Reinhart Partners Inc. reduced its position in shares of Bloomin’ Brands Inc (NASDAQ:BLMN) by 2.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 346,437 shares of the restaurant operator’s stock after selling 7,734 shares during the quarter. Reinhart Partners Inc. owned approximately 0.40% of Bloomin’ Brands worth $6,558,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of the stock. Louisiana State Employees Retirement System bought a new stake in shares of Bloomin’ Brands during the second quarter worth $603,000. Oregon Public Employees Retirement Fund purchased a new stake in shares of Bloomin’ Brands in the second quarter valued at $685,000. New York State Teachers Retirement System lifted its holdings in shares of Bloomin’ Brands by 1,238.4% in the second quarter. New York State Teachers Retirement System now owns 45,504 shares of the restaurant operator’s stock valued at $860,000 after purchasing an additional 42,104 shares in the last quarter. Foundry Partners LLC lifted its holdings in shares of Bloomin’ Brands by 11.0% in the second quarter. Foundry Partners LLC now owns 1,012,339 shares of the restaurant operator’s stock valued at $19,143,000 after purchasing an additional 100,615 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of Bloomin’ Brands by 341.4% in the second quarter. Bessemer Group Inc. now owns 1,170,995 shares of the restaurant operator’s stock valued at $22,144,000 after purchasing an additional 905,693 shares in the last quarter. Institutional investors own 94.18% of the company’s stock.
A number of analysts have recently issued reports on the company. MKM Partners increased their target price on Bloomin’ Brands from $20.00 to $26.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. downgraded Bloomin’ Brands from an “overweight” rating to a “neutral” rating and raised their price target for the company from $21.00 to $25.00 in a research report on Thursday. They noted that the move was a valuation call. Morgan Stanley lowered their price target on Bloomin’ Brands from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Friday, October 18th. TheStreet downgraded Bloomin’ Brands from a “b-” rating to a “c+” rating in a research report on Monday, August 5th. Finally, BMO Capital Markets raised their price target on Bloomin’ Brands from $19.00 to $20.00 and gave the company a “market perform” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Bloomin’ Brands currently has an average rating of “Hold” and an average price target of $21.80.
Shares of BLMN stock traded up $0.02 on Friday, hitting $23.20. 1,194,400 shares of the stock were exchanged, compared to its average volume of 1,553,692. The company has a current ratio of 0.30, a quick ratio of 0.21 and a debt-to-equity ratio of 15.18. Bloomin’ Brands Inc has a fifty-two week low of $15.12 and a fifty-two week high of $23.53. The firm has a market capitalization of $1.82 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 1.40 and a beta of 0.31. The business has a 50-day moving average of $19.36 and a 200 day moving average of $18.71.
Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings data on Wednesday, November 6th. The restaurant operator reported $0.10 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.10. The company had revenue of $967.14 million for the quarter, compared to the consensus estimate of $967.04 million. Bloomin’ Brands had a return on equity of 105.54% and a net margin of 2.62%. Bloomin’ Brands’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the business posted $0.08 EPS. As a group, research analysts forecast that Bloomin’ Brands Inc will post 1.56 EPS for the current fiscal year.
The firm also recently announced a dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Bloomin’ Brands’s previous dividend of $0.06. Bloomin’ Brands’s payout ratio is presently 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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