Bayforest Capital Ltd Lowers Stock Position in Bloomin’ Brands, Inc. $BLMN

Bayforest Capital Ltd decreased its position in Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 95.3% in the second quarter, Holdings Channel reports. The institutional investor owned 6,109 shares of the restaurant operator’s stock after selling 123,962 shares during the period. Bayforest Capital Ltd’s holdings in Bloomin’ Brands were worth $53,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of BLMN. Millennium Management LLC grew its holdings in Bloomin’ Brands by 123.1% in the first quarter. Millennium Management LLC now owns 2,299,778 shares of the restaurant operator’s stock valued at $16,489,000 after purchasing an additional 1,268,988 shares during the period. Nuveen LLC acquired a new stake in Bloomin’ Brands in the 1st quarter valued at $7,890,000. Landscape Capital Management L.L.C. increased its holdings in Bloomin’ Brands by 1,549.5% in the 1st quarter. Landscape Capital Management L.L.C. now owns 637,264 shares of the restaurant operator’s stock worth $4,569,000 after acquiring an additional 598,630 shares in the last quarter. Carolina Wealth Advisors LLC acquired a new position in Bloomin’ Brands during the first quarter worth $3,812,000. Finally, Maverick Capital Ltd. acquired a new position in Bloomin’ Brands during the first quarter worth $3,788,000.

Bloomin’ Brands Stock Down 3.1%

Shares of NASDAQ BLMN opened at $7.41 on Friday. The stock has a market cap of $630.37 million, a PE ratio of -148.20 and a beta of 1.27. The company has a current ratio of 0.43, a quick ratio of 0.35 and a debt-to-equity ratio of 2.29. Bloomin’ Brands, Inc. has a 12-month low of $6.09 and a 12-month high of $17.57. The company has a 50-day moving average of $7.15 and a 200 day moving average of $7.98.

Bloomin’ Brands (NASDAQ:BLMN) last issued its earnings results on Wednesday, August 6th. The restaurant operator reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. Bloomin’ Brands had a positive return on equity of 44.03% and a negative net margin of 0.12%.The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $974.69 million. During the same period in the previous year, the firm posted $0.51 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, sell-side analysts predict that Bloomin’ Brands, Inc. will post 1.8 EPS for the current fiscal year.

Bloomin’ Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Tuesday, August 19th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 8.1%. Bloomin’ Brands’s dividend payout ratio is currently -1,200.00%.

Analyst Upgrades and Downgrades

BLMN has been the subject of a number of research reports. The Goldman Sachs Group cut their target price on shares of Bloomin’ Brands from $8.00 to $6.50 and set a “sell” rating for the company in a research note on Thursday, August 7th. BMO Capital Markets cut their price objective on Bloomin’ Brands from $10.00 to $8.00 and set a “market perform” rating for the company in a research note on Thursday, August 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Bloomin’ Brands in a report on Wednesday, October 8th. Barclays lowered their price target on Bloomin’ Brands from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 6th. Finally, Morgan Stanley increased their price objective on Bloomin’ Brands from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. Seven analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Bloomin’ Brands presently has an average rating of “Reduce” and a consensus price target of $9.88.

Bloomin’ Brands Company 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.