Raymond James upgraded shares of Brinker International (NYSE:EAT) from a market perform rating to an outperform rating in a research report released on Tuesday morning, MarketBeat.com reports.
A number of other equities analysts also recently weighed in on EAT. BMO Capital Markets downgraded shares of Brinker International from an outperform rating to an underperform rating and cut their price target for the stock from $43.00 to $40.00 in a research note on Monday, September 24th. Gordon Haskett initiated coverage on shares of Brinker International in a research note on Thursday, October 18th. They set a hold rating and a $44.00 price target on the stock. Loop Capital initiated coverage on shares of Brinker International in a research note on Wednesday, October 24th. They set a hold rating and a $50.00 price target on the stock. Maxim Group reaffirmed a buy rating and set a $55.00 price target on shares of Brinker International in a research note on Tuesday, October 30th. Finally, Morgan Stanley increased their price target on shares of Brinker International from $38.00 to $40.00 and gave the stock an underweight rating in a research note on Wednesday, October 31st. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $46.31.
Shares of EAT traded down $0.55 on Tuesday, hitting $48.82. 27,873 shares of the stock traded hands, compared to its average volume of 1,055,372. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.53 and a beta of 0.25. Brinker International has a 1 year low of $32.03 and a 1 year high of $54.14.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 27th. Investors of record on Friday, December 7th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Thursday, December 6th. Brinker International’s payout ratio is 43.43%.
In other Brinker International news, insider Wyman Roberts sold 35,478 shares of the firm’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $47.55, for a total transaction of $1,686,978.90. Following the completion of the transaction, the insider now directly owns 149,991 shares of the company’s stock, valued at approximately $7,132,072.05. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michaela M. Ware sold 2,078 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $48.61, for a total transaction of $101,011.58. Following the transaction, the vice president now directly owns 11,633 shares of the company’s stock, valued at $565,480.13. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,539 shares of company stock valued at $2,692,195. Company insiders own 2.72% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. First Hawaiian Bank lifted its position in shares of Brinker International by 164.2% in the 4th quarter. First Hawaiian Bank now owns 1,770 shares of the restaurant operator’s stock worth $78,000 after buying an additional 1,100 shares during the last quarter. Stratos Wealth Partners LTD. bought a new stake in Brinker International in the 3rd quarter valued at about $138,000. Sei Investments Co. lifted its position in Brinker International by 913.2% in the 2nd quarter. Sei Investments Co. now owns 3,597 shares of the restaurant operator’s stock valued at $171,000 after purchasing an additional 3,242 shares during the last quarter. Zeke Capital Advisors LLC bought a new stake in Brinker International in the 3rd quarter valued at about $266,000. Finally, IFP Advisors Inc lifted its position in Brinker International by 127.4% in the 3rd quarter. IFP Advisors Inc now owns 5,788 shares of the restaurant operator’s stock valued at $270,000 after purchasing an additional 3,243 shares during the last quarter.
Brinker International Company Profile
Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants in the United States and internationally. As of June 27, 2018, it owned, operated, or franchised 1,686 restaurants comprising 997 company-owned restaurants and 689 franchised restaurants under the Chili's Grill & Bar and Maggiano's Little Italy brand names.
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