Earnest Partners LLC raised its holdings in Bloomin' Brands Inc (NASDAQ:BLMN) by 30.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,268,819 shares of the restaurant operator’s stock after purchasing an additional 1,245,120 shares during the quarter. Bloomin' Brands accounts for approximately 1.1% of Earnest Partners LLC’s investment portfolio, making the stock its 23rd biggest position. Earnest Partners LLC owned about 5.77% of Bloomin' Brands worth $112,437,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of BLMN. Jana Partners LLC bought a new position in shares of Bloomin' Brands in the 3rd quarter valued at $73,480,000. Stevens Capital Management LP lifted its stake in shares of Bloomin' Brands by 57.7% in the 3rd quarter. Stevens Capital Management LP now owns 18,849 shares of the restaurant operator’s stock valued at $332,000 after acquiring an additional 6,900 shares during the last quarter. Segall Bryant & Hamill LLC lifted its stake in shares of Bloomin' Brands by 13.9% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 187,652 shares of the restaurant operator’s stock valued at $3,303,000 after acquiring an additional 22,906 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Bloomin' Brands in the 3rd quarter valued at $620,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Bloomin' Brands by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,960,065 shares of the restaurant operator’s stock valued at $52,097,000 after acquiring an additional 23,110 shares during the last quarter. 98.85% of the stock is currently owned by hedge funds and other institutional investors.
Bloomin' Brands Inc (NASDAQ BLMN) opened at $24.37 on Monday. The stock has a market capitalization of $2,264.77, a price-to-earnings ratio of 18.05, a P/E/G ratio of 1.76 and a beta of 0.44. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 22.07. Bloomin' Brands Inc has a 12-month low of $16.11 and a 12-month high of $24.45.
Bloomin' Brands announced that its Board of Directors has authorized a share buyback program on Thursday, February 22nd that allows the company to buyback $150.00 million in shares. This buyback authorization allows the restaurant operator to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Investors of record on Monday, March 5th will be given a dividend of $0.09 per share. This is a positive change from Bloomin' Brands’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.48%. The ex-dividend date is Friday, March 2nd. Bloomin' Brands’s dividend payout ratio (DPR) is currently 36.73%.
In other Bloomin' Brands news, Chairman Elizabeth A. Smith sold 375,000 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $20.79, for a total transaction of $7,796,250.00. Following the completion of the sale, the chairman now directly owns 206,235 shares in the company, valued at approximately $4,287,625.65. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Donagh Herlihy sold 9,081 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $20.93, for a total value of $190,065.33. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 859,205 shares of company stock valued at $19,249,336. 7.47% of the stock is owned by corporate insiders.
A number of research analysts have recently commented on BLMN shares. Zacks Investment Research upgraded Bloomin' Brands from a “sell” rating to a “hold” rating in a research note on Thursday, January 18th. Bank of America cut Bloomin' Brands from a “buy” rating to a “neutral” rating and set a $21.00 price target for the company. in a research note on Wednesday, November 22nd. Raymond James Financial cut Bloomin' Brands from an “outperform” rating to a “market perform” rating and set a $24.00 price target for the company. in a research note on Wednesday, December 6th. Goldman Sachs Group reiterated a “sell” rating on shares of Bloomin' Brands in a research note on Friday, January 19th. Finally, BMO Capital Markets set a $27.00 price target on Bloomin' Brands and gave the company a “buy” rating in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $22.78.
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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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