BlackRock Fund Advisors recently announced the acquisition of new stake in Brinker International Inc. (NYSE:EAT). The institutional investor has increased its shareholding in the Consumer Cyclical company by 58.70% to 6.25 million shares with purchase of 2.31 million shares. This fresh investment now brings its stake to 16.95% valued currently at $168.18 million. In addition, Samlyn Capital LLC raised its holdings by 2.93 million to 2.93 million shares. And AQR Capital Management LLC has lifted its position by 179.27% or 1.44 million shares – to 2.25 million shares.
With over 3.63 million Brinker International Inc. (EAT) shares trading Friday and a closing price of $45.61 on the day, the dollar volume was approximately $165.53 million. The shares have shown a positive weekly performance of 18.50% and its price on 08/28/20 gained nearly 13.18%. Currently, there are 44.96M common shares owned by the public and among those 41.50M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 24 analysts who have offered their price forecasts for EAT have a consensus price objective of $40.19. The analysts have set the share’s price value over the next 12 months at a high of $46.00 and a low of $33.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Brinker International Inc. stock is 2.40 for the next 12 months. The average price target is -18.1% below its last price level and a downside to the estimated low will see the stock lose -38.21% over that period. But an upside of 0.85% will see the stock hit the forecast high price target while mean target price for the stock is $40.00.
Insiders at the company have transacted a total of 54 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 35 of these insider trades were purchases, accounting for 153,146 shares. Insider sales of the common stock occurred on 19 occasions, with total insider shares sold totaling 75,723 shares.
The top 3 mutual fund holders in Brinker International Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund. iShares Core S&P Small Cap ETF owns 2.81 million shares of the company’s stock, all valued at over $75.45 million. The company bought an additional 17637.0 shares recently to bring their total holdings to about 7.60% of the shares outstanding. Vanguard Total Stock Market Index sold 896.0 shares to see its total holdings shrink to 1.25 million shares valued at over $33.66 million and representing 3.39% of the shares outstanding. Vanguard Small Cap Index Fund sold 6440.0 shares to bring its total holdings to over 1.09 million shares at a value of $29.42 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.97% of the shares outstanding.
Shares of Brinker International Inc. (NYSE: EAT) opened at $41.10, up $0.8 from a prior closing price of $40.30. However, the script later closed the day at $45.61, up 13.18%. The company’s stock has a 5-day price change of 18.50% and 67.50% over the past three months. EAT shares are trading 8.60% year to date (YTD), with the 12-month market performance up to 18.44% higher. It has a 12-month low price of $7.00 and touched a high of $47.57 over the same period. Currently, 3.63 million shares have been traded, compared to an average intraday trading volume of 2.97 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 33.63%, 61.78%, and 49.56% respectively.
Institutional ownership of Brinker International Inc. (NYSE: EAT) 44.96M shares outstanding. Mutual fund holders own 6.90%, while other institutional holders and individual stakeholders account for 67.38% and 54.00% respectively.
It has a market capitalization of $1.82B and a beta (3y monthly) value of 2.45. The stock’s trailing 12-month PE ratio is 62.05, while the earnings-per-share (ttm) stands at $0.74. The company has a PEG of 7.33 and a Quick Ratio of 0.40. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.55% over the week and 6.23% over the month.
Analysts forecast that Brinker International Inc. (EAT) will achieve an EPS of -$0.24 for the current quarter, $0.41 for the next quarter and $3.37 for 2022. The lowest estimate earnings-per-share for the quarter is -$0.55 while analysts give the company a high EPS estimate of $0.17. Comparatively, EPS for the current quarter was $0.41 a year ago. Earnings per share for the fiscal year are expected to decrease by -84.20%, and 64.70% over the next financial year. EPS should grow at an annualized rate of 8.47% over the next five years, compared to -27.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 24 brokerage firm advisors rate Brinker International Inc. (EAT) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 12 of the 24 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the EAT, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on August 28, 2020, with the firm’s price target at $39. Telsey Advisory Group coverage for the Brinker International Inc. (EAT) stock in a research note released on August 18, 2020 offered a Outperform rating with a price target of $42. Deutsche Bank was of a view on August 17, 2020 that the stock is Buy, while BofA Securities gave the stock Neutral rating on August 17, 2020, issuing a price target of $40. Gordon Haskett on their part issued Buy rating on August 13, 2020.