Bank of New York Mellon Corp Sells 587,911 Shares of Bloomin' Brands, Inc. (NASDAQ:BLMN)

Bank of New York Mellon Corp decreased its holdings in Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 53.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 516,842 shares of the restaurant operator's stock after selling 587,911 shares during the quarter. Bank of New York Mellon Corp owned 0.61% of Bloomin' Brands worth $6,311,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of Bloomin' Brands by 34.8% in the 3rd quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator's stock valued at $22,830,000 after purchasing an additional 356,456 shares during the last quarter. Barclays PLC lifted its stake in shares of Bloomin' Brands by 29.4% in the 3rd quarter. Barclays PLC now owns 219,080 shares of the restaurant operator's stock valued at $3,621,000 after purchasing an additional 49,723 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Bloomin' Brands by 58.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 691,585 shares of the restaurant operator's stock valued at $11,432,000 after purchasing an additional 254,570 shares during the last quarter. Skylands Capital LLC acquired a new stake in shares of Bloomin' Brands in the 4th quarter valued at $1,407,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Bloomin' Brands by 6.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator's stock valued at $41,806,000 after purchasing an additional 147,895 shares during the last quarter.

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Insider Buying and Selling at Bloomin' Brands

In other Bloomin' Brands news, EVP Patrick M. Hafner sold 9,555 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $8.32, for a total value of $79,497.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.00% of the company's stock.

Bloomin' Brands Price Performance

NASDAQ BLMN traded down $0.13 on Tuesday, reaching $8.06. The company's stock had a trading volume of 1,242,479 shares, compared to its average volume of 1,729,627. The firm has a market cap of $684.12 million, a PE ratio of -73.22 and a beta of 2.04. The business has a 50-day moving average price of $11.09 and a 200 day moving average price of $13.50. Bloomin' Brands, Inc. has a 52 week low of $7.77 and a 52 week high of $29.10. 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 Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be given a $0.15 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a yield of 7.45%. Bloomin' Brands's dividend payout ratio (DPR) is presently -40.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Bloomin' Brands from $13.00 to $10.00 and set a "neutral" rating for the company in a research note on Monday, March 10th. Bank of America lowered shares of Bloomin' Brands from a "neutral" rating to an "underperform" rating and cut their target price for the stock from $18.00 to $13.00 in a research report on Monday, January 27th. StockNews.com raised shares of Bloomin' Brands from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. The Goldman Sachs Group cut their target price on shares of Bloomin' Brands from $13.00 to $10.00 and set a "sell" rating for the company in a research report on Thursday, February 27th. Finally, UBS Group cut their target price 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. Two investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. Based on data from MarketBeat.com, Bloomin' Brands has a consensus rating of "Hold" and a consensus target price of $14.60.

Bloomin' Brands 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.