Canada Pension Plan Investment Board lowered its holdings in Bloomin’ Brands Inc (NASDAQ:BLMN) by 15.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 807,100 shares of the restaurant operator’s stock after selling 152,800 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.88% of Bloomin’ Brands worth $15,973,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Skylands Capital LLC raised its holdings in shares of Bloomin’ Brands by 22.2% in the 3rd quarter. Skylands Capital LLC now owns 202,800 shares of the restaurant operator’s stock valued at $4,013,000 after purchasing an additional 36,900 shares in the last quarter. Davidson Kempner Capital Management LP bought a new position in shares of Bloomin’ Brands during the 2nd quarter worth approximately $13,065,000. Commonwealth Bank of Australia bought a new position in shares of Bloomin’ Brands during the 3rd quarter worth approximately $298,000. Schwab Charles Investment Management Inc. raised its stake in shares of Bloomin’ Brands by 40.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,087,086 shares of the restaurant operator’s stock worth $21,851,000 after acquiring an additional 312,480 shares in the last quarter. Finally, Chicago Equity Partners LLC raised its stake in shares of Bloomin’ Brands by 8.4% during the 2nd quarter. Chicago Equity Partners LLC now owns 96,165 shares of the restaurant operator’s stock worth $1,933,000 after acquiring an additional 7,490 shares in the last quarter. Institutional investors and hedge funds own 95.57% of the company’s stock.
Shares of Bloomin’ Brands stock opened at $19.55 on Monday. The company has a current ratio of 0.37, a quick ratio of 0.29 and a debt-to-equity ratio of 18.69. Bloomin’ Brands Inc has a 12-month low of $17.97 and a 12-month high of $25.00. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 1.42 and a beta of 0.22.
Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings results on Monday, October 29th. The restaurant operator reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.01. Bloomin’ Brands had a net margin of 2.68% and a return on equity of 196.28%. The business had revenue of $965.00 million for the quarter, compared to analyst estimates of $965.17 million. During the same quarter in the prior year, the business posted $0.14 EPS. Bloomin’ Brands’s revenue for the quarter was up 1.0% compared to the same quarter last year. Research analysts forecast that Bloomin’ Brands Inc will post 1.46 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 14th were paid a dividend of $0.09 per share. The ex-dividend date was Tuesday, November 13th. This represents a $0.36 dividend on an annualized basis and a yield of 1.84%. Bloomin’ Brands’s payout ratio is 26.47%.
In other Bloomin’ Brands news, EVP Donagh Herlihy sold 7,581 shares of the company’s stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $20.00, for a total transaction of $151,620.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mindy F. Grossman sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $20.96, for a total transaction of $167,680.00. Following the transaction, the director now owns 9,790 shares in the company, valued at approximately $205,198.40. The disclosure for this sale can be found here. Corporate insiders own 7.47% of the company’s stock.
Several research analysts recently commented on the stock. Goldman Sachs Group upgraded shares of Bloomin’ Brands from a “sell” rating to a “neutral” rating and set a $18.00 price objective for the company in a research note on Tuesday, September 11th. BidaskClub lowered shares of Bloomin’ Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. ValuEngine upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Gordon Haskett assumed coverage on shares of Bloomin’ Brands in a research note on Thursday, October 18th. They set a “buy” rating and a $23.00 price objective for the company. Finally, Barclays reduced their price objective on shares of Bloomin’ Brands from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $22.78.
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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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