Victory Capital Management Inc. increased its position in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN – Get Rating) by 7.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,674,377 shares of the restaurant operator’s stock after buying an additional 121,291 shares during the period. Victory Capital Management Inc.’s holdings in Bloomin’ Brands were worth $36,737,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in BLMN. Jennison Associates LLC boosted its position in Bloomin’ Brands by 0.5% during the fourth quarter. Jennison Associates LLC now owns 2,372,257 shares of the restaurant operator’s stock worth $49,770,000 after purchasing an additional 10,740 shares during the period. Westwood Holdings Group Inc. lifted its position in Bloomin’ Brands by 127.0% during the fourth quarter. Westwood Holdings Group Inc. now owns 2,192,892 shares of the restaurant operator’s stock worth $46,007,000 after purchasing an additional 1,226,957 shares during the period. William Blair Investment Management LLC bought a new stake in Bloomin’ Brands during the fourth quarter worth about $45,490,000. Citigroup Inc. lifted its position in Bloomin’ Brands by 120.2% during the fourth quarter. Citigroup Inc. now owns 1,661,771 shares of the restaurant operator’s stock worth $34,864,000 after purchasing an additional 907,013 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Bloomin’ Brands by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,221,735 shares of the restaurant operator’s stock worth $25,632,000 after purchasing an additional 85,273 shares during the period.
Analyst Ratings Changes
BLMN has been the subject of several recent analyst reports. Citigroup set a $20.00 price objective on shares of Bloomin’ Brands in a research report on Tuesday, July 19th. StockNews.com raised shares of Bloomin’ Brands from a “hold” rating to a “buy” rating in a research report on Monday. Jefferies Financial Group reissued a “buy” rating and set a $36.00 target price on shares of Bloomin’ Brands in a research note on Wednesday, April 13th. Barclays lowered their target price on Bloomin’ Brands from $29.00 to $26.00 in a research note on Thursday, June 9th. Finally, Morgan Stanley boosted their target price on Bloomin’ Brands from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.50.
Insider Buying and Selling at Bloomin’ Brands
Bloomin’ Brands Stock Performance
Bloomin’ Brands stock opened at $20.49 on Tuesday. The business has a 50 day moving average of $18.38 and a 200-day moving average of $20.42. Bloomin’ Brands, Inc. has a 1 year low of $15.89 and a 1 year high of $27.69. The company has a debt-to-equity ratio of 2.42, a current ratio of 0.29 and a quick ratio of 0.22. The company has a market capitalization of $1.82 billion, a P/E ratio of 32.52 and a beta of 1.88.
Bloomin’ Brands (NASDAQ:BLMN – Get Rating) last released its earnings results on Friday, July 29th. The restaurant operator reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. Bloomin’ Brands had a net margin of 1.76% and a return on equity of 113.44%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.81 EPS. On average, equities research analysts predict that Bloomin’ Brands, Inc. will post 2.49 earnings per share for the current year.
Bloomin’ Brands Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Tuesday, August 9th. Bloomin’ Brands’s dividend payout ratio is presently 88.89%.
Bloomin’ Brands Company Profile
Bloomin' Brands, Inc, through its subsidiaries, owns and operates casual, upscale casual, and fine dining restaurants in the United States and internationally. The company operates through two segments, U.S. and International. Its restaurant portfolio has four concepts, including Outback Steakhouse, a casual steakhouse restaurant; Carrabba's Italian Grill, a casual Italian restaurant; Bonefish Grill; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
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