Bank of New York Mellon Corp reduced its position 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 Securities and Exchange Commission (SEC). The institutional investor owned 516,842 shares of the restaurant operator's stock after selling 587,911 shares during the period. Bank of New York Mellon Corp owned about 0.61% of Bloomin' Brands worth $6,311,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in BLMN. Principal Financial Group Inc. lifted its stake in Bloomin' Brands by 6.2% in the third quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator's stock valued at $41,806,000 after acquiring an additional 147,895 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Bloomin' Brands in the third quarter worth about $41,325,000. Jennison Associates LLC lifted its holdings in Bloomin' Brands by 4.4% in the 3rd quarter. Jennison Associates LLC now owns 1,411,200 shares of the restaurant operator's stock worth $23,327,000 after purchasing an additional 59,418 shares during the last quarter. FMR LLC lifted its holdings in Bloomin' Brands by 34.8% in the 3rd quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator's stock worth $22,830,000 after purchasing an additional 356,456 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Bloomin' Brands by 6.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,255,059 shares of the restaurant operator's stock worth $20,746,000 after purchasing an additional 70,925 shares during the period.
Bloomin' Brands Price Performance
Shares of BLMN stock traded down $0.37 during mid-day trading on Monday, reaching $8.18. The company's stock had a trading volume of 2,843,480 shares, compared to its average volume of 1,720,245. Bloomin' Brands, Inc. has a 1-year low of $8.00 and a 1-year high of $29.10. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31. The company has a market cap of $694.74 million, a P/E ratio of -74.36 and a beta of 2.04. The firm's 50-day moving average is $11.18 and its two-hundred day moving average is $13.57.
Bloomin' Brands Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 7.33%. The ex-dividend date is Tuesday, March 11th. Bloomin' Brands's dividend payout ratio is -40.27%.
Insider Buying and Selling at Bloomin' Brands
In other Bloomin' Brands news, EVP Patrick M. Hafner sold 9,555 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $8.32, for a total transaction of $79,497.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.00% of the company's stock.
Wall Street Analyst Weigh In
BLMN has been the subject of a number of analyst reports. Barclays set a $11.00 price objective on shares of Bloomin' Brands and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. Bank of America cut shares of Bloomin' Brands from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $18.00 to $13.00 in a report on Monday, January 27th. JPMorgan Chase & Co. dropped their price objective on Bloomin' Brands from $13.00 to $10.00 and set a "neutral" rating on the stock in a research note on Monday, March 10th. UBS Group decreased their target price on Bloomin' Brands from $16.00 to $13.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group dropped their price target on Bloomin' Brands from $13.00 to $10.00 and set a "sell" rating on the stock in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $14.60.
Check Out Our Latest Stock Analysis on BLMN
About Bloomin' Brands
(
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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