Xcel Wealth Management LLC Trims Holdings in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Xcel Wealth Management LLC trimmed its holdings in Bloomin’ Brands, Inc. (NASDAQ:BLMNFree Report) by 9.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 186,926 shares of the restaurant operator’s stock after selling 19,900 shares during the period. Bloomin’ Brands accounts for approximately 1.8% of Xcel Wealth Management LLC’s portfolio, making the stock its 16th largest position. Xcel Wealth Management LLC owned about 0.22% of Bloomin’ Brands worth $5,262,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Advisor Group Holdings Inc. grew its position in Bloomin’ Brands by 6.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 9,030 shares of the restaurant operator’s stock valued at $198,000 after buying an additional 525 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Bloomin’ Brands by 10.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,339 shares of the restaurant operator’s stock worth $160,000 after acquiring an additional 700 shares during the period. Bank of Montreal Can boosted its holdings in shares of Bloomin’ Brands by 32.2% in the first quarter. Bank of Montreal Can now owns 46,261 shares of the restaurant operator’s stock valued at $1,011,000 after acquiring an additional 11,273 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Bloomin’ Brands by 51.1% during the first quarter. MetLife Investment Management LLC now owns 48,735 shares of the restaurant operator’s stock worth $1,069,000 after acquiring an additional 16,472 shares during the period. Finally, Rhumbline Advisers raised its holdings in Bloomin’ Brands by 3.5% during the first quarter. Rhumbline Advisers now owns 221,589 shares of the restaurant operator’s stock worth $4,862,000 after purchasing an additional 7,561 shares in the last quarter.

Bloomin’ Brands Trading Down 1.7 %

NASDAQ BLMN traded down $0.46 during mid-day trading on Friday, reaching $26.51. 1,181,299 shares of the stock were exchanged, compared to its average volume of 1,304,392. The business’s fifty day simple moving average is $27.72 and its 200 day simple moving average is $25.85. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.27 and a current ratio of 0.34. The stock has a market capitalization of $2.31 billion, a PE ratio of 10.48 and a beta of 2.00. Bloomin’ Brands, Inc. has a 1-year low of $22.03 and a 1-year high of $30.13.

Bloomin’ Brands (NASDAQ:BLMNGet Free Report) last announced its quarterly earnings data on Friday, February 23rd. The restaurant operator reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. Bloomin’ Brands had a return on equity of 73.67% and a net margin of 5.30%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the business earned $0.68 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, research analysts anticipate that Bloomin’ Brands, Inc. will post 2.55 earnings per share for the current fiscal year.

Bloomin’ Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.62%. Bloomin’ Brands’s payout ratio is 37.94%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. BMO Capital Markets boosted their target price on Bloomin’ Brands from $27.00 to $29.00 and gave the stock a “market perform” rating in a research report on Monday, February 26th. Barclays raised their price objective on shares of Bloomin’ Brands from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. Raymond James lifted their price target on shares of Bloomin’ Brands from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. JPMorgan Chase & Co. downgraded Bloomin’ Brands from an “overweight” rating to a “neutral” rating and set a $26.00 price objective for the company. in a research note on Tuesday, January 23rd. Finally, Citigroup lifted their price target on Bloomin’ Brands from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $27.90.

Read Our Latest Stock Analysis on Bloomin’ Brands

About Bloomin’ Brands

(Free Report)

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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Institutional Ownership by Quarter for Bloomin' Brands (NASDAQ:BLMN)

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