Bloomin’ Brands, Inc. (NASDAQ:BLMN) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) have earned an average rating of “Reduce” from the eleven analysts that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and nine have issued a hold rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $14.60.

BLMN has been the subject of a number of recent research reports. Barclays set a $11.00 price target on shares of Bloomin’ Brands and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. StockNews.com raised Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Friday, March 7th. UBS Group dropped their price target on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group lowered their target price on Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating on the stock in a research note on Thursday, February 27th. Finally, Bank of America cut 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 research note on Monday, January 27th.

Bloomin’ Brands Price Performance

Shares of BLMN opened at $8.18 on Tuesday. 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 has a 1-year low of $8.00 and a 1-year high of $29.10. The stock has a market cap of $694.74 million, a PE ratio of -74.36 and a beta of 2.04. The firm has a fifty day moving average price of $11.09 and a 200 day moving average price of $13.50.

Bloomin’ Brands Cuts Dividend

The business 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. This represents a $0.60 dividend on an annualized basis and a yield of 7.33%. The ex-dividend date is Tuesday, March 11th. Bloomin’ Brands’s payout ratio is currently -40.27%.

Insider Transactions at Bloomin’ Brands

In related news, EVP Patrick M. Hafner sold 9,555 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $8.32, for a total transaction of $79,497.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.00% of the company’s stock.

Institutional Trading of Bloomin’ Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KBC Group NV grew its stake in shares of Bloomin’ Brands by 79.1% during the 3rd quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock valued at $56,000 after buying an additional 1,489 shares during the period. Royce & Associates LP increased its stake in Bloomin’ Brands by 17.0% during the third quarter. Royce & Associates LP now owns 508,688 shares of the restaurant operator’s stock worth $8,409,000 after acquiring an additional 74,079 shares during the last quarter. Gladius Capital Management LP purchased a new position in shares of Bloomin’ Brands in the 3rd quarter worth about $26,000. Jennison Associates LLC lifted its stake in shares of Bloomin’ Brands by 4.4% in the 3rd quarter. Jennison Associates LLC now owns 1,411,200 shares of the restaurant operator’s stock valued at $23,327,000 after purchasing an additional 59,418 shares in the last quarter. Finally, Factorial Partners LLC grew its holdings in shares of Bloomin’ Brands by 67.1% during the 3rd quarter. Factorial Partners LLC now owns 60,000 shares of the restaurant operator’s stock worth $992,000 after purchasing an additional 24,100 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.