Bloomin’ Brands, Inc. (NASDAQ:BLMN) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 10.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,598 shares of the restaurant operator’s stock after selling 4,838 shares during the period. The Manufacturers Life Insurance Company’s holdings in Bloomin’ Brands were worth $671,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BLMN. Xcel Wealth Management LLC boosted its holdings in Bloomin’ Brands by 27.0% in the 2nd quarter. Xcel Wealth Management LLC now owns 207,853 shares of the restaurant operator’s stock worth $3,997,000 after buying an additional 44,187 shares during the last quarter. SummerHaven Investment Management LLC raised its position in shares of Bloomin’ Brands by 2.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 27,857 shares of the restaurant operator’s stock valued at $536,000 after buying an additional 718 shares during the period. Easterly Investment Partners LLC raised its position in shares of Bloomin’ Brands by 4.2% during the 2nd quarter. Easterly Investment Partners LLC now owns 588,864 shares of the restaurant operator’s stock valued at $11,324,000 after buying an additional 23,466 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Bloomin’ Brands by 8.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,204 shares of the restaurant operator’s stock valued at $331,000 after buying an additional 1,354 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Bloomin’ Brands by 0.3% during the 2nd quarter. Principal Financial Group Inc. now owns 2,381,235 shares of the restaurant operator’s stock valued at $45,791,000 after buying an additional 6,107 shares during the period.

Analyst Ratings Changes

BLMN has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 12th. StockNews.com raised Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Citigroup cut 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. The Goldman Sachs Group started coverage on shares of Bloomin’ Brands in a research note on Thursday, December 5th. They issued a “sell” rating and a $13.00 price target for the company. Finally, Raymond James downgraded shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.09.

Bloomin’ Brands Stock Performance

Shares of BLMN stock opened at $12.27 on Friday. The stock’s 50-day moving average is $14.66 and its two-hundred day moving average is $16.97. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -111.54 and a beta of 1.95. Bloomin’ Brands, Inc. has a 1 year low of $12.18 and a 1 year high of $30.13. 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 (NASDAQ:BLMN) last issued its quarterly earnings data 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. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 earnings per share. Analysts predict that Bloomin’ Brands, Inc. will post 1.8 earnings per share for the current year.

Bloomin’ Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 25th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $0.96 annualized dividend and a dividend yield of 7.82%. Bloomin’ Brands’s dividend payout ratio (DPR) is -872.65%.

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.