Insider Selling: Brinker International (NYSE:EAT) CEO Sells $9,656,400.00 in Stock

Key Points

• CEO Kevin Hochman sold 40,000 Brinker International shares at an average price of $241.41, generating $9.66 million and reducing his position by 30.81% to 89,824 shares.
• Brinker reported quarterly revenue of $1.54 billion, up 5.1% year over year, but earnings per share of $3.07 narrowly missed analysts’ $3.09 estimate.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $238.05; several firms recently raised their targets, including Bank of America to $310.

Brinker International, Inc. (NYSE:EAT - Get Free Report) CEO Kevin Hochman sold 40,000 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $241.41, for a total value of $9,656,400.00. Following the completion of the sale, the chief executive officer owned 89,824 shares in the company, valued at approximately $21,684,411.84. This trade represents a 30.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Brinker International Stock Performance

EAT stock traded up $4.96 during midday trading on Monday, reaching $242.11. 924,214 shares of the company were exchanged, compared to its average volume of 1,172,871. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.45 and a quick ratio of 0.35. The business has a 50-day moving average price of $186.95 and a two-hundred day moving average price of $160.75. Brinker International, Inc. has a one year low of $100.30 and a one year high of $253.71. The firm has a market capitalization of $10.38 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 1.32 and a beta of 1.23.

Brinker International (NYSE:EAT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The restaurant operator reported $3.07 earnings per share for the quarter, missing the consensus estimate of $3.09 by ($0.02). The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Brinker International had a net margin of 8.39% and a return on equity of 122.35%. Brinker International's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.30 earnings per share. Brinker International has set its FY 2027 guidance at 12.600-13.400 EPS. Equities research analysts forecast that Brinker International, Inc. will post 13.19 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Bank of America raised their price objective on shares of Brinker International from $224.00 to $310.00 and gave the stock a "buy" rating in a research report on Friday. Piper Sandler increased their target price on Brinker International from $166.00 to $240.00 and gave the stock a "neutral" rating in a research note on Monday. Stephens lifted their price target on Brinker International from $220.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday. Citigroup boosted their price target on Brinker International from $227.00 to $282.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Morgan Stanley increased their price objective on Brinker International from $207.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday. Sixteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $238.05.

Institutional Investors Weigh In On Brinker International

A number of large investors have recently added to or reduced their stakes in EAT. NewEdge Advisors LLC raised its holdings in Brinker International by 1,118.9% in the 1st quarter. NewEdge Advisors LLC now owns 1,158 shares of the restaurant operator's stock valued at $173,000 after acquiring an additional 1,063 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Brinker International by 271.1% in the second quarter. EverSource Wealth Advisors LLC now owns 846 shares of the restaurant operator's stock worth $153,000 after purchasing an additional 618 shares during the period. First Trust Advisors LP raised its stake in Brinker International by 1.9% in the second quarter. First Trust Advisors LP now owns 52,249 shares of the restaurant operator's stock valued at $9,422,000 after purchasing an additional 978 shares in the last quarter. Baird Financial Group Inc. bought a new stake in Brinker International during the second quarter worth about $3,222,000. Finally, Brown Advisory Inc. grew its stake in Brinker International by 33.0% during the second quarter. Brown Advisory Inc. now owns 1,789 shares of the restaurant operator's stock worth $323,000 after buying an additional 444 shares in the last quarter.

Brinker International Company Profile

Brinker International, Inc NYSE: EAT is a leading global operator of casual dining restaurants. The company's portfolio is anchored by its flagship Chili's® Grill & Bar concept and Maggiano's® Little Italy full‐service restaurants, offering a range of American‐style menu items, handcrafted cocktails and family‐friendly dining experiences. Through dine‐in, takeout, delivery and catering services, Brinker seeks to meet consumer preferences across multiple channels.

The Chili's brand features signature items such as baby back ribs, burgers and fajitas alongside a rotating selection of limited‐time offerings and seasonal beverages.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source