Bloomin' Brands, Inc. (NASDAQ:BLMN) Stock Holdings Trimmed by State Street Corp

State Street Corp lowered its stake in Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 4.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,399,188 shares of the restaurant operator's stock after selling 171,578 shares during the quarter. State Street Corp owned about 4.01% of Bloomin' Brands worth $56,189,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of BLMN. SummerHaven Investment Management LLC raised its stake in shares of Bloomin' Brands by 2.6% during the second quarter. SummerHaven Investment Management LLC now owns 27,857 shares of the restaurant operator's stock valued at $536,000 after purchasing an additional 718 shares during the period. Easterly Investment Partners LLC lifted its holdings in Bloomin' Brands by 4.2% in the 2nd quarter. Easterly Investment Partners LLC now owns 588,864 shares of the restaurant operator's stock worth $11,324,000 after buying an additional 23,466 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Bloomin' Brands by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,204 shares of the restaurant operator's stock valued at $331,000 after acquiring an additional 1,354 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Bloomin' Brands by 0.3% during the second quarter. Principal Financial Group Inc. now owns 2,381,235 shares of the restaurant operator's stock worth $45,791,000 after acquiring an additional 6,107 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Bloomin' Brands during the second quarter worth about $563,000.

Bloomin' Brands Stock Performance

NASDAQ BLMN traded down $0.05 during trading hours on Thursday, reaching $11.92. The company's stock had a trading volume of 2,353,318 shares, compared to its average volume of 1,541,536. The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46. The business has a 50-day simple moving average of $14.48 and a 200 day simple moving average of $16.76. Bloomin' Brands, Inc. has a 52 week low of $11.80 and a 52 week high of $30.13. The stock has a market cap of $1.01 billion, a PE ratio of -108.35 and a beta of 1.95.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. Bloomin' Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The business's revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. Equities research analysts predict that Bloomin' Brands, Inc. will post 1.8 earnings per share for the current fiscal year.

Bloomin' Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 25th were given a dividend of $0.24 per share. The ex-dividend date was Monday, November 25th. This represents a $0.96 annualized dividend and a dividend yield of 8.05%. Bloomin' Brands's dividend payout ratio is currently -872.73%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Bank of America dropped their price objective on Bloomin' Brands from $22.00 to $19.00 and set a "neutral" rating on the stock in a report on Tuesday, October 22nd. Piper Sandler dropped their price target on shares of Bloomin' Brands from $20.00 to $16.00 and set a "neutral" rating for the company in a research note on Monday, November 11th. JPMorgan Chase & Co. reduced their price objective on shares of Bloomin' Brands from $19.00 to $14.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 12th. StockNews.com raised shares of Bloomin' Brands from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. Finally, Barclays reduced their price target on shares of Bloomin' Brands from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Bloomin' Brands has a consensus rating of "Hold" and a consensus target price of $19.09.

Bloomin' Brands Company Profile

Bloomin' Brands, Inc, through its subsidiaries, owns and operates casual, upscale casual, and fine dining restaurants in the United States and internationally. The company operates through two segments, U.S. and International. Its restaurant portfolio has four concepts, including Outback Steakhouse, a casual steakhouse restaurant; Carrabba's Italian Grill, a casual Italian restaurant; Bonefish Grill; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.