Insider Selling: Brinker International, Inc. (NYSE:EAT) Director Sells 8,325 Shares of Stock

Key Points

• Director Harriet Edelman of Brinker International, Inc. sold 8,325 shares of stock on August 14th at an average price of $157.00, totaling over $1.3 million and reducing her ownership by 22.36%.
• Brinker posted $2.49 earnings per share for the last quarter, surpassing estimates by $0.02, with a revenue increase of 21.0% year-over-year.
• Recent analyst upgrades have set a consensus target price for Brinker International at $171.41, with the stock currently trading around $158.04.

Brinker International, Inc. (NYSE:EAT - Get Free Report) Director Harriet Edelman sold 8,325 shares of Brinker International stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $157.00, for a total value of $1,307,025.00. Following the completion of the transaction, the director owned 28,905 shares of the company's stock, valued at approximately $4,538,085. This trade represents a 22.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Brinker International Price Performance

NYSE:EAT traded down $0.04 during midday trading on Friday, hitting $158.04. 1,290,619 shares of the stock were exchanged, compared to its average volume of 1,500,242. The business has a 50-day moving average price of $168.26 and a two-hundred day moving average price of $158.40. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 19.02, a P/E/G ratio of 0.36 and a beta of 1.68. The company has a current ratio of 0.31, a quick ratio of 0.23 and a debt-to-equity ratio of 1.15. Brinker International, Inc. has a one year low of $65.26 and a one year high of $192.21.

Brinker International (NYSE:EAT - Get Free Report) last posted its earnings results on Wednesday, August 13th. The restaurant operator reported $2.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.47 by $0.02. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.42 billion. Brinker International had a net margin of 7.12% and a return on equity of 211.86%. Brinker International's revenue was up 21.0% compared to the same quarter last year. During the same period last year, the business posted $1.61 EPS. Sell-side analysts predict that Brinker International, Inc. will post 8.3 EPS for the current year.

Institutional Trading of Brinker International

A number of hedge funds have recently modified their holdings of EAT. Concord Wealth Partners acquired a new stake in shares of Brinker International during the 2nd quarter worth approximately $25,000. Allworth Financial LP increased its holdings in Brinker International by 105.8% during the second quarter. Allworth Financial LP now owns 142 shares of the restaurant operator's stock worth $26,000 after buying an additional 73 shares during the last quarter. AdvisorNet Financial Inc purchased a new position in Brinker International during the second quarter valued at approximately $33,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Brinker International in the 2nd quarter worth about $34,000. Finally, Farther Finance Advisors LLC lifted its stake in Brinker International by 575.0% in the first quarter. Farther Finance Advisors LLC now owns 189 shares of the restaurant operator's stock worth $29,000 after acquiring an additional 161 shares during the period.

Analyst Upgrades and Downgrades

EAT has been the subject of several analyst reports. UBS Group upped their price objective on Brinker International from $155.00 to $165.00 and gave the company a "neutral" rating in a research note on Thursday. Piper Sandler raised their target price on shares of Brinker International from $155.00 to $168.00 and gave the company a "neutral" rating in a report on Thursday. Stifel Nicolaus raised their price objective on shares of Brinker International from $200.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Morgan Stanley lifted their price objective on Brinker International from $149.00 to $161.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, Wells Fargo & Company lifted their price target on shares of Brinker International from $150.00 to $165.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Thirteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $171.41.

About Brinker International

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.

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