New York State Common Retirement Fund Has $2.59 Million Position in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

New York State Common Retirement Fund reduced its holdings in Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 33.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 212,436 shares of the restaurant operator’s stock after selling 108,588 shares during the period. New York State Common Retirement Fund owned 0.25% of Bloomin’ Brands worth $2,594,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its stake in Bloomin’ Brands by 6.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator’s stock valued at $41,806,000 after buying an additional 147,895 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in Bloomin’ Brands in the 3rd quarter valued at $41,325,000. Jennison Associates LLC increased its stake in Bloomin’ Brands by 4.4% in the 3rd quarter. Jennison Associates LLC now owns 1,411,200 shares of the restaurant operator’s stock valued at $23,327,000 after buying an additional 59,418 shares during the last quarter. FMR LLC increased its stake in Bloomin’ Brands by 34.8% in the 3rd quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock valued at $22,830,000 after buying an additional 356,456 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Bloomin’ Brands by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,255,059 shares of the restaurant operator’s stock valued at $20,746,000 after buying an additional 70,925 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BLMN. UBS Group lowered their price objective on shares of Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Raymond James lowered shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. BMO Capital Markets lowered their price objective on shares of Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating on the stock in a research note on Thursday. Piper Sandler lowered their price objective on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.00.

Bloomin’ Brands Stock Down 6.4 %

Shares of BLMN opened at $9.38 on Friday. Bloomin’ Brands, Inc. has a 52 week low of $9.16 and a 52 week high of $30.13. The firm has a market cap of $795.83 million, a P/E ratio of -85.26 and a beta of 1.97. The firm’s 50-day simple moving average is $11.85 and its 200 day simple moving average is $14.23. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31.

Bloomin’ Brands Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a yield of 6.40%. Bloomin’ Brands’s dividend payout ratio (DPR) is currently -40.27%.

Bloomin’ Brands Company Profile

Bloomin’ Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.