Brinker International, Inc. (NYSE:EAT) Sees Significant Decrease in Short Interest

Brinker International, Inc. (NYSE:EAT) saw a significant drop in short interest in March. As of March 31st, there was short interest totalling 5,850,000 shares, a drop of 6.4% from the March 15th total of 6,250,000 shares. Based on an average trading volume of 1,280,000 shares, the short-interest ratio is presently 4.6 days. Currently, 13.5% of the company’s stock are short sold.

Analysts Set New Price Targets

A number of research analysts have issued reports on EAT shares. JPMorgan Chase & Co. raised their price target on shares of Brinker International from $44.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Raymond James raised their price target on shares of Brinker International from $45.00 to $50.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 1st. StockNews.com cut shares of Brinker International from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Royal Bank of Canada raised their price target on shares of Brinker International from $43.00 to $46.00 and gave the stock a “sector perform” rating in a report on Thursday, February 1st. Finally, Gordon Haskett raised shares of Brinker International from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Tuesday, January 16th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Brinker International has a consensus rating of “Hold” and a consensus price target of $43.36.

Insider Buying and Selling at Brinker International

In other Brinker International news, CFO Joseph G. Taylor sold 24,163 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $44.97, for a total value of $1,086,610.11. Following the completion of the sale, the chief financial officer now directly owns 56,661 shares in the company, valued at $2,548,045.17. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EAT. JPMorgan Chase & Co. increased its holdings in Brinker International by 224.6% in the first quarter. JPMorgan Chase & Co. now owns 254,950 shares of the restaurant operator’s stock valued at $9,729,000 after buying an additional 176,405 shares in the last quarter. Raymond James & Associates grew its position in shares of Brinker International by 74.4% in the first quarter. Raymond James & Associates now owns 58,426 shares of the restaurant operator’s stock valued at $2,230,000 after purchasing an additional 24,923 shares during the period. Cetera Advisor Networks LLC acquired a new stake in shares of Brinker International in the first quarter valued at about $237,000. MetLife Investment Management LLC grew its position in shares of Brinker International by 53.4% in the first quarter. MetLife Investment Management LLC now owns 24,327 shares of the restaurant operator’s stock valued at $928,000 after purchasing an additional 8,465 shares during the period. Finally, Rhumbline Advisers grew its position in shares of Brinker International by 3.1% in the first quarter. Rhumbline Advisers now owns 121,256 shares of the restaurant operator’s stock valued at $4,627,000 after purchasing an additional 3,610 shares during the period.

Brinker International Stock Performance

EAT opened at $44.06 on Thursday. Brinker International has a fifty-two week low of $28.23 and a fifty-two week high of $51.72. The company has a fifty day moving average of $46.84 and a two-hundred day moving average of $40.79. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 0.73 and a beta of 2.46.

Brinker International (NYSE:EAT) last released its quarterly earnings data on Wednesday, January 31st. The restaurant operator reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.05. Brinker International had a net margin of 3.63% and a negative return on equity of 113.41%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.08 billion. On average, equities research analysts forecast that Brinker International will post 3.71 earnings per share for the current year.

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.