Federated Hermes Inc. raised its stake in Bloomin’ Brands, Inc. (NASDAQ:BLMN – Free Report) by 384.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 172,945 shares of the restaurant operator’s stock after acquiring an additional 137,231 shares during the quarter. Federated Hermes Inc. owned approximately 0.20% of Bloomin’ Brands worth $4,436,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. CoreCap Advisors LLC acquired a new position in shares of Bloomin’ Brands in the fourth quarter worth $27,000. CWM LLC raised its holdings in shares of Bloomin’ Brands by 91.1% in the first quarter. CWM LLC now owns 1,185 shares of the restaurant operator’s stock worth $30,000 after acquiring an additional 565 shares during the last quarter. Money Concepts Capital Corp acquired a new position in shares of Bloomin’ Brands in the fourth quarter worth $32,000. Quadrant Capital Group LLC raised its holdings in shares of Bloomin’ Brands by 169.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,644 shares of the restaurant operator’s stock worth $33,000 after acquiring an additional 1,033 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in shares of Bloomin’ Brands by 31.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,303 shares of the restaurant operator’s stock valued at $46,000 after purchasing an additional 557 shares during the period.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the company. Bank of America boosted their price target on Bloomin’ Brands from $26.00 to $30.00 in a research report on Friday, July 21st. BMO Capital Markets lowered their price target on Bloomin’ Brands from $28.00 to $27.00 and set a “market perform” rating for the company in a research report on Wednesday, August 2nd. Morgan Stanley reissued an “equal weight” rating and set a $27.00 price target on shares of Bloomin’ Brands in a research report on Wednesday, August 2nd. William Blair downgraded Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 1st. Finally, StockNews.com downgraded Bloomin’ Brands from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Bloomin’ Brands presently has an average rating of “Hold” and an average target price of $30.00.
Bloomin’ Brands Trading Up 0.8 %
NASDAQ:BLMN opened at $25.20 on Tuesday. The business’s 50-day simple moving average is $26.59 and its 200 day simple moving average is $25.60. Bloomin’ Brands, Inc. has a one year low of $17.96 and a one year high of $28.67. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 0.68 and a beta of 1.90. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.20 and a current ratio of 0.27.
Bloomin’ Brands (NASDAQ:BLMN – Get Free Report) last announced its quarterly earnings data on Tuesday, August 1st. The restaurant operator reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.11. Bloomin’ Brands had a return on equity of 86.88% and a net margin of 5.49%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. Bloomin’ Brands’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that Bloomin’ Brands, Inc. will post 2.96 earnings per share for the current fiscal year.
Bloomin’ Brands Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 14th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.81%. The ex-dividend date is Friday, August 11th. Bloomin’ Brands’s payout ratio is currently 37.21%.
About Bloomin’ Brands
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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