Arrowstreet Capital Limited Partnership increased its stake in Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 385.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,817,145 shares of the restaurant operator's stock after acquiring an additional 1,442,964 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 2.14% of Bloomin' Brands worth $22,187,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in BLMN. Franklin Resources Inc. boosted its stake in Bloomin' Brands by 2.9% during the 3rd quarter. Franklin Resources Inc. now owns 50,007 shares of the restaurant operator's stock valued at $773,000 after purchasing an additional 1,392 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Bloomin' Brands by 1.3% in the fourth quarter. Rhumbline Advisers now owns 238,093 shares of the restaurant operator's stock valued at $2,907,000 after buying an additional 2,977 shares during the period. Rye Brook Capital LLC boosted its stake in Bloomin' Brands by 2.1% during the fourth quarter. Rye Brook Capital LLC now owns 167,700 shares of the restaurant operator's stock valued at $2,048,000 after buying an additional 3,500 shares in the last quarter. Stifel Financial Corp grew its holdings in Bloomin' Brands by 22.9% during the third quarter. Stifel Financial Corp now owns 19,186 shares of the restaurant operator's stock worth $317,000 after acquiring an additional 3,574 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new position in Bloomin' Brands during the fourth quarter worth about $45,000.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the stock. UBS Group reduced their price objective on shares of Bloomin' Brands from $16.00 to $13.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group reduced their target price on shares of Bloomin' Brands from $13.00 to $10.00 and set a "sell" rating for the company in a report on Thursday, February 27th. JPMorgan Chase & Co. dropped their price target on Bloomin' Brands from $10.00 to $9.00 and set a "neutral" rating on the stock in a report on Thursday, March 20th. Bank of America lowered Bloomin' Brands from a "neutral" rating to an "underperform" rating and reduced their price objective for the stock from $18.00 to $13.00 in a research note on Monday, January 27th. Finally, Barclays set a $11.00 target price on Bloomin' Brands and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $14.50.
View Our Latest Stock Report on Bloomin' Brands
Bloomin' Brands Stock Down 2.8 %
NASDAQ BLMN traded down $0.18 during trading on Tuesday, reaching $6.26. 3,263,219 shares of the company's stock were exchanged, compared to its average volume of 1,871,212. The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46. Bloomin' Brands, Inc. has a fifty-two week low of $6.09 and a fifty-two week high of $27.56. The company's fifty day simple moving average is $9.60 and its 200-day simple moving average is $12.41. The firm has a market capitalization of $531.67 million, a PE ratio of -56.90 and a beta of 1.76.
Bloomin' Brands Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 9.58%. The ex-dividend date was Tuesday, March 11th. Bloomin' Brands's dividend payout ratio is currently -40.27%.
Insider Activity at Bloomin' Brands
In related news, EVP Patrick M. Hafner sold 9,555 shares of Bloomin' Brands stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $8.32, for a total transaction of $79,497.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.00% of the stock is currently owned by insiders.
Bloomin' Brands Profile
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Free Report)
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.
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