Point72 Asset Management L.P. reduced its position in shares of Bloomin’ Brands Inc (NASDAQ:BLMN) by 93.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,082 shares of the restaurant operator’s stock after selling 522,418 shares during the period. Point72 Asset Management L.P.’s holdings in Bloomin’ Brands were worth $828,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. New York State Teachers Retirement System increased its stake in Bloomin’ Brands by 48.2% during the 1st quarter. New York State Teachers Retirement System now owns 8,300 shares of the restaurant operator’s stock worth $202,000 after buying an additional 2,700 shares in the last quarter. Franklin Resources Inc. purchased a new stake in Bloomin’ Brands during the 1st quarter worth approximately $209,000. LPL Financial LLC purchased a new stake in Bloomin’ Brands during the 1st quarter worth approximately $230,000. Vident Investment Advisory LLC purchased a new stake in Bloomin’ Brands during the 4th quarter worth approximately $203,000. Finally, Investors Research Corp purchased a new stake in Bloomin’ Brands during the 4th quarter worth approximately $208,000. Institutional investors own 95.20% of the company’s stock.
In related news, EVP Gregg Scarlett sold 45,846 shares of the company’s stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $24.23, for a total value of $1,110,848.58. Following the transaction, the executive vice president now directly owns 46,595 shares in the company, valued at $1,128,996.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Elizabeth A. Smith sold 212,791 shares of the company’s stock in a transaction that occurred on Friday, April 6th. The shares were sold at an average price of $24.78, for a total value of $5,272,960.98. Following the completion of the transaction, the chief executive officer now owns 292,180 shares in the company, valued at $7,240,220.40. The disclosure for this sale can be found here. Insiders sold 1,800,453 shares of company stock worth $43,289,868 over the last quarter. 7.47% of the stock is currently owned by insiders.
Several research analysts have recently weighed in on the company. BidaskClub upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Tuesday, June 19th. ValuEngine cut Bloomin’ Brands from a “buy” rating to a “hold” rating in a report on Monday, May 14th. JPMorgan Chase & Co. boosted their target price on Bloomin’ Brands from $21.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, May 1st. Barclays boosted their target price on Bloomin’ Brands from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday, April 27th. Finally, Deutsche Bank upgraded Bloomin’ Brands from a “hold” rating to a “buy” rating in a report on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $23.88.
Shares of Bloomin’ Brands stock opened at $21.93 on Tuesday. The company has a market cap of $2.04 billion, a PE ratio of 14.47, a P/E/G ratio of 1.60 and a beta of 0.30. Bloomin’ Brands Inc has a 1-year low of $16.11 and a 1-year high of $25.00. The company has a debt-to-equity ratio of 10.30, a quick ratio of 0.33 and a current ratio of 0.41.
Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings data on Thursday, April 26th. The restaurant operator reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.13. Bloomin’ Brands had a return on equity of 198.45% and a net margin of 2.91%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the firm posted $0.58 earnings per share. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. analysts expect that Bloomin’ Brands Inc will post 1.43 earnings per share for the current fiscal year.
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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
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