Bloomin’ Brands, Inc. (NASDAQ:BLMN) Stock Position Increased by KBC Group NV

KBC Group NV boosted its position in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 79.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,371 shares of the restaurant operator’s stock after buying an additional 1,489 shares during the quarter. KBC Group NV’s holdings in Bloomin’ Brands were worth $56,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Bloomin’ Brands in the 2nd quarter valued at about $111,000. Point72 DIFC Ltd acquired a new stake in Bloomin’ Brands during the second quarter valued at approximately $169,000. Olympiad Research LP acquired a new stake in Bloomin’ Brands during the third quarter valued at approximately $202,000. Verdence Capital Advisors LLC boosted its holdings in Bloomin’ Brands by 6.6% during the third quarter. Verdence Capital Advisors LLC now owns 12,676 shares of the restaurant operator’s stock worth $210,000 after buying an additional 780 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new position in Bloomin’ Brands in the first quarter worth approximately $219,000.

Bloomin’ Brands Price Performance

NASDAQ BLMN opened at $13.19 on Friday. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -119.90 and a beta of 2.04. The company has a 50 day simple moving average of $15.70 and a 200-day simple moving average of $17.98. Bloomin’ Brands, Inc. has a 52-week low of $12.26 and a 52-week high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings results on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. Bloomin’ Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the company posted $0.44 EPS. Bloomin’ Brands’s revenue was down 5.1% on a year-over-year basis. Equities research analysts predict that Bloomin’ Brands, Inc. will post 1.8 earnings per share for the current fiscal year.

Bloomin’ Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 25th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 7.28%. The ex-dividend date is Monday, November 25th. Bloomin’ Brands’s payout ratio is presently -872.65%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Barclays cut their price objective on Bloomin’ Brands from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Piper Sandler decreased their price target on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. JPMorgan Chase & Co. dropped their price target on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 12th. Bank of America reduced their price objective on shares of Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Finally, UBS Group dropped 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 report on Wednesday, August 7th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Bloomin’ Brands presently has an average rating of “Hold” and an average target price of $19.70.

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.