Kendall Capital Management Purchases 2,970 Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Kendall Capital Management increased its stake in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 7.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,255 shares of the restaurant operator’s stock after purchasing an additional 2,970 shares during the quarter. Kendall Capital Management owned about 0.05% of Bloomin’ Brands worth $832,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BLMN. Victory Capital Management Inc. increased its holdings in shares of Bloomin’ Brands by 29.6% in the second quarter. Victory Capital Management Inc. now owns 2,492,119 shares of the restaurant operator’s stock valued at $47,923,000 after purchasing an additional 569,855 shares in the last quarter. Norges Bank acquired a new stake in shares of Bloomin’ Brands in the fourth quarter valued at approximately $8,313,000. Verition Fund Management LLC increased its holdings in shares of Bloomin’ Brands by 1,763.3% in the fourth quarter. Verition Fund Management LLC now owns 218,496 shares of the restaurant operator’s stock valued at $6,151,000 after purchasing an additional 206,770 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new stake in shares of Bloomin’ Brands in the fourth quarter valued at approximately $4,222,000. Finally, BW Gestao de Investimentos Ltda. increased its holdings in shares of Bloomin’ Brands by 45.7% in the second quarter. BW Gestao de Investimentos Ltda. now owns 457,704 shares of the restaurant operator’s stock valued at $8,802,000 after purchasing an additional 143,485 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. StockNews.com lowered shares of Bloomin’ Brands from a “hold” rating to a “sell” rating in a report on Friday, August 9th. UBS Group lowered their target price on shares of Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Morgan Stanley lowered their target price on shares of Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Finally, Barclays lowered their target price on shares of Bloomin’ Brands from $30.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bloomin’ Brands presently has a consensus rating of “Hold” and a consensus price target of $22.33.

Bloomin’ Brands Trading Down 4.6 %

BLMN opened at $16.74 on Thursday. The stock has a market capitalization of $1.45 billion, a P/E ratio of 26.16 and a beta of 2.05. Bloomin’ Brands, Inc. has a 12 month low of $15.20 and a 12 month high of $30.13. The firm’s fifty day simple moving average is $17.83 and its 200 day simple moving average is $21.85. The company has a current ratio of 0.35, a quick ratio of 0.26 and a debt-to-equity ratio of 3.46.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings results on Tuesday, August 6th. The restaurant operator reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.07). Bloomin’ Brands had a net margin of 0.70% and a return on equity of 61.90%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, research analysts anticipate that Bloomin’ Brands, Inc. will post 2.08 EPS for the current fiscal year.

Bloomin’ Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.24 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.96 annualized dividend and a dividend yield of 5.73%. Bloomin’ Brands’s dividend payout ratio is presently 150.00%.

Bloomin’ Brands Company 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; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.