Brinker International (NYSE:EAT) Shares Gap Down to $70.40

Brinker International, Inc. (NYSE:EAT)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $70.40, but opened at $60.60. Brinker International shares last traded at $60.30, with a volume of 2,125,312 shares.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. BMO Capital Markets lifted their target price on Brinker International from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Wedbush lifted their price objective on Brinker International from $56.00 to $68.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Argus raised shares of Brinker International from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a report on Tuesday, May 21st. Stifel Nicolaus boosted their price target on Brinker International from $62.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Finally, Morgan Stanley upped their price target on Brinker International from $42.00 to $50.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Brinker International has an average rating of “Hold” and a consensus price target of $57.34.

Brinker International Stock Performance

The stock has a market capitalization of $2.76 billion, a PE ratio of 17.95, a PEG ratio of 0.63 and a beta of 2.52. The business has a 50 day moving average of $67.60 and a two-hundred day moving average of $56.89.

Insiders Place Their Bets

In related news, COO Douglas N. Comings sold 2,953 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $72.97, for a total transaction of $215,480.41. Following the transaction, the chief operating officer now directly owns 38,164 shares in the company, valued at approximately $2,784,827.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, COO Douglas N. Comings sold 2,953 shares of Brinker International stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $72.97, for a total value of $215,480.41. Following the completion of the sale, the chief operating officer now directly owns 38,164 shares in the company, valued at approximately $2,784,827.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Prashant Ranade sold 1,100 shares of Brinker International stock in a transaction on Friday, May 17th. The stock was sold at an average price of $62.47, for a total transaction of $68,717.00. Following the sale, the director now owns 17,039 shares of the company’s stock, valued at $1,064,426.33. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,664 shares of company stock valued at $1,216,601. 1.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Brinker International

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Brinker International by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 5,535,500 shares of the restaurant operator’s stock valued at $275,004,000 after acquiring an additional 135,580 shares during the period. Boston Partners boosted its position in Brinker International by 231.8% during the first quarter. Boston Partners now owns 1,583,239 shares of the restaurant operator’s stock worth $78,602,000 after purchasing an additional 1,106,046 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Brinker International by 24.6% in the fourth quarter. Franklin Resources Inc. now owns 1,503,198 shares of the restaurant operator’s stock valued at $64,908,000 after buying an additional 296,785 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Brinker International by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 936,283 shares of the restaurant operator’s stock valued at $40,430,000 after buying an additional 4,294 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Brinker International by 9.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 632,484 shares of the restaurant operator’s stock worth $27,311,000 after buying an additional 53,657 shares during the period.

Brinker International Company Profile

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.