Reinhart Partners Inc. reduced its position in shares of Bloomin’ Brands Inc (NASDAQ:BLMN) by 2.2% in the third quarter, HoldingsChannel.com reports. The firm owned 346,437 shares of the restaurant operator’s stock after selling 7,734 shares during the period. Reinhart Partners Inc.’s holdings in Bloomin’ Brands were worth $6,558,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its holdings in shares of Bloomin’ Brands by 1,720.4% during the third quarter. Steward Partners Investment Advisory LLC now owns 1,693 shares of the restaurant operator’s stock valued at $32,000 after purchasing an additional 1,600 shares during the period. LS Investment Advisors LLC bought a new position in shares of Bloomin’ Brands during the second quarter valued at approximately $56,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Bloomin’ Brands by 26.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,604 shares of the restaurant operator’s stock valued at $106,000 after purchasing an additional 1,172 shares in the last quarter. Advisor Group Inc. increased its stake in shares of Bloomin’ Brands by 35.7% during the second quarter. Advisor Group Inc. now owns 7,144 shares of the restaurant operator’s stock valued at $135,000 after purchasing an additional 1,881 shares in the last quarter. Finally, Flinton Capital Management LLC bought a new position in shares of Bloomin’ Brands during the second quarter valued at approximately $135,000. Institutional investors own 94.18% of the company’s stock.
Shares of BLMN stock traded up $0.02 during mid-day trading on Friday, hitting $23.20. 1,194,400 shares of the stock traded hands, compared to its average volume of 1,553,692. The stock’s fifty day moving average is $19.36 and its two-hundred day moving average is $18.71. Bloomin’ Brands Inc has a 52-week low of $15.12 and a 52-week high of $23.53. The stock has a market cap of $1.82 billion, a P/E ratio of 15.47, a P/E/G ratio of 1.40 and a beta of 0.31. The company has a debt-to-equity ratio of 15.18, a current ratio of 0.30 and a quick ratio of 0.21.
Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings results on Wednesday, November 6th. The restaurant operator reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. Bloomin’ Brands had a net margin of 2.62% and a return on equity of 105.54%. The firm had revenue of $967.14 million for the quarter, compared to analysts’ expectations of $967.04 million. During the same quarter last year, the company earned $0.08 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts forecast that Bloomin’ Brands Inc will post 1.56 EPS for the current fiscal year.
The business also recently declared a dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 18th will be paid a $0.10 dividend. The ex-dividend date is Friday, November 15th. This is a boost from Bloomin’ Brands’s previous dividend of $0.06. Bloomin’ Brands’s dividend payout ratio (DPR) is currently 26.67%.
Several brokerages recently weighed in on BLMN. Zacks Investment Research raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets increased their target price on shares of Bloomin’ Brands from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Thursday. ValuEngine upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Monday, September 16th. Barclays dropped their target price on shares of Bloomin’ Brands from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Finally, MKM Partners increased their target price on shares of Bloomin’ Brands from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $21.80.
About Bloomin’ Brands
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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