Bloomin' Brands Inc (BLMN) Rating Lowered to Market Perform at Wells Fargo & Co
Bloomin' Brands Inc (NASDAQ:BLMN) was downgraded by Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a research note issued to investors on Friday. They presently have a $22.00 price objective on the restaurant operator’s stock. Wells Fargo & Co’s target price points to a potential upside of 9.34% from the stock’s previous close.
A number of other brokerages have also weighed in on BLMN. Goldman Sachs Group Inc lowered Bloomin' Brands from a “buy” rating to a “neutral” rating and set a $18.00 target price on the stock. in a research report on Thursday, January 19th. Deutsche Bank AG upped their price target on Bloomin' Brands from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Zacks Investment Research upgraded Bloomin' Brands from a “sell” rating to a “hold” rating in a report on Thursday, February 23rd. OTR Global downgraded Bloomin' Brands to a “neutral” rating in a report on Friday, February 3rd. Finally, JPMorgan Chase & Co. downgraded Bloomin' Brands from an “overweight” rating to a “neutral” rating and set a $20.00 price target for the company. in a report on Tuesday, February 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Bloomin' Brands has a consensus rating of “Hold” and a consensus target price of $20.22.
Bloomin' Brands (NASDAQ:BLMN) last issued its earnings results on Wednesday, April 26th. The restaurant operator reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Bloomin' Brands had a return on equity of 45.13% and a net margin of 1.48%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the firm earned $0.47 earnings per share. Bloomin' Brands’s revenue for the quarter was down 1.8% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 19th. Shareholders of record on Monday, May 8th were paid a $0.08 dividend. The ex-dividend date was Thursday, May 4th. This represents a $0.32 dividend on an annualized basis and a yield of 1.59%. Bloomin' Brands’s dividend payout ratio (DPR) is presently 52.83%.
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In other Bloomin' Brands news, Chairman Elizabeth A. Smith sold 275,000 shares of the company’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $21.81, for a total value of $5,997,750.00. Following the completion of the transaction, the chairman now owns 206,235 shares in the company, valued at approximately $4,497,985.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sukhdev Singh sold 26,446 shares of the company’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $21.67, for a total value of $573,084.82. Following the completion of the transaction, the executive vice president now owns 15,759 shares of the company’s stock, valued at approximately $341,497.53. The disclosure for this sale can be found here. Insiders sold a total of 304,772 shares of company stock valued at $6,637,355 in the last 90 days. Corporate insiders own 6.68% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. acquired a new position in shares of Bloomin' Brands during the first quarter worth about $173,000. Integrated Investment Consultants LLC increased its position in shares of Bloomin' Brands by 20.1% in the first quarter. Integrated Investment Consultants LLC now owns 9,007 shares of the restaurant operator’s stock worth $178,000 after buying an additional 1,507 shares during the period. New York State Teachers Retirement System increased its position in shares of Bloomin' Brands by 3.1% in the fourth quarter. New York State Teachers Retirement System now owns 10,100 shares of the restaurant operator’s stock worth $182,000 after buying an additional 300 shares during the period. MARSHALL WACE ASIA Ltd acquired a new position in shares of Bloomin' Brands during the first quarter worth about $211,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Bloomin' Brands during the first quarter worth about $211,000. Hedge funds and other institutional investors own 95.31% of the company’s stock.
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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