Wells Fargo & Company MN reduced its stake in Bloomin' Brands Inc (NASDAQ:BLMN) by 5.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,242,151 shares of the restaurant operator’s stock after selling 75,689 shares during the period. Wells Fargo & Company MN owned approximately 1.36% of Bloomin' Brands worth $21,861,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Gotham Asset Management LLC acquired a new stake in Bloomin' Brands in the second quarter valued at $13,380,000. Koch Industries Inc. acquired a new stake in Bloomin' Brands in the second quarter valued at $547,000. Prudential Financial Inc. raised its stake 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 buying an additional 547,210 shares in the last quarter. Castleark Management LLC acquired a new stake in Bloomin' Brands in the second quarter valued at $9,699,000. Finally, JPMorgan Chase & Co. raised its stake in Bloomin' Brands by 16.2% in the third quarter. JPMorgan Chase & Co. now owns 2,034,353 shares of the restaurant operator’s stock valued at $35,622,000 after buying an additional 283,355 shares in the last quarter.
Bloomin' Brands Inc (NASDAQ BLMN) opened at $20.87 on Monday. The stock has a market capitalization of $1,950.00, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.25 and a beta of 0.64. Bloomin' Brands Inc has a twelve month low of $16.11 and a twelve month high of $22.47. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 31.17.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Monday, November 13th were issued a dividend of $0.08 per share. This is a positive change from Bloomin' Brands’s previous quarterly dividend of $0.06. The ex-dividend date was Friday, November 10th. This represents a $0.32 annualized dividend and a dividend yield of 1.53%. Bloomin' Brands’s dividend payout ratio (DPR) is presently 41.56%.
In related news, CEO Elizabeth A. Smith sold 1,700 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $17.00, for a total transaction of $28,900.00. Following the transaction, the chief executive officer now owns 82,935 shares of the company’s stock, valued at $1,409,895. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Christopher W. Brandt sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $20.47, for a total value of $511,750.00. Following the transaction, the executive vice president now directly owns 4,416 shares in the company, valued at approximately $90,395.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 167,797 shares of company stock worth $3,144,784. Corporate insiders own 7.04% of the company’s stock.
A number of analysts have weighed in on BLMN shares. ValuEngine cut Bloomin' Brands from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Jefferies Group restated a “hold” rating and issued a $19.00 price target on shares of Bloomin' Brands in a research note on Thursday, August 31st. Raymond James Financial cut Bloomin' Brands from an “outperform” rating to a “market perform” rating and set a $24.00 price target on the stock. in a research note on Wednesday, December 6th. Citigroup cut Bloomin' Brands to a “market perform” rating in a research note on Wednesday, December 6th. Finally, Credit Suisse Group cut their price target on Bloomin' Brands from $18.50 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, November 6th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus 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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