Intech Investment Management LLC Invests $339,000 in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Intech Investment Management LLC bought a new position in Bloomin’ Brands, Inc. (NASDAQ:BLMN) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 20,531 shares of the restaurant operator’s stock, valued at approximately $339,000.

Several other hedge funds also recently made changes to their positions in BLMN. Deprince Race & Zollo Inc. acquired a new stake in shares of Bloomin’ Brands in the 2nd quarter worth $28,672,000. Victory Capital Management Inc. increased its holdings in shares of Bloomin’ Brands by 29.6% in the 2nd 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. Millennium Management LLC increased its holdings in shares of Bloomin’ Brands by 2,520.7% in the 2nd quarter. Millennium Management LLC now owns 468,507 shares of the restaurant operator’s stock valued at $9,009,000 after purchasing an additional 450,630 shares in the last quarter. Systematic Financial Management LP increased its holdings in shares of Bloomin’ Brands by 76.5% in the 2nd quarter. Systematic Financial Management LP now owns 544,742 shares of the restaurant operator’s stock valued at $10,475,000 after purchasing an additional 236,037 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Bloomin’ Brands by 6.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator’s stock valued at $41,806,000 after purchasing an additional 147,895 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BLMN. BMO Capital Markets cut their price target on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. Raymond James downgraded shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. UBS Group dropped 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. JPMorgan Chase & Co. dropped their target price on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, November 12th. Finally, Piper Sandler dropped their target price on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.70.

Bloomin’ Brands Price Performance

BLMN opened at $13.00 on Wednesday. The company’s 50 day simple moving average is $15.26 and its 200 day simple moving average is $17.41. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31. Bloomin’ Brands, Inc. has a 1 year low of $12.26 and a 1 year high of $30.13. The stock has a market capitalization of $1.10 billion, a PE ratio of -118.17 and a beta of 1.95.

Bloomin’ Brands (NASDAQ:BLMN) last released its earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, topping 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 last year, the company earned $0.44 earnings per share. The company’s quarterly revenue was down 5.1% on a year-over-year basis. As a group, sell-side analysts expect that Bloomin’ Brands, Inc. will post 1.8 EPS for the current year.

Bloomin’ Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 25th will be given a $0.24 dividend. The ex-dividend date is Monday, November 25th. This represents a $0.96 annualized dividend and a dividend yield of 7.38%. Bloomin’ Brands’s dividend payout ratio is presently -872.65%.

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.