Short Interest in Brinker International, Inc. (NYSE:EAT) Decreases By 8.1%

Brinker International, Inc. (NYSE:EAT) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 5,580,000 shares, a decline of 8.1% from the October 15th total of 6,070,000 shares. Based on an average daily trading volume, of 1,510,000 shares, the days-to-cover ratio is currently 3.7 days. Currently, 12.8% of the company’s shares are sold short.

Brinker International Stock Performance

Shares of NYSE EAT traded down $0.61 during midday trading on Tuesday, hitting $122.29. The company’s stock had a trading volume of 111,438 shares, compared to its average volume of 1,448,128. The company has a debt-to-equity ratio of 63.54, a quick ratio of 0.26 and a current ratio of 0.32. Brinker International has a 1-year low of $34.77 and a 1-year high of $123.66. The firm’s fifty day moving average price is $91.01 and its 200-day moving average price is $75.47. The firm has a market cap of $5.43 billion, a P/E ratio of 29.98, a P/E/G ratio of 1.30 and a beta of 2.46.

Brinker International (NYSE:EAT) last issued its earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.26. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.10 billion. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%. Brinker International’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 earnings per share. On average, sell-side analysts forecast that Brinker International will post 5.52 EPS for the current fiscal year.

Insider Buying and Selling at Brinker International

In related news, CFO Michaela M. Ware sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $103.02, for a total value of $386,634.06. Following the sale, the chief financial officer now directly owns 23,071 shares of the company’s stock, valued at approximately $2,376,774.42. This trade represents a 13.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC acquired a new position in shares of Brinker International during the first quarter valued at $25,000. CWM LLC boosted its stake in Brinker International by 96.2% during the 2nd quarter. CWM LLC now owns 416 shares of the restaurant operator’s stock valued at $30,000 after purchasing an additional 204 shares during the period. Covestor Ltd grew its position in Brinker International by 32,500.0% in the 1st quarter. Covestor Ltd now owns 1,304 shares of the restaurant operator’s stock worth $65,000 after purchasing an additional 1,300 shares during the last quarter. Signaturefd LLC increased its stake in shares of Brinker International by 33.2% in the second quarter. Signaturefd LLC now owns 986 shares of the restaurant operator’s stock valued at $71,000 after purchasing an additional 246 shares during the period. Finally, Quest Partners LLC raised its holdings in shares of Brinker International by 1,265.2% during the second quarter. Quest Partners LLC now owns 1,884 shares of the restaurant operator’s stock valued at $136,000 after buying an additional 1,746 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EAT. Bank Of America (Bofa) increased their price target on shares of Brinker International from $94.00 to $97.00 in a research note on Tuesday, October 29th. Stifel Nicolaus raised their target price on shares of Brinker International from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Argus cut Brinker International from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Piper Sandler lifted their price objective on shares of Brinker International from $62.00 to $97.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, BMO Capital Markets cut shares of Brinker International from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $80.00 to $105.00 in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $86.45.

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.