Boothbay Fund Management LLC acquired a new position in shares of Bloomin' Brands Inc (NASDAQ:BLMN) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,256 shares of the restaurant operator’s stock, valued at approximately $181,000.
Several other institutional investors also recently made changes to their positions in BLMN. Gotham Asset Management LLC acquired a new position in shares of Bloomin' Brands during the second quarter worth about $13,380,000. Koch Industries Inc. acquired a new position in Bloomin' Brands in the second quarter valued at approximately $547,000. Prudential Financial Inc. boosted its holdings in Bloomin' Brands by 94.8% in the second quarter. Prudential Financial Inc. now owns 1,124,340 shares of the restaurant operator’s stock valued at $23,870,000 after purchasing an additional 547,210 shares in the last quarter. Castleark Management LLC acquired a new position in Bloomin' Brands in the second quarter valued at approximately $9,699,000. Finally, Kestrel Investment Management Corp acquired a new position in Bloomin' Brands in the third quarter valued at approximately $8,026,000.
In other news, Chairman Elizabeth A. Smith sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $17.00, for a total transaction of $1,700,000.00. Following the completion of the sale, the chairman now owns 82,935 shares in the company, valued at $1,409,895. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Elizabeth A. Smith sold 1,700 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $17.00, for a total value of $28,900.00. Following the sale, the chief executive officer now owns 82,935 shares of the company’s stock, valued at approximately $1,409,895. The disclosure for this sale can be found here. Insiders sold 167,797 shares of company stock valued at $3,144,784 over the last three months. Corporate insiders own 7.04% of the company’s stock.
Bloomin' Brands (NASDAQ:BLMN) last posted its quarterly earnings data on Friday, November 3rd. The restaurant operator reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.04). The firm had revenue of $948.90 million during the quarter, compared to analyst estimates of $944.30 million. Bloomin' Brands had a net margin of 1.93% and a return on equity of 94.30%. Bloomin' Brands’s revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 earnings per share. sell-side analysts predict that Bloomin' Brands Inc will post 1.33 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Monday, November 13th were issued a $0.08 dividend. This is an increase from Bloomin' Brands’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Friday, November 10th. Bloomin' Brands’s dividend payout ratio is presently 41.56%.
BLMN has been the subject of a number of research analyst reports. ValuEngine downgraded Bloomin' Brands from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Bank of America downgraded Bloomin' Brands from a “buy” rating to a “neutral” rating and set a $21.00 price target for the company. in a report on Wednesday, November 22nd. Jefferies Group reaffirmed a “hold” rating and issued a $19.00 price target on shares of Bloomin' Brands in a report on Thursday, August 31st. Credit Suisse Group lowered their price target on Bloomin' Brands from $18.50 to $18.00 and set a “neutral” rating for the company in a report on Monday, November 6th. Finally, Barclays lowered their price target on Bloomin' Brands from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 18th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $21.00.
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Bloomin' Brands Profile
Bloomin’ Brands, Inc is a holding company. The Company owns and operates casual, upscale casual and fine dining restaurants. The Company operates through two segments: U.S. and International. The U.S. segment includes all brands operating in the United States. The International segment includes brands operating outside the United States.
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