Martingale Asset Management L P cut its holdings in shares of Bloomin' Brands Inc (NASDAQ:BLMN) by 14.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 258,601 shares of the restaurant operator’s stock after selling 45,099 shares during the period. Martingale Asset Management L P’s holdings in Bloomin' Brands were worth $5,519,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of BLMN. Public Employees Retirement Association of Colorado bought a new stake in shares of Bloomin' Brands in the fourth quarter worth about $118,000. New York State Teachers Retirement System bought a new stake in shares of Bloomin' Brands in the third quarter worth about $153,000. Public Employees Retirement System of Ohio increased its holdings in shares of Bloomin' Brands by 6.1% in the second quarter. Public Employees Retirement System of Ohio now owns 9,333 shares of the restaurant operator’s stock worth $198,000 after purchasing an additional 539 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in Bloomin' Brands during the third quarter worth approximately $181,000. Finally, Brookmont Capital Management bought a new stake in Bloomin' Brands during the third quarter worth approximately $190,000. 94.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of Bloomin' Brands Inc (NASDAQ BLMN) opened at $23.74 on Tuesday. The company has a quick ratio of 0.29, a current ratio of 0.36 and a debt-to-equity ratio of 31.17. The stock has a market capitalization of $2,170.00, a P/E ratio of 24.22, a P/E/G ratio of 1.78 and a beta of 0.50. Bloomin' Brands Inc has a twelve month low of $16.11 and a twelve month high of $24.43.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Investors of record on Monday, March 5th will be issued a $0.09 dividend. This is a positive change from Bloomin' Brands’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.52%. Bloomin' Brands’s payout ratio is presently 32.65%.
Bloomin' Brands announced that its Board of Directors has initiated a share repurchase plan on Thursday, February 22nd that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the restaurant operator to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
Several equities research analysts have weighed in on the company. BMO Capital Markets set a $27.00 price objective on Bloomin' Brands and gave the stock a “buy” rating in a research note on Friday. Barclays boosted their price objective on Bloomin' Brands from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday. William Blair reissued a “market perform” rating on shares of Bloomin' Brands in a research note on Monday, January 22nd. ValuEngine raised Bloomin' Brands from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, BidaskClub raised Bloomin' Brands from a “sell” rating to a “hold” rating in a research note on Monday, February 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $22.78.
In related news, Chairman Elizabeth A. Smith sold 375,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $20.79, for a total value of $7,796,250.00. Following the completion of the sale, the chairman now owns 206,235 shares in the company, valued at $4,287,625.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David J. Deno sold 41,097 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $22.00, for a total value of $904,134.00. Following the completion of the sale, the executive vice president now owns 15,135 shares of the company’s stock, valued at approximately $332,970. The disclosure for this sale can be found here. Insiders sold 624,011 shares of company stock valued at $13,657,191 in the last quarter. 7.04% of the stock is owned by company insiders.
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Bloomin' Brands Company Profile
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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