NYSE EAT) traded down $1.25 during mid-day trading on Wednesday, hitting $37.69. The stock had a trading volume of 1,713,866 shares, compared to its average volume of 1,441,359. Brinker International, Inc. has a 52 week low of $29.50 and a 52 week high of $54.43. The company has a market cap of $1,793.74, a price-to-earnings ratio of 12.26, a P/E/G ratio of 1.22 and a beta of 0.24. The company has a debt-to-equity ratio of -2.51, a quick ratio of 0.28 and a current ratio of 0.34.
Brinker International (NYSE:EAT) last released its quarterly earnings data on Wednesday, November 1st. The restaurant operator reported $0.42 earnings per share for the quarter, missing the 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 prior year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. research analysts expect that Brinker International, Inc. will post 3.22 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 8th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.03%. Brinker International’s dividend payout ratio is currently 54.87%.
A number of equities analysts recently issued reports on EAT shares. Maxim Group restated a “buy” rating and issued a $49.00 target price (down from $54.00) on shares of Brinker International in a report on Wednesday, August 9th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $40.00 price target (down previously from $49.00) on shares of Brinker International in a report on Wednesday, August 9th. Barclays lowered their price target on Brinker International from $44.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, August 11th. Piper Jaffray Companies reiterated a “hold” rating on shares of Brinker International in a report on Friday, August 11th. Finally, BMO Capital Markets set a $36.00 price target on Brinker International and gave the company a “hold” rating in a report on Saturday, August 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $40.50.
Several hedge funds have recently added to or reduced their stakes in the company. AXA grew its stake in shares of Brinker International by 21.5% in the 3rd quarter. AXA now owns 186,760 shares of the restaurant operator’s stock valued at $5,950,000 after purchasing an additional 33,000 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Brinker International during the 3rd quarter worth approximately $1,299,000. Marco Investment Management LLC bought a new stake in Brinker International during the 3rd quarter worth approximately $427,000. Neuberger Berman Group LLC bought a new stake in Brinker International during the 3rd quarter worth approximately $306,000. Finally, California Public Employees Retirement System grew its position in Brinker International by 9.2% during the 3rd quarter. California Public Employees Retirement System now owns 185,780 shares of the restaurant operator’s stock worth $5,919,000 after acquiring an additional 15,726 shares during the last quarter.
Brinker International Company Profile
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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