First Quadrant L P CA acquired a new stake in Bloomin’ Brands, Inc. (NASDAQ:BLMN) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 13,929 shares of the restaurant operator’s stock, valued at approximately $296,000.
A number of other hedge funds have also recently modified their holdings of the stock. Reinhart Partners Inc. raised its stake in shares of 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. James Investment Research Inc. purchased a new stake in shares of Bloomin’ Brands during the second quarter worth approximately $1,389,000. Bank of Montreal Can raised its stake 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 during the last quarter. Public Employees Retirement System of Ohio raised its stake 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 during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of Bloomin’ Brands by 10.7% in the first quarter. Point72 Asset Management L.P. now owns 505,151 shares of the restaurant operator’s stock worth $9,967,000 after buying an additional 48,933 shares during the last quarter.
Bloomin’ Brands, Inc. (NASDAQ BLMN) traded up 0.80% during trading on Friday, reaching $17.74. The company had a trading volume of 1,551,974 shares. The firm has a market capitalization of $1.75 billion, a PE ratio of 19.67 and a beta of 0.72. Bloomin’ Brands, Inc. has a 12-month low of $15.82 and a 12-month high of $22.16. The firm’s 50 day moving average price is $19.29 and its 200 day moving average price is $19.47.
Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings results 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. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Bloomin’ Brands had a net margin of 2.29% and a return on equity of 74.68%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 EPS. Equities research analysts forecast that Bloomin’ Brands, Inc. will post $1.42 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Monday, August 7th. Bloomin’ Brands’s dividend payout ratio is presently 35.56%.
Bloomin’ Brands declared that its Board of Directors has authorized a stock buyback program on Wednesday, April 26th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the restaurant operator to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
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A number of brokerages recently commented on BLMN. BidaskClub lowered Bloomin’ Brands from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. TheStreet downgraded Bloomin’ Brands from a “b” rating to a “c+” rating in a research note on Wednesday, July 26th. Raymond James Financial, Inc. set a $24.00 target price on Bloomin’ Brands and gave the stock a “buy” rating in a research note on Thursday, July 27th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $24.00 target price (up previously from $21.00) on shares of Bloomin’ Brands in a research note on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $20.86.
About Bloomin’ Brands
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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