Arvest Bank Trust Division Lowers stake in Brinker International (EAT)

Brinker International (EAT) : Arvest Bank Trust Division reduced its stake in Brinker International by 0.65% during the most recent quarter end. The investment management company now holds a total of 198,302 shares of Brinker International which is valued at $9,966,659 after selling 1,299 shares in Brinker International , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Brinker International makes up approximately 0.84% of Arvest Bank Trust Division’s portfolio.

Other Hedge Funds, Including , Central Bank Trust Co sold out all of its stake in EAT during the most recent quarter. The investment firm sold 36 shares of EAT which is valued $1,809.Bnp Paribas Arbitrage Sa reduced its stake in EAT by selling 16,086 shares or 52.16% in the most recent quarter. The Hedge Fund company now holds 14,754 shares of EAT which is valued at $739,618.Eqis Capital Management reduced its stake in EAT by selling 4,444 shares or 41.81% in the most recent quarter. The Hedge Fund company now holds 6,184 shares of EAT which is valued at $310,004. Brinker International makes up approx 0.02% of Eqis Capital Management’s portfolio.

Brinker International closed down -0.25 points or -0.49% at $50.26 with 9,52,278 shares getting traded on Friday. Post opening the session at $50.58, the shares hit an intraday low of $49.95 and an intraday high of $50.64 and the price fluctuated in this range throughout the day.Shares ended Friday 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.

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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