Bloomin’ Brands (NASDAQ:BLMN) Sets New 1-Year Low – Should You Sell?

Bloomin’ Brands, Inc. (NASDAQ:BLMN) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $7.64 and last traded at $7.70, with a volume of 565087 shares trading hands. The stock had previously closed at $8.05.

Wall Street Analyst Weigh In

A number of analysts recently commented on BLMN shares. UBS Group dropped their price target on shares of Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. The Goldman Sachs Group dropped their target price on Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating on the stock in a research report on Thursday, February 27th. BMO Capital Markets reduced their price target on Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating for the company in a research report on Thursday, February 27th. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Bank of America downgraded Bloomin’ Brands from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $18.00 to $13.00 in a research note on Monday, January 27th. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $14.50.

Bloomin’ Brands Stock Down 7.8 %

The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22. The company has a fifty day moving average price of $10.52 and a 200 day moving average price of $13.04. The company has a market cap of $630.61 million, a PE ratio of -67.49 and a beta of 2.04.

Bloomin’ Brands Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a yield of 8.08%. Bloomin’ Brands’s payout ratio is -40.27%.

Insider Transactions at Bloomin’ Brands

In other news, EVP Patrick M. Hafner sold 9,555 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $8.32, for a total value of $79,497.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Bloomin’ Brands

Large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its stake in shares of Bloomin’ Brands by 6.2% during the third quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator’s stock valued at $41,806,000 after buying an additional 147,895 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Bloomin’ Brands during the 3rd quarter valued at about $41,325,000. Victory Capital Management Inc. boosted its holdings in Bloomin’ Brands by 0.4% during the 4th quarter. Victory Capital Management Inc. now owns 2,390,703 shares of the restaurant operator’s stock valued at $29,190,000 after acquiring an additional 10,635 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Bloomin’ Brands by 385.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,817,145 shares of the restaurant operator’s stock worth $22,187,000 after acquiring an additional 1,442,964 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Bloomin’ Brands by 565.9% in the 4th quarter. American Century Companies Inc. now owns 1,791,366 shares of the restaurant operator’s stock worth $21,873,000 after purchasing an additional 1,522,370 shares during the period.

Bloomin’ Brands Company Profile

Bloomin’ Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.