The Goldman Sachs Group Cuts Bloomin’ Brands (NASDAQ:BLMN) Price Target to $10.00

Bloomin’ Brands (NASDAQ:BLMN) had its target price trimmed by The Goldman Sachs Group from $13.00 to $10.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a sell rating on the restaurant operator’s stock.

A number of other brokerages have also recently issued reports on BLMN. Piper Sandler decreased their target price 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. Barclays set a $11.00 price target on Bloomin’ Brands and gave the stock an “equal weight” rating in a report on Thursday. Raymond James lowered Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Bank of America lowered Bloomin’ Brands from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $18.00 to $13.00 in a report on Monday, January 27th. Two research analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. According to MarketBeat, Bloomin’ Brands currently has an average rating of “Hold” and an average price target of $15.00.

Bloomin’ Brands Stock Down 6.4 %

Shares of Bloomin’ Brands stock opened at $9.38 on Thursday. The stock has a market capitalization of $795.83 million, a P/E ratio of -85.26 and a beta of 1.97. 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 stock has a 50 day moving average price of $11.85 and a two-hundred day moving average price of $14.23. Bloomin’ Brands has a 12-month low of $9.16 and a 12-month high of $30.13.

Bloomin’ Brands Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.40%. Bloomin’ Brands’s payout ratio is -40.27%.

Institutional Trading of Bloomin’ Brands

A number of large investors have recently bought and sold shares of BLMN. Erste Asset Management GmbH bought a new stake in Bloomin’ Brands in the third quarter valued at $41,325,000. Schonfeld Strategic Advisors LLC grew its position in Bloomin’ Brands by 8,666.6% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 1,568,253 shares of the restaurant operator’s stock valued at $19,148,000 after acquiring an additional 1,550,364 shares during the period. American Century Companies Inc. grew its position in Bloomin’ Brands by 565.9% in the fourth quarter. American Century Companies Inc. now owns 1,791,366 shares of the restaurant operator’s stock valued at $21,873,000 after acquiring an additional 1,522,370 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Bloomin’ Brands by 385.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,817,145 shares of the restaurant operator’s stock valued at $22,187,000 after acquiring an additional 1,442,964 shares during the period. Finally, Marshall Wace LLP grew its position in Bloomin’ Brands by 483.0% in the fourth quarter. Marshall Wace LLP now owns 1,225,608 shares of the restaurant operator’s stock valued at $14,965,000 after acquiring an additional 1,015,372 shares during the period.

About Bloomin’ Brands

Bloomin’ Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.