BLMN has been the topic of several other reports. Zacks Investment Research raised Bloomin' Brands from a sell rating to a hold rating in a research report on Thursday, January 18th. Credit Suisse Group dropped their price target on Bloomin' Brands from $18.50 to $18.00 and set a neutral rating on the stock in a research report on Monday, November 6th. Raymond James Financial lowered Bloomin' Brands from an outperform rating to a market perform rating and set a $24.00 price target on the stock. in a research report on Wednesday, December 6th. Bank of America lowered Bloomin' Brands from a buy rating to a neutral rating and set a $21.00 price target on the stock. in a research report on Wednesday, November 22nd. Finally, BMO Capital Markets dropped their price target on Bloomin' Brands from $25.00 to $24.00 and set an outperform rating on the stock in a research report on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. Bloomin' Brands has an average rating of Hold and a consensus price target of $22.78.
Bloomin' Brands (BLMN) opened at $23.74 on Friday. The company has a market capitalization of $2,170.00, a P/E ratio of 24.22, a PEG ratio of 1.78 and a beta of 0.50. The company has a debt-to-equity ratio of 31.17, a quick ratio of 0.29 and a current ratio of 0.36. Bloomin' Brands has a one year low of $16.11 and a one year high of $24.43.
Bloomin' Brands announced that its Board of Directors has authorized a stock buyback program on Thursday, February 22nd that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Monday, March 5th will be given a $0.09 dividend. The ex-dividend date is Friday, March 2nd. This is a positive change from Bloomin' Brands’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.52%. Bloomin' Brands’s dividend payout ratio (DPR) is currently 32.65%.
In other Bloomin' Brands news, EVP David J. Deno sold 41,097 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $22.00, for a total value of $904,134.00. Following the sale, the executive vice president now directly owns 15,135 shares of the company’s stock, valued at $332,970. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Elizabeth A. Smith sold 375,000 shares of the stock in a transaction 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 directly owns 206,235 shares in the company, valued at $4,287,625.65. The disclosure for this sale can be found here. Insiders sold 624,011 shares of company stock worth $13,657,191 over the last ninety days. 7.04% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Earnest Partners LLC increased its position in Bloomin' Brands by 30.9% in the fourth quarter. Earnest Partners LLC now owns 5,268,819 shares of the restaurant operator’s stock worth $112,437,000 after buying an additional 1,245,120 shares during the period. Jana Partners LLC acquired a new stake in Bloomin' Brands in the third quarter worth $73,480,000. LSV Asset Management increased its position in Bloomin' Brands by 15.9% in the fourth quarter. LSV Asset Management now owns 3,517,296 shares of the restaurant operator’s stock worth $75,059,000 after buying an additional 482,900 shares during the period. Dimensional Fund Advisors LP increased its position in Bloomin' Brands by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,960,065 shares of the restaurant operator’s stock worth $52,097,000 after buying an additional 23,110 shares during the period. Finally, Fuller & Thaler Asset Management Inc. increased its position in Bloomin' Brands by 0.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,277,021 shares of the restaurant operator’s stock worth $48,592,000 after buying an additional 6,128 shares during the period. 94.61% of the stock is currently owned by hedge funds and other institutional investors.
About Bloomin' Brands
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.
Receive News & Ratings for Bloomin' Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bloomin' Brands and related companies with MarketBeat.com's FREE daily email newsletter.