Riverhead Capital Management LLC bought a new position in Bloomin’ Brands Inc (NASDAQ:BLMN) during the second quarter, Holdings Channel.com reports. The fund bought 7,600 shares of the restaurant operator’s stock, valued at approximately $144,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in BLMN. Bessemer Group Inc. raised its holdings in shares of Bloomin’ Brands by 341.4% in the 2nd quarter. Bessemer Group Inc. now owns 1,170,995 shares of the restaurant operator’s stock worth $22,144,000 after purchasing an additional 905,693 shares in the last quarter. Copeland Capital Management LLC raised its holdings in shares of Bloomin’ Brands by 132.9% in the 2nd quarter. Copeland Capital Management LLC now owns 1,466,275 shares of the restaurant operator’s stock worth $27,727,000 after purchasing an additional 836,605 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Bloomin’ Brands by 99.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,440,749 shares of the restaurant operator’s stock worth $27,245,000 after purchasing an additional 719,691 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Bloomin’ Brands by 196.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 592,025 shares of the restaurant operator’s stock worth $12,107,000 after purchasing an additional 392,427 shares in the last quarter. Finally, Spark Investment Management LLC raised its holdings in shares of Bloomin’ Brands by 79.1% in the 1st quarter. Spark Investment Management LLC now owns 822,200 shares of the restaurant operator’s stock worth $16,813,000 after purchasing an additional 363,000 shares in the last quarter. Institutional investors and hedge funds own 94.15% of the company’s stock.
A number of research firms recently commented on BLMN. BMO Capital Markets upgraded shares of Bloomin’ Brands from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $17.00 to $19.00 in a report on Thursday, September 5th. BidaskClub upgraded shares of Bloomin’ Brands from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Loop Capital began coverage on shares of Bloomin’ Brands in a report on Monday, July 22nd. They issued a “buy” rating and a $22.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on shares of Bloomin’ Brands from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, June 28th. Finally, MKM Partners set a $20.00 price target on shares of Bloomin’ Brands and gave the company a “buy” rating in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. Bloomin’ Brands presently has an average rating of “Buy” and a consensus target price of $21.80.
Shares of BLMN stock traded up $0.93 during trading hours on Friday, reaching $20.23. 1,909,028 shares of the stock traded hands, compared to its average volume of 1,837,163. Bloomin’ Brands Inc has a 1-year low of $15.12 and a 1-year high of $22.22. The business has a fifty day moving average price of $17.16 and a 200 day moving average price of $18.91. The company has a quick ratio of 0.21, a current ratio of 0.30 and a debt-to-equity ratio of 15.18. The firm has a market capitalization of $1.69 billion, a PE ratio of 13.49, a PEG ratio of 1.28 and a beta of 0.27.
Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. Bloomin’ Brands had a net margin of 2.62% and a return on equity of 105.54%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the business earned $0.36 earnings per share. The firm’s revenue was down 1.0% compared to the same quarter last year. Research analysts expect that Bloomin’ Brands Inc will post 1.58 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Monday, August 12th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, August 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.98%. Bloomin’ Brands’s dividend payout ratio is currently 26.67%.
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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
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