Cubic Asset Management buys $7,557,901 stake in Brinker International (EAT)

Brinker International (EAT) : Cubic Asset Management scooped up 1,845 additional shares in Brinker International during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 139,625 shares of Brinker International which is valued at $7,557,901.Brinker International makes up approximately 2.48% of Cubic Asset Management’s portfolio.

Other Hedge Funds, Including , Meiji Yasuda Life Insurance Co reduced its stake in EAT by selling 6,600 shares or 30.66% in the most recent quarter. The Hedge Fund company now holds 14,928 shares of EAT which is valued at $808,053. Brinker International makes up approx 0.12% of Meiji Yasuda Life Insurance Co’s portfolio.Stevens Capital Management Lp reduced its stake in EAT by selling 116,686 shares or 89.31% in the most recent quarter. The Hedge Fund company now holds 13,969 shares of EAT which is valued at $756,142. Brinker International makes up approx 0.03% of Stevens Capital Management Lp’s portfolio.Ajo Lp reduced its stake in EAT by selling 50,889 shares or 7.39% in the most recent quarter. The Hedge Fund company now holds 637,357 shares of EAT which is valued at $29,554,244. Brinker International makes up approx 0.13% of Ajo Lp’s portfolio.First Quadrant L Pca boosted its stake in EAT in the latest quarter, The investment management firm added 97,723 additional shares and now holds a total of 97,846 shares of Brinker International which is valued at $4,697,586. Brinker International makes up approx 0.10% of First Quadrant L Pca’s portfolio.

Brinker International closed down -0.31 points or -0.58% at $53.4 with 16,07,512 shares getting traded on Thursday. Post opening the session at $53.53, the shares hit an intraday low of $53.09 and an intraday high of $53.98 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Brinker International reported $1.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 11, 2016. Analyst had a consensus of $1.23. The company had revenue of $881.70 million for the quarter, compared to analysts expectations of $881.19 million. The company’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS.

Investors should note that on Aug 18, 2016, Brinker International announced a cash dividend of $0.3400. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Sep 29, 2016.

Many Wall Street Analysts have commented on Brinker International. Company shares were Reiterated by Telsey Advisory Group on Aug 12, 2016 to “Outperform”, Firm has raised the Price Target to $ 60 from a previous price target of $56 .Company shares were Reiterated by Maxim Group on Aug 12, 2016 to “Buy”, Firm has raised the Price Target to $ 58 from a previous price target of $55 .Company shares were Reiterated by RBC Capital Mkts on Aug 12, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 55 from a previous price target of $49 .

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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