American Century Companies Inc. cut its stake in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN – Free Report) by 27.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 682,485 shares of the restaurant operator’s stock after selling 258,860 shares during the period. American Century Companies Inc. owned 0.78% of Bloomin’ Brands worth $17,506,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Clearbridge Investments LLC boosted its holdings in Bloomin’ Brands by 171.3% in the first quarter. Clearbridge Investments LLC now owns 5,626,195 shares of the restaurant operator’s stock valued at $123,439,000 after acquiring an additional 3,552,591 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Bloomin’ Brands by 13.0% in the 1st quarter. BlackRock Inc. now owns 15,152,121 shares of the restaurant operator’s stock valued at $332,436,000 after purchasing an additional 1,747,152 shares in the last quarter. LSV Asset Management grew its holdings in shares of Bloomin’ Brands by 57.5% during the 4th quarter. LSV Asset Management now owns 3,615,857 shares of the restaurant operator’s stock worth $72,751,000 after purchasing an additional 1,320,698 shares during the period. Boston Partners purchased a new stake in shares of Bloomin’ Brands during the 4th quarter worth about $21,623,000. Finally, Norges Bank acquired a new stake in Bloomin’ Brands during the 4th quarter worth approximately $16,198,000.
Analysts Set New Price Targets
A number of brokerages have weighed in on BLMN. BMO Capital Markets reduced their price target on shares of Bloomin’ Brands from $28.00 to $27.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 2nd. Citigroup lifted their target price on shares of Bloomin’ Brands from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, July 24th. StockNews.com downgraded Bloomin’ Brands from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Piper Sandler assumed coverage on Bloomin’ Brands in a research note on Monday, July 17th. They set a “neutral” rating and a $28.00 price objective on the stock. Finally, Morgan Stanley restated an “equal weight” rating and issued a $27.00 price target on shares of Bloomin’ Brands in a report on Wednesday, August 2nd. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Bloomin’ Brands presently has an average rating of “Hold” and an average target price of $30.00.
Bloomin’ Brands Price Performance
Shares of BLMN stock opened at $28.06 on Friday. The firm has a market cap of $2.44 billion, a P/E ratio of 10.88, a P/E/G ratio of 0.94 and a beta of 1.90. The firm has a fifty day moving average of $26.82 and a two-hundred day moving average of $25.84. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.27 and a quick ratio of 0.20. Bloomin’ Brands, Inc. has a 1-year low of $17.96 and a 1-year high of $28.67.
Bloomin’ Brands (NASDAQ:BLMN – Get Free Report) last posted its quarterly earnings results on Tuesday, August 1st. The restaurant operator reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. Bloomin’ Brands had a return on equity of 86.88% and a net margin of 5.49%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the firm earned $0.68 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, research analysts anticipate that Bloomin’ Brands, Inc. will post 2.94 earnings per share for the current fiscal year.
Bloomin’ Brands Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Monday, August 14th were issued a $0.24 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.42%. Bloomin’ Brands’s dividend payout ratio (DPR) is 37.21%.
Bloomin’ Brands 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; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
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