Bank of New York Mellon Corp Cuts Stock Position in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Bank of New York Mellon Corp lessened its holdings in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 53.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 516,842 shares of the restaurant operator’s stock after selling 587,911 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.61% of Bloomin’ Brands worth $6,311,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Skylands Capital LLC acquired a new position in shares of Bloomin’ Brands during the 4th quarter valued at about $1,407,000. Hussman Strategic Advisors Inc. purchased a new stake in shares of Bloomin’ Brands during the fourth quarter worth approximately $641,000. Rye Brook Capital LLC increased its stake in shares of Bloomin’ Brands by 2.1% during the fourth quarter. Rye Brook Capital LLC now owns 167,700 shares of the restaurant operator’s stock worth $2,048,000 after buying an additional 3,500 shares during the period. Rhumbline Advisers increased its stake in shares of Bloomin’ Brands by 1.3% during the fourth quarter. Rhumbline Advisers now owns 238,093 shares of the restaurant operator’s stock worth $2,907,000 after buying an additional 2,977 shares during the period. Finally, Entropy Technologies LP acquired a new position in Bloomin’ Brands in the fourth quarter valued at approximately $140,000.

Insider Buying and Selling

In other Bloomin’ Brands news, EVP Patrick M. Hafner sold 9,555 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $8.32, for a total value of $79,497.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BLMN. JPMorgan Chase & Co. decreased their price objective on Bloomin’ Brands from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, March 10th. UBS Group cut their price objective on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group cut their price objective on Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating for the company in a research report on Thursday, February 27th. BMO Capital Markets dropped their price target on Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating for the company in a research report on Thursday, February 27th. Finally, Barclays set a $11.00 price objective on Bloomin’ Brands and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.60.

Bloomin’ Brands Stock Up 4.3 %

BLMN opened at $8.55 on Monday. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22. Bloomin’ Brands, Inc. has a 12 month low of $8.00 and a 12 month high of $29.10. The stock has a market capitalization of $726.16 million, a price-to-earnings ratio of -77.72 and a beta of 2.04. The business has a 50-day moving average of $11.18 and a two-hundred day moving average of $13.57.

Bloomin’ Brands Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.02%. The ex-dividend date is Tuesday, March 11th. Bloomin’ Brands’s payout ratio is currently -40.27%.

Bloomin’ Brands Profile

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.