Brinker International (NYSE:EAT) Shares Down 6.4% – Here’s What Happened

Brinker International, Inc. (NYSE:EAT) shares were down 6.4% during mid-day trading on Friday . The stock traded as low as $145.51 and last traded at $144.53. Approximately 183,205 shares traded hands during trading, a decline of 87% from the average daily volume of 1,393,339 shares. The stock had previously closed at $154.39.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. KeyCorp lowered shares of Brinker International from an “overweight” rating to a “sector weight” rating and set a $115.00 price objective for the company. in a research note on Friday, January 24th. Argus raised shares of Brinker International from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research report on Tuesday, December 24th. UBS Group upped their price objective on Brinker International from $108.00 to $146.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Wedbush lifted their target price on Brinker International from $140.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, BMO Capital Markets boosted their target price on Brinker International from $105.00 to $125.00 and gave the stock a “market perform” rating in a research note on Monday, January 27th. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Brinker International has a consensus rating of “Hold” and an average price target of $140.18.

Brinker International Stock Performance

The company has a current ratio of 0.33, a quick ratio of 0.27 and a debt-to-equity ratio of 4.96. The firm’s fifty day moving average price is $156.61 and its 200-day moving average price is $126.13. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 0.49 and a beta of 2.56.

Brinker International (NYSE:EAT) last released its quarterly earnings data on Wednesday, January 29th. The restaurant operator reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $1.43. Brinker International had a net margin of 5.45% and a return on equity of 879.47%. Analysts expect that Brinker International, Inc. will post 8.3 earnings per share for the current year.

Insider Activity at Brinker International

In related news, Director Cindy L. Davis sold 5,802 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $187.86, for a total value of $1,089,963.72. Following the completion of the sale, the director now owns 11,107 shares in the company, valued at $2,086,561.02. This represents a 34.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Douglas N. Comings sold 7,500 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $167.10, for a total transaction of $1,253,250.00. Following the transaction, the chief operating officer now directly owns 26,752 shares in the company, valued at $4,470,259.20. The trade was a 21.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,802 shares of company stock valued at $3,752,464 in the last three months. 1.72% of the stock is currently owned by company insiders.

Institutional Trading of Brinker International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in shares of Brinker International by 0.8% in the third quarter. Geode Capital Management LLC now owns 998,278 shares of the restaurant operator’s stock valued at $76,413,000 after purchasing an additional 8,105 shares during the period. Price T Rowe Associates Inc. MD grew its position in Brinker International by 3,277.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 987,334 shares of the restaurant operator’s stock valued at $130,615,000 after buying an additional 958,101 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in Brinker International in the 4th quarter valued at $82,408,000. Hennessy Advisors Inc. purchased a new position in Brinker International during the 4th quarter worth $81,888,000. Finally, Wellington Management Group LLP lifted its stake in shares of Brinker International by 55.1% in the 3rd quarter. Wellington Management Group LLP now owns 618,728 shares of the restaurant operator’s stock worth $47,351,000 after acquiring an additional 219,836 shares during the period.

Brinker International Company Profile

Brinker International, Inc, together with its subsidiaries, engages in the ownership, development, operation, and franchising of casual dining restaurants in the United States and internationally. It operates and franchises Chili's Grill & Bar and Maggiano's Little Italy restaurant brands.