Jennison Associates LLC purchased a new position in Bloomin' Brands Inc (NASDAQ:BLMN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,211 shares of the restaurant operator’s stock, valued at approximately $620,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Numeric Investors LLC bought a new position in shares of Bloomin' Brands in the second quarter worth approximately $4,573,000. Stevens Capital Management LP boosted its holdings in Bloomin' Brands by 57.7% in the third quarter. Stevens Capital Management LP now owns 18,849 shares of the restaurant operator’s stock valued at $332,000 after acquiring an additional 6,900 shares in the last quarter. Capital Fund Management S.A. bought a new stake in shares of Bloomin' Brands during the 2nd quarter valued at $1,076,000. Earnest Partners LLC boosted its holdings in shares of Bloomin' Brands by 1.1% during the 2nd quarter. Earnest Partners LLC now owns 3,955,188 shares of the restaurant operator’s stock valued at $83,969,000 after buying an additional 43,963 shares in the last quarter. Finally, Chicago Equity Partners LLC boosted its holdings in shares of Bloomin' Brands by 749.7% during the 2nd quarter. Chicago Equity Partners LLC now owns 234,090 shares of the restaurant operator’s stock valued at $4,970,000 after buying an additional 206,540 shares in the last quarter.
Bloomin' Brands Inc (BLMN) traded down $0.69 during mid-day trading on Wednesday, reaching $21.73. The company’s stock had a trading volume of 1,752,818 shares, compared to its average volume of 1,539,359. The company has a debt-to-equity ratio of 31.17, a quick ratio of 0.29 and a current ratio of 0.36. Bloomin' Brands Inc has a twelve month low of $16.11 and a twelve month high of $22.47. The stock has a market capitalization of $2,021.62, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 1.33 and a beta of 0.65.
Bloomin' Brands (NASDAQ:BLMN) last released its earnings results on Friday, November 3rd. The restaurant operator reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). Bloomin' Brands had a return on equity of 94.30% and a net margin of 1.93%. The business had revenue of $948.90 million during the quarter, compared to analysts’ expectations of $944.30 million. During the same quarter in the previous year, the business earned $0.19 EPS. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. equities research analysts forecast that Bloomin' Brands Inc will post 1.33 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Monday, November 13th were given a dividend of $0.08 per share. This is an increase from Bloomin' Brands’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, November 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.47%. Bloomin' Brands’s dividend payout ratio is presently 41.56%.
BLMN has been the subject of several recent analyst reports. ValuEngine lowered Bloomin' Brands from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Jefferies Group reissued a “hold” rating and issued a $19.00 target price on shares of Bloomin' Brands in a research report on Thursday, August 31st. Raymond James Financial lowered Bloomin' Brands from an “outperform” rating to a “market perform” rating and set a $24.00 target price for the company. in a research report on Wednesday. Citigroup downgraded Bloomin' Brands to a “market perform” rating in a research note on Wednesday. Finally, Credit Suisse Group cut their price objective on Bloomin' Brands from $18.50 to $18.00 and set a “neutral” rating for the company in a research note on Monday, November 6th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $21.00.
In other news, CEO Elizabeth A. Smith sold 1,700 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $17.00, for a total value of $28,900.00. Following the completion of the transaction, the chief executive officer now directly owns 82,935 shares in the company, valued at $1,409,895. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP David J. Deno sold 41,097 shares of Bloomin' Brands stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $22.00, for a total value of $904,134.00. Following the transaction, the executive vice president now owns 15,135 shares of the company’s stock, valued at $332,970. The disclosure for this sale can be found here. Insiders have sold a total of 167,797 shares of company stock worth $3,144,784 in the last three months. Corporate insiders own 7.04% of the company’s stock.
About Bloomin' Brands
Bloomin’ Brands, Inc is a holding company. The Company owns and operates casual, upscale casual and fine dining restaurants. The Company operates through two segments: U.S. and International. The U.S. segment includes all brands operating in the United States. The International segment includes brands operating outside the United States.
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