Bloomin’ Brands (NASDAQ:BLMN) Shares Up 4.7% – Here’s Why

Bloomin’ Brands, Inc. (NASDAQ:BLMN) shares were up 4.7% during trading on Thursday . The stock traded as high as $8.14 and last traded at $8.30. Approximately 136,120 shares were traded during trading, a decline of 92% from the average daily volume of 1,767,295 shares. The stock had previously closed at $7.93.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. StockNews.com raised Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. JPMorgan Chase & Co. decreased their target price on shares of Bloomin’ Brands from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. BMO Capital Markets dropped their price target on shares of Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group decreased their price objective on shares of Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating for the company in a research report on Thursday, February 27th. Finally, Bank of America lowered shares of Bloomin’ Brands from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $18.00 to $13.00 in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.50.

Bloomin’ Brands Stock Up 1.9 %

The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46. The stock’s 50-day moving average price is $10.59 and its 200-day moving average price is $13.08. The company has a market cap of $686.50 million, a P/E ratio of -73.49 and a beta of 2.04.

Bloomin’ Brands Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were paid a $0.15 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a yield of 7.42%. Bloomin’ Brands’s dividend payout ratio (DPR) is presently -40.27%.

Insider Activity

In other Bloomin’ Brands news, EVP Patrick M. Hafner sold 9,555 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $8.32, for a total transaction of $79,497.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its position in Bloomin’ Brands by 6.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator’s stock valued at $41,806,000 after acquiring an additional 147,895 shares in the last quarter. Erste Asset Management GmbH bought a new position in shares of Bloomin’ Brands in the third quarter valued at approximately $41,325,000. Victory Capital Management Inc. boosted its position in shares of Bloomin’ Brands by 0.4% during the fourth quarter. Victory Capital Management Inc. now owns 2,390,703 shares of the restaurant operator’s stock valued at $29,190,000 after buying an additional 10,635 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Bloomin’ Brands by 385.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,817,145 shares of the restaurant operator’s stock worth $22,187,000 after buying an additional 1,442,964 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Bloomin’ Brands by 565.9% in the 4th quarter. American Century Companies Inc. now owns 1,791,366 shares of the restaurant operator’s stock valued at $21,873,000 after buying an additional 1,522,370 shares during the last quarter.

Bloomin’ Brands Company Profile

Bloomin’ Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.