Brinker International Target of Unusually Large Options Trading (EAT)

Brinker International, Inc. (NYSE:EAT) was the target of unusually large options trading on Tuesday. Stock investors acquired 4,365 call options on the stock. This represents an increase of 784% compared to the typical volume of 494 call options.

EAT has been the subject of a number of analyst reports. Royal Bank of Canada upgraded Brinker International from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $41.37 to $49.00 in a research note on Friday, April 27th. Canaccord Genuity restated a “hold” rating and set a $43.00 price objective on shares of Brinker International in a research note on Friday, April 20th. BMO Capital Markets upped their price objective on Brinker International from $38.00 to $42.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 2nd. Stifel Nicolaus upped their price objective on Brinker International from $38.00 to $45.00 and gave the stock a “hold” rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research upgraded Brinker International from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Tuesday, July 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $44.86.

In other Brinker International news, SVP David Roy Doyle sold 3,615 shares of the company’s stock in a transaction on Wednesday, June 13th. The stock was sold at an average price of $49.86, for a total value of $180,243.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kelli Valade sold 4,224 shares of the company’s stock in a transaction on Wednesday, June 13th. The stock was sold at an average price of $49.59, for a total value of $209,468.16. The disclosure for this sale can be found here. 1.91% of the stock is currently owned by corporate insiders.



A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Brinker International by 2.1% during the 1st quarter. BlackRock Inc. now owns 5,103,055 shares of the restaurant operator’s stock valued at $184,219,000 after buying an additional 106,420 shares in the last quarter. Cooke & Bieler LP increased its position in Brinker International by 1.6% during the 1st quarter. Cooke & Bieler LP now owns 1,551,302 shares of the restaurant operator’s stock valued at $56,002,000 after buying an additional 24,212 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Brinker International by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,310,802 shares of the restaurant operator’s stock valued at $62,397,000 after buying an additional 5,541 shares in the last quarter. Prudential Financial Inc. increased its position in Brinker International by 161.9% during the 1st quarter. Prudential Financial Inc. now owns 1,242,645 shares of the restaurant operator’s stock valued at $44,859,000 after buying an additional 768,154 shares in the last quarter. Finally, Contrarius Investment Management Ltd increased its position in Brinker International by 61.1% during the 2nd quarter. Contrarius Investment Management Ltd now owns 1,116,833 shares of the restaurant operator’s stock valued at $53,161,000 after buying an additional 423,705 shares in the last quarter.

Shares of NYSE:EAT opened at $43.16 on Wednesday. Brinker International has a 1 year low of $29.50 and a 1 year high of $54.14. The stock has a market cap of $1.94 billion and a P/E ratio of 13.49. The company has a current ratio of 0.32, a quick ratio of 0.27 and a debt-to-equity ratio of -2.24.

Brinker International (NYSE:EAT) last announced its earnings results on Tuesday, August 14th. The restaurant operator reported $1.19 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.19. Brinker International had a negative return on equity of 30.02% and a net margin of 4.24%. The company had revenue of $817.10 million for the quarter, compared to analyst estimates of $817.93 million. During the same period in the prior year, the company posted $1.09 EPS. The firm’s quarterly revenue was up .8% compared to the same quarter last year. research analysts expect that Brinker International will post 3.52 EPS for the current fiscal year.

About Brinker International

Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants worldwide. As of June 28, 2017, it owned, operated, or franchised 1,674 restaurants comprising 1,622 restaurants under the Chili's Grill & Bar brand name; and 52 restaurants under the Maggiano's Little Italy brand name.

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