Connor Clark & Lunn Investment Management Ltd. increased its stake in Bloomin’ Brands Inc (NASDAQ:BLMN) by 96.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 271,341 shares of the restaurant operator’s stock after acquiring an additional 133,141 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.30% of Bloomin’ Brands worth $5,370,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Credit Suisse AG increased its holdings in shares of Bloomin’ Brands by 5.3% during the third quarter. Credit Suisse AG now owns 135,968 shares of the restaurant operator’s stock valued at $2,690,000 after acquiring an additional 6,824 shares in the last quarter. Schroder Investment Management Group grew its holdings in Bloomin’ Brands by 21.8% during the third quarter. Schroder Investment Management Group now owns 49,811 shares of the restaurant operator’s stock worth $986,000 after buying an additional 8,911 shares in the last quarter. FMR LLC bought a new stake in Bloomin’ Brands during the third quarter worth $2,277,000. Bank of New York Mellon Corp grew its holdings in Bloomin’ Brands by 3.2% during the third quarter. Bank of New York Mellon Corp now owns 676,905 shares of the restaurant operator’s stock worth $13,397,000 after buying an additional 21,247 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Bloomin’ Brands by 19.0% during the third quarter. Alliancebernstein L.P. now owns 6,104,179 shares of the restaurant operator’s stock worth $120,802,000 after buying an additional 973,390 shares in the last quarter. 95.57% of the stock is currently owned by institutional investors.
Shares of Bloomin’ Brands stock opened at $19.55 on Monday. Bloomin’ Brands Inc has a 12-month low of $17.97 and a 12-month high of $25.00. The firm has a market cap of $1.80 billion, a P/E ratio of 14.38, a P/E/G ratio of 1.42 and a beta of 0.22. The company has a quick ratio of 0.29, a current ratio of 0.37 and a debt-to-equity ratio of 18.69.
Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings data on Monday, October 29th. The restaurant operator reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.01. Bloomin’ Brands had a return on equity of 196.28% and a net margin of 2.68%. The business had revenue of $965.00 million for the quarter, compared to analysts’ expectations of $965.17 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. On average, equities analysts anticipate that Bloomin’ Brands Inc will post 1.46 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 14th were given a $0.09 dividend. The ex-dividend date was Tuesday, November 13th. This represents a $0.36 annualized dividend and a yield of 1.84%. Bloomin’ Brands’s dividend payout ratio is currently 26.47%.
In other Bloomin’ Brands news, EVP Donagh Herlihy sold 7,581 shares of the business’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $20.00, for a total value of $151,620.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mindy F. Grossman sold 8,000 shares of the business’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $20.96, for a total value of $167,680.00. Following the completion of the transaction, the director now directly owns 9,790 shares in the company, valued at approximately $205,198.40. The disclosure for this sale can be found here. 7.47% of the stock is currently owned by insiders.
Several equities research analysts recently issued reports on BLMN shares. Gordon Haskett started coverage on Bloomin’ Brands in a report on Thursday, October 18th. They set a “buy” rating and a $23.00 price target for the company. BidaskClub upgraded Bloomin’ Brands from a “hold” rating to a “buy” rating in a report on Tuesday, November 6th. TheStreet downgraded Bloomin’ Brands from a “b-” rating to a “c+” rating in a report on Monday, October 29th. Zacks Investment Research upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Friday, October 26th. Finally, ValuEngine upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $22.78.
Bloomin’ Brands Profile
Bloomin' Brands, Inc, through its subsidiaries, owns and operates casual, upscale casual, and fine dining restaurants in the United States and internationally. The company operates through two segments, U.S. and International. Its restaurant portfolio has four concepts, including Outback Steakhouse, a casual steakhouse restaurant; Carrabba's Italian Grill, a casual Italian restaurant; Bonefish Grill, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
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