HBK Investments L P lifted its stake in Bloomin’ Brands (NASDAQ:BLMN) by 4.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 242,600 shares of the restaurant operator’s stock after buying an additional 10,500 shares during the period. HBK Investments L P owned about 0.27% of Bloomin’ Brands worth $5,177,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Jana Partners LLC acquired a new stake in Bloomin’ Brands during the 3rd quarter valued at $73,480,000. Stevens Capital Management LP boosted its position in Bloomin’ Brands by 57.7% in the 3rd quarter. Stevens Capital Management LP now owns 18,849 shares of the restaurant operator’s stock valued at $332,000 after buying an additional 6,900 shares during the last quarter. Segall Bryant & Hamill LLC boosted its position in Bloomin’ Brands by 13.9% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 187,652 shares of the restaurant operator’s stock valued at $3,303,000 after buying an additional 22,906 shares during the last quarter. Jennison Associates LLC bought a new position in Bloomin’ Brands in the 3rd quarter valued at $620,000. Finally, California Public Employees Retirement System boosted its position in Bloomin’ Brands by 17.9% in the 4th quarter. California Public Employees Retirement System now owns 106,467 shares of the restaurant operator’s stock valued at $2,272,000 after buying an additional 16,195 shares during the last quarter. 98.49% of the stock is owned by institutional investors and hedge funds.
Shares of BLMN stock opened at $24.69 on Friday. The company has a debt-to-equity ratio of 22.07, a current ratio of 0.42 and a quick ratio of 0.36. The company has a market capitalization of $2,296.37, a P/E ratio of 18.15, a P/E/G ratio of 1.78 and a beta of 0.38. Bloomin’ Brands has a 1 year low of $16.11 and a 1 year high of $25.00.
Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings data on Thursday, February 22nd. The restaurant operator reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. Bloomin’ Brands had a net margin of 2.38% and a return on equity of 133.73%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the business earned $0.31 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. analysts predict that Bloomin’ Brands will post 1.42 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 14th. Stockholders of record on Monday, March 5th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, March 2nd. This is an increase from Bloomin’ Brands’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.46%. Bloomin’ Brands’s dividend payout ratio is 26.47%.
Bloomin’ Brands announced that its Board of Directors has approved a share buyback plan on Thursday, February 22nd that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the restaurant operator to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
Several research analysts have recently issued reports on the company. William Blair restated a “market perform” rating on shares of Bloomin’ Brands in a research report on Monday, January 22nd. Barclays reiterated an “overweight” rating and set a $25.00 target price (up from $21.00) on shares of Bloomin’ Brands in a report on Tuesday, January 16th. Goldman Sachs reiterated a “sell” rating on shares of Bloomin’ Brands in a report on Friday, January 19th. Zacks Investment Research raised Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Thursday, January 18th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $23.00 target price on shares of Bloomin’ Brands in a research report on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $22.78.
In related news, EVP David Peter Schmidt sold 3,500 shares of the stock in a transaction on Friday, January 12th. The stock was sold at an average price of $22.50, for a total value of $78,750.00. Following the completion of the sale, the executive vice president now directly owns 7,916 shares in the company, valued at $178,110. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Donagh Herlihy sold 195,333 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $24.00, for a total value of $4,687,992.00. The disclosure for this sale can be found here. Insiders have sold 520,970 shares of company stock valued at $12,373,870 over the last quarter. Company insiders own 7.47% of the company’s stock.
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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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