Brinker International, Inc. (NYSE:EAT) Director Prashant Ranade Acquires 500 Shares

Brinker International, Inc. (NYSE:EATGet Rating) Director Prashant Ranade purchased 500 shares of the company’s stock in a transaction that occurred on Tuesday, May 24th. The stock was bought at an average price of $25.40 per share, for a total transaction of $12,700.00. Following the transaction, the director now directly owns 11,307 shares in the company, valued at $287,197.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of Brinker International stock traded up $1.41 during trading hours on Thursday, reaching $29.25. 1,064,257 shares of the company’s stock were exchanged, compared to its average volume of 1,191,072. Brinker International, Inc. has a 52-week low of $25.14 and a 52-week high of $65.21. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 0.91 and a beta of 2.33. The company has a fifty day moving average of $35.23 and a 200-day moving average of $36.82.

Brinker International (NYSE:EATGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The restaurant operator reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.07). The business had revenue of $980.40 million for the quarter, compared to analysts’ expectations of $978.08 million. Brinker International had a negative return on equity of 53.59% and a net margin of 4.02%. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 EPS. As a group, equities analysts forecast that Brinker International, Inc. will post 3.15 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH acquired a new stake in shares of Brinker International during the 3rd quarter worth $1,782,000. Easterly Investment Partners LLC acquired a new stake in shares of Brinker International during the 3rd quarter worth $2,126,000. Nordea Investment Management AB increased its holdings in shares of Brinker International by 55.0% during the 4th quarter. Nordea Investment Management AB now owns 1,917,224 shares of the restaurant operator’s stock worth $70,631,000 after buying an additional 680,075 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Brinker International by 54.7% during the 4th quarter. Lazard Asset Management LLC now owns 173,307 shares of the restaurant operator’s stock worth $6,341,000 after buying an additional 61,286 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in Brinker International by 56.9% in the 3rd quarter. Marshall Wace LLP now owns 108,925 shares of the restaurant operator’s stock valued at $5,343,000 after purchasing an additional 39,522 shares in the last quarter. Institutional investors and hedge funds own 99.38% of the company’s stock.

Several research firms have issued reports on EAT. Wedbush boosted their target price on Brinker International from $36.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, February 3rd. KeyCorp dropped their target price on Brinker International from $47.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, March 17th. Royal Bank of Canada boosted their target price on Brinker International from $38.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 3rd. Jefferies Financial Group dropped their target price on Brinker International from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, February 3rd. Finally, Stephens boosted their target price on Brinker International from $45.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.47.

About Brinker International (Get Rating)

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. The company operates in two segments, Chili's and Maggiano's. As of June 30, 2021, it owned, operated, or franchised 1,648 restaurants comprising 1,594 restaurants under the Chili's Grill & Bar name and 54 restaurants under the Maggiano's Little Italy brand name.

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