Peconic Partners adds Brinker International (EAT) to its portfolio

Brinker International (EAT) : Peconic Partners added new position in Brinker International during the most recent quarter end. The investment management firm now holds 99,865 shares of Brinker International which is valued at $5,405,692 , the company said in a statement filed on Aug 15, 2016 with the SEC.Brinker International makes up approximately 0.94% of Peconic Partners’s portfolio.

Other Hedge Funds, Including , Ns Partners Ltd boosted its stake in EAT in the latest quarter, The investment management firm added 491 additional shares and now holds a total of 21,574 shares of Brinker International which is valued at $1,167,801. Brinker International makes up approx 0.19% of Ns Partners Ltd’s portfolio. Cable Hill Partners added EAT to its portfolio by purchasing 52 company shares during the most recent quarter which is valued at $2,815. O’shaughnessy Asset Management added EAT to its portfolio by purchasing 8 company shares during the most recent quarter which is valued at $433.Vanguard Group Inc boosted its stake in EAT in the latest quarter, The investment management firm added 42,116 additional shares and now holds a total of 4,600,662 shares of Brinker International which is valued at $249,033,834. Brinker International makes up approx 0.01% of Vanguard Group Inc’s portfolio.Tdam Usa reduced its stake in EAT by selling 1,613 shares or 2.52% in the most recent quarter. The Hedge Fund company now holds 62,426 shares of EAT which is valued at $2,912,173. Brinker International makes up approx 0.14% of Tdam Usa’s portfolio.

Brinker International opened for trading at $53.19 and hit $53.76 on the upside on Wednesday, eventually ending the session at $53.69, with a gain of 1.09% or 0.58 points. The heightened volatility saw the trading volume jump to 1,133,939 shares. Company has a market cap of $2,949 M.

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.

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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