Edgestream Partners L.P. Takes Position in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Edgestream Partners L.P. bought a new position in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 36,973 shares of the restaurant operator’s stock, valued at approximately $711,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC bought a new position in shares of Bloomin’ Brands in the 1st quarter worth about $30,000. TFO Wealth Partners LLC increased its holdings in Bloomin’ Brands by 284,000.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,841 shares of the restaurant operator’s stock worth $80,000 after purchasing an additional 2,840 shares in the last quarter. EntryPoint Capital LLC lifted its stake in Bloomin’ Brands by 6,454.9% in the first quarter. EntryPoint Capital LLC now owns 3,343 shares of the restaurant operator’s stock valued at $96,000 after buying an additional 3,292 shares during the period. AdvisorShares Investments LLC boosted its holdings in shares of Bloomin’ Brands by 21.9% during the 4th quarter. AdvisorShares Investments LLC now owns 5,014 shares of the restaurant operator’s stock worth $141,000 after buying an additional 900 shares in the last quarter. Finally, Assetmark Inc. grew its position in shares of Bloomin’ Brands by 32.0% during the 4th quarter. Assetmark Inc. now owns 5,314 shares of the restaurant operator’s stock worth $150,000 after buying an additional 1,288 shares during the period.

Bloomin’ Brands Price Performance

BLMN opened at $16.69 on Friday. Bloomin’ Brands, Inc. has a 1 year low of $15.20 and a 1 year high of $30.13. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.35 and a quick ratio of 0.26. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 26.08 and a beta of 2.05. The firm’s fifty day moving average price is $17.80 and its two-hundred day moving average price is $21.69.

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

Bloomin’ Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th were issued a dividend of $0.24 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.96 dividend on an annualized basis and a yield of 5.75%. Bloomin’ Brands’s dividend payout ratio (DPR) is currently 150.00%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. UBS Group cut their target price on shares of Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. BMO Capital Markets decreased their target price on Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut their price target on Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Citigroup lowered their target price on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. Finally, Barclays reduced their price target on shares of Bloomin’ Brands from $30.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Bloomin’ Brands presently has an average rating of “Hold” and a consensus price target of $22.33.

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; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.