Landscape Capital Management L.L.C. grew its stake in Bloomin’ Brands Inc (NASDAQ:BLMN) by 274.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 273,845 shares of the restaurant operator’s stock after purchasing an additional 200,740 shares during the period. Landscape Capital Management L.L.C. owned approximately 0.32% of Bloomin’ Brands worth $5,178,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of BLMN. LS Investment Advisors LLC purchased a new position in Bloomin’ Brands during the 2nd quarter worth $56,000. 361 Capital LLC purchased a new position in Bloomin’ Brands during the 2nd quarter worth $2,596,000. Wells Fargo & Company MN grew its stake in Bloomin’ Brands by 3.3% during the 2nd quarter. Wells Fargo & Company MN now owns 190,956 shares of the restaurant operator’s stock worth $3,611,000 after buying an additional 6,035 shares during the last quarter. CIBC Asset Management Inc purchased a new position in Bloomin’ Brands during the 2nd quarter worth $227,000. Finally, Everence Capital Management Inc. purchased a new position in Bloomin’ Brands during the 2nd quarter worth $243,000. 94.52% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently weighed in on the company. BMO Capital Markets downgraded Bloomin’ Brands from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $23.00 to $18.00 in a research note on Thursday, May 23rd. ValuEngine cut Bloomin’ Brands from a “hold” rating to a “sell” rating in a research report on Monday, July 8th. JPMorgan Chase & Co. lowered their price target on Bloomin’ Brands from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, June 28th. BidaskClub cut Bloomin’ Brands from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Loop Capital started coverage on Bloomin’ Brands in a research report on Monday, July 22nd. They set a “buy” rating and a $22.00 price target for the company. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. Bloomin’ Brands presently has an average rating of “Hold” and a consensus target price of $21.36.
Shares of BLMN stock traded down $0.39 on Thursday, hitting $15.56. The company had a trading volume of 90,521 shares, compared to its average volume of 1,668,842. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 10.49, a P/E/G ratio of 1.10 and a beta of 0.23. The company’s 50-day simple moving average is $17.64. The company has a current ratio of 0.30, a quick ratio of 0.21 and a debt-to-equity ratio of 15.18. Bloomin’ Brands Inc has a twelve month low of $15.94 and a twelve month high of $22.22.
Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Bloomin’ Brands had a return on equity of 105.54% and a net margin of 2.62%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. As a group, sell-side analysts predict that Bloomin’ Brands Inc will post 1.58 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Monday, August 12th will be issued a $0.10 dividend. The ex-dividend date is Friday, August 9th. This represents a $0.40 annualized dividend and a dividend yield of 2.57%. Bloomin’ Brands’s dividend payout ratio (DPR) is presently 26.67%.
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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
Further Reading: What are the components of an earnings report?
Want to see what other hedge funds are holding BLMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bloomin’ Brands Inc (NASDAQ:BLMN).
Receive News & Ratings for Bloomin' Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bloomin' Brands and related companies with MarketBeat.com's FREE daily email newsletter.