Bessemer Group Inc. held its position in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,700 shares of the restaurant operator’s stock at the end of the second quarter. Bessemer Group Inc. owned approximately 0.12% of Bloomin’ Brands worth $2,732,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in BLMN. Principal Financial Group Inc. raised its position in shares of Bloomin’ Brands by 0.4% in the first quarter. Principal Financial Group Inc. now owns 53,124 shares of the restaurant operator’s stock worth $1,048,000 after buying an additional 202 shares in the last quarter. US Bancorp DE raised its position in shares of Bloomin’ Brands by 0.5% in the first quarter. US Bancorp DE now owns 63,477 shares of the restaurant operator’s stock worth $1,252,000 after buying an additional 306 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Bloomin’ Brands by 8.6% in the first quarter. Public Employees Retirement System of Ohio now owns 8,794 shares of the restaurant operator’s stock worth $174,000 after buying an additional 693 shares in the last quarter. Bank of Montreal Can raised its position in shares of Bloomin’ Brands by 3.5% in the second quarter. Bank of Montreal Can now owns 35,703 shares of the restaurant operator’s stock worth $758,000 after buying an additional 1,221 shares in the last quarter. Finally, Reinhart Partners Inc. boosted its position in Bloomin’ Brands by 2.4% in the second quarter. Reinhart Partners Inc. now owns 149,040 shares of the restaurant operator’s stock worth $3,164,000 after buying an additional 3,450 shares during the last quarter.
Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) traded up 0.80% during midday trading on Friday, reaching $17.74. The company had a trading volume of 1,551,974 shares. Bloomin’ Brands, Inc. has a 52 week low of $15.82 and a 52 week high of $22.16. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 19.67 and a beta of 0.72. The stock has a 50-day moving average of $19.29 and a 200 day moving average of $19.47.
Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings data on Wednesday, July 26th. The restaurant operator reported $0.28 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.28. Bloomin’ Brands had a return on equity of 74.68% and a net margin of 2.29%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, analysts anticipate that Bloomin’ Brands, Inc. will post $1.42 earnings per share for the current year.
Bloomin’ Brands declared that its Board of Directors has initiated a stock buyback plan on Wednesday, April 26th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the restaurant operator to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.32 annualized dividend and a yield of 1.80%. Bloomin’ Brands’s payout ratio is currently 35.56%.
BLMN has been the subject of a number of research reports. Zacks Investment Research cut Bloomin’ Brands from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Wells Fargo & Company cut Bloomin’ Brands from an “outperform” rating to a “market perform” rating and set a $22.00 price objective for the company. in a report on Friday, May 19th. Morgan Stanley upped their price objective on Bloomin’ Brands from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Friday, April 28th. Deutsche Bank AG reiterated a “hold” rating and issued a $24.00 price objective (up from $21.00) on shares of Bloomin’ Brands in a report on Monday, July 10th. Finally, ValuEngine cut Bloomin’ Brands from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. Bloomin’ Brands currently has a consensus rating of “Hold” and a consensus target price of $20.86.
Bloomin’ Brands Company Profile
Bloomin’ Brands, Inc is a holding company. The Company owns and operates casual, upscale casual and fine dining restaurants. The Company operates through two segments: U.S. and International. The U.S. segment includes all brands operating in the United States. The International segment includes brands operating outside the United States.
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