Millennium Management LLC Has $9.01 Million Stock Position in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Millennium Management LLC boosted its stake in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 2,520.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 468,507 shares of the restaurant operator’s stock after buying an additional 450,630 shares during the period. Millennium Management LLC owned about 0.54% of Bloomin’ Brands worth $9,009,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in shares of Bloomin’ Brands in the first quarter worth approximately $30,000. EntryPoint Capital LLC grew its position in Bloomin’ Brands by 6,454.9% during the 1st quarter. EntryPoint Capital LLC now owns 3,343 shares of the restaurant operator’s stock worth $96,000 after purchasing an additional 3,292 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Bloomin’ Brands during the 2nd quarter worth approximately $111,000. Point72 DIFC Ltd acquired a new stake in Bloomin’ Brands during the 2nd quarter valued at $169,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of Bloomin’ Brands in the first quarter valued at $219,000.

Bloomin’ Brands Trading Down 1.3 %

Shares of NASDAQ:BLMN opened at $15.44 on Wednesday. The company has a current ratio of 0.35, a quick ratio of 0.26 and a debt-to-equity ratio of 3.46. The stock has a market capitalization of $1.34 billion, a PE ratio of 24.13 and a beta of 2.04. Bloomin’ Brands, Inc. has a 1 year low of $15.20 and a 1 year high of $30.13. The firm has a fifty day moving average price of $17.07 and a 200 day moving average price of $20.60.

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

Bloomin’ Brands Announces Dividend

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 $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.22%. The ex-dividend date of this dividend was Tuesday, August 20th. Bloomin’ Brands’s payout ratio is 150.00%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BLMN shares. Deutsche Bank Aktiengesellschaft lowered 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. Morgan Stanley lowered their target price on Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. UBS Group reduced their price target on shares of Bloomin’ Brands from $26.00 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Citigroup lowered their price objective on shares of 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, BMO Capital Markets cut their target price on shares of 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. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $22.33.

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.