Bloomin’ Brands, Inc. (NASDAQ:BLMN) Shares Sold by State Street Corp

State Street Corp reduced its stake in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,399,188 shares of the restaurant operator’s stock after selling 171,578 shares during the quarter. State Street Corp owned 4.01% of Bloomin’ Brands worth $56,189,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Gladius Capital Management LP acquired a new stake in shares of Bloomin’ Brands in the 3rd quarter worth approximately $26,000. KBC Group NV grew its holdings in Bloomin’ Brands by 79.1% in the third quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock valued at $56,000 after purchasing an additional 1,489 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Bloomin’ Brands in the second quarter valued at $111,000. Point72 DIFC Ltd acquired a new position in shares of Bloomin’ Brands during the 2nd quarter worth $169,000. Finally, Olympiad Research LP purchased a new stake in shares of Bloomin’ Brands in the 3rd quarter worth about $202,000.

Analyst Ratings Changes

Several research firms have weighed in on BLMN. Raymond James downgraded shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. The Goldman Sachs Group assumed coverage on Bloomin’ Brands in a research report on Thursday, December 5th. They set a “sell” rating and a $13.00 price objective for the company. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Piper Sandler cut their price target on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Finally, Barclays dropped 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $19.09.

Bloomin’ Brands Price Performance

Bloomin’ Brands stock opened at $11.97 on Thursday. Bloomin’ Brands, Inc. has a 1 year low of $11.91 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. The firm has a 50 day moving average price of $14.55 and a 200 day moving average price of $16.79. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -108.81 and a beta of 1.95.

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

Bloomin’ Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 25th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 8.02%. The ex-dividend date of this dividend was Monday, November 25th. Bloomin’ Brands’s dividend payout ratio is currently -872.73%.

Bloomin’ Brands 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.