UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 417,348 Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 73.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 148,931 shares of the restaurant operator’s stock after selling 417,348 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.18% of Bloomin’ Brands worth $2,462,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC grew its position in Bloomin’ Brands by 34.8% in the 3rd quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock valued at $22,830,000 after acquiring an additional 356,456 shares during the last quarter. Victory Capital Management Inc. increased its stake in 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 worth $47,923,000 after buying an additional 569,855 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Bloomin’ Brands during the 2nd quarter valued at about $563,000. Charles Schwab Investment Management Inc. boosted its position in Bloomin’ Brands by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,255,059 shares of the restaurant operator’s stock valued at $20,746,000 after buying an additional 70,925 shares during the period. Finally, Edgestream Partners L.P. purchased a new stake in Bloomin’ Brands in the 2nd quarter valued at about $711,000.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BLMN shares. Bank of America decreased their price target 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. Piper Sandler lowered their target price on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Citigroup cut their price target on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note 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 objective for the company. Finally, JPMorgan Chase & Co. reduced their price target 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $19.09.

Bloomin’ Brands Trading Down 1.4 %

NASDAQ:BLMN opened at $12.27 on Friday. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -111.54 and a beta of 1.95. Bloomin’ Brands, Inc. has a 52 week low of $12.18 and a 52 week high of $30.13. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46. The firm has a 50 day moving average of $14.66 and a 200 day moving average of $16.94.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 earnings per share. As a group, sell-side analysts anticipate that Bloomin’ Brands, Inc. will post 1.8 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, December 11th. Stockholders of record on Monday, November 25th were paid a dividend of $0.24 per share. The ex-dividend date was Monday, November 25th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 7.82%. Bloomin’ Brands’s payout ratio 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.