JPMorgan Chase & Co. Has $3.17 Million Position in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

JPMorgan Chase & Co. trimmed its holdings in Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 13.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 259,278 shares of the restaurant operator’s stock after selling 40,890 shares during the period. JPMorgan Chase & Co. owned about 0.31% of Bloomin’ Brands worth $3,166,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. boosted its holdings in Bloomin’ Brands by 565.9% during the 4th quarter. American Century Companies Inc. now owns 1,791,366 shares of the restaurant operator’s stock worth $21,873,000 after acquiring an additional 1,522,370 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of Bloomin’ Brands by 40.6% in the fourth quarter. Prudential Financial Inc. now owns 1,024,543 shares of the restaurant operator’s stock valued at $12,510,000 after purchasing an additional 295,641 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Bloomin’ Brands during the fourth quarter valued at about $2,882,000. Sei Investments Co. boosted its holdings in Bloomin’ Brands by 86.0% during the fourth quarter. Sei Investments Co. now owns 381,248 shares of the restaurant operator’s stock worth $4,655,000 after purchasing an additional 176,240 shares during the last quarter. Finally, Xcel Wealth Management LLC grew its position in Bloomin’ Brands by 70.2% in the 4th quarter. Xcel Wealth Management LLC now owns 422,114 shares of the restaurant operator’s stock worth $5,154,000 after purchasing an additional 174,036 shares in the last quarter.

Insider Transactions at Bloomin’ Brands

In other Bloomin’ Brands news, EVP Patrick M. Hafner sold 9,555 shares of Bloomin’ Brands stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $8.32, for a total value of $79,497.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

BLMN has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Bloomin’ Brands from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. Bank of America cut Bloomin’ Brands from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $18.00 to $13.00 in a research report on Monday, January 27th. BMO Capital Markets lowered their target price on Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating on the stock in a research note on Thursday, February 27th. Barclays set a $11.00 price target on shares of Bloomin’ Brands and gave the company an “equal weight” rating in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group decreased their target price on shares of Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating on the stock in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. Based on data from MarketBeat.com, Bloomin’ Brands currently has a consensus rating of “Hold” and an average price target of $14.50.

Bloomin’ Brands Trading Up 5.7 %

Shares of NASDAQ BLMN opened at $8.40 on Tuesday. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22. The stock has a market cap of $713.42 million, a P/E ratio of -76.36 and a beta of 1.76. The firm has a 50-day moving average of $8.64 and a 200 day moving average of $11.78. Bloomin’ Brands, Inc. has a 1 year low of $6.09 and a 1 year high of $27.33.

Bloomin’ Brands Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 7.14%. The ex-dividend date was Tuesday, March 11th. Bloomin’ Brands’s dividend payout ratio (DPR) is -40.27%.

About Bloomin’ Brands

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.