Everence Capital Management Inc. Acquires Shares of 6,840 Brinker International, Inc. (NYSE:EAT)


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Everence Capital Management Inc. purchased a new stake in Brinker International, Inc. (NYSE:EAT) in the 1st quarter, HoldingsChannel reports. The fund purchased 6,840 shares of the restaurant operator’s stock, valued at approximately $486,000.

Other institutional investors have also recently bought and sold shares of the company. Strs Ohio acquired a new stake in Brinker International during the 3rd quarter valued at $34,000. Neo Ivy Capital Management purchased a new stake in Brinker International in the 3rd quarter worth about $58,000. Veriti Management LLC acquired a new stake in Brinker International during the 4th quarter worth about $114,000. Level Four Advisory Services LLC purchased a new position in Brinker International during the 4th quarter valued at about $201,000. Finally, Montag A & Associates Inc. acquired a new position in shares of Brinker International in the 4th quarter valued at about $202,000. 97.17% of the stock is owned by hedge funds and other institutional investors.

EAT has been the subject of several research reports. Zacks Investment Research cut shares of Brinker International from a “strong-buy” rating to a “hold” rating and set a $58.00 price target for the company. in a report on Monday, December 21st. JPMorgan Chase & Co. lifted their target price on shares of Brinker International from $60.00 to $72.00 and gave the company a “neutral” rating in a research note on Monday, March 15th. Stephens upped their price target on shares of Brinker International from $55.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, January 4th. Morgan Stanley lifted their price objective on Brinker International from $60.00 to $64.00 and gave the company an “equal weight” rating in a research report on Thursday, April 1st. Finally, MKM Partners boosted their target price on Brinker International from $75.00 to $82.00 in a research note on Thursday, April 1st. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $60.90.

NYSE:EAT opened at $68.38 on Monday. The company’s 50 day moving average is $71.88 and its 200-day moving average is $57.86. Brinker International, Inc. has a 12 month low of $14.00 and a 12 month high of $78.33. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 119.97, a P/E/G ratio of 1.08 and a beta of 2.65.

Brinker International (NYSE:EAT) last posted its earnings results on Tuesday, January 26th. The restaurant operator reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. The business had revenue of $760.70 million for the quarter, compared to analyst estimates of $756.79 million. Brinker International had a net margin of 0.67% and a negative return on equity of 12.26%. Brinker International’s revenue was down 12.5% compared to the same quarter last year. During the same period last year, the business posted $1.01 EPS. As a group, research analysts expect that Brinker International, Inc. will post 2.54 EPS for the current fiscal year.

In other news, EVP Rick Badgley sold 544 shares of the stock in a transaction that occurred on Thursday, February 4th. The stock was sold at an average price of $65.00, for a total value of $35,360.00. Following the completion of the sale, the executive vice president now directly owns 26,666 shares of the company’s stock, valued at $1,733,290. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Wyman Roberts sold 174,326 shares of the firm’s stock in a transaction on Tuesday, March 23rd. The stock was sold at an average price of $68.69, for a total transaction of $11,974,452.94. Following the completion of the sale, the chief executive officer now owns 427,258 shares in the company, valued at approximately $29,348,352.02. The disclosure for this sale can be found here. Insiders sold 187,870 shares of company stock worth $12,835,463 over the last quarter. 3.72% of the stock is currently owned by corporate insiders.

About Brinker International

Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants in the United States and internationally. As of June 24, 2020, it owned, operated, or franchised 1,663 restaurants comprising 1,610 restaurants under the Chili's Grill & Bar name and 53 restaurants under the Maggiano's Little Italy brand name.

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Institutional Ownership by Quarter for Brinker International (NYSE:EAT)

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