Reinhart Partners buys $25,741,292 stake in Brinker International (EAT)

Brinker International (EAT) : Reinhart Partners scooped up 154,918 additional shares in Brinker International during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 20, 2016. The investment management firm now holds a total of 532,946 shares of Brinker International which is valued at $25,741,292.Brinker International makes up approximately 2.48% of Reinhart Partners’s portfolio.

Other Hedge Funds, Including , Capital One National Association reduced its stake in EAT by selling 1,788 shares or 14.11% in the most recent quarter. The Hedge Fund company now holds 10,883 shares of EAT which is valued at $522,493. Brinker International makes up approx 0.04% of Capital One National Association’s portfolio.Eqis Capital Management reduced its stake in EAT by selling 321 shares or 2.93% in the most recent quarter. The Hedge Fund company now holds 10,628 shares of EAT which is valued at $506,424. Brinker International makes up approx 0.03% of Eqis Capital Management’s portfolio.Weaver C. Barksdale Associates boosted its stake in EAT in the latest quarter, The investment management firm added 40 additional shares and now holds a total of 313 shares of Brinker International which is valued at $14,993. Brinker International makes up approx 0.03% of Weaver C. Barksdale Associates’s portfolio.

Brinker International opened for trading at $47.95 and hit $48.28 on the upside on Wednesday, eventually ending the session at $48.01, with a gain of 0.31% or 0.15 points. The heightened volatility saw the trading volume jump to 4,15,564 shares. Company has a market cap of $2,675 M.

On the company’s financial health, Brinker International reported $1.00 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 19, 2016. Analyst had a consensus of $0.99. The company had revenue of $824.60 million for the quarter, compared to analysts expectations of $842.92 million. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS.

Many Wall Street Analysts have commented on Brinker International. Company shares were Reiterated by Telsey Advisory Group on Jul 7, 2016 to “Outperform”, Firm has raised the Price Target to $ 56 from a previous price target of $52 .Shares were Reiterated by Maxim Group on Jun 7, 2016 to “Buy” and Lowered the Price Target to $ 55 from a previous price target of $58 .Telsey Advisory Group Resumed Brinker International on Jun 6, 2016 to “Outperform”, Price Target of the shares are set at $52.

Brinker International Inc. (Brinker) owns develops operates and franchises the Chili’s Grill & Bar (Chili’s) and Maggiano’s Little Italy (Maggiano’s) restaurant brands. At September 24 2014 the Company owned operated or franchised 1622 restaurants in the United States and 29 countries and two territories outside of the United States. Chili’s operates in the Bar and Grill category of casual dining. The Company has operations around the world with locations in 32 foreign countries and two United States territories. Maggiano’s is a full-service casual dining Italian restaurant brand. Its Maggiano’s restaurants feature individual and family-style menus and its restaurants also have banquet facilities designed to host party business or social events.

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