Bloomin' Brands (NASDAQ:BLMN) Sets New 12-Month Low - Here's What Happened

Bloomin' Brands, Inc. (NASDAQ:BLMN - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $7.64 and last traded at $7.70, with a volume of 565087 shares traded. The stock had previously closed at $8.05.

Analyst Upgrades and Downgrades

BLMN has been the topic of a number of recent analyst reports. UBS Group dropped their price target on shares of Bloomin' Brands from $16.00 to $13.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Bank of America lowered shares of Bloomin' Brands from a "neutral" rating to an "underperform" rating and dropped their target price for the company from $18.00 to $13.00 in a report on Monday, January 27th. The Goldman Sachs Group dropped their price objective on Bloomin' Brands from $13.00 to $10.00 and set a "sell" rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. cut their target price on Bloomin' Brands from $10.00 to $9.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. Finally, StockNews.com raised Bloomin' Brands from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $14.50.

Bloomin' Brands Stock Performance

The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22. The company has a fifty day moving average price of $10.36 and a 200 day moving average price of $12.87. The stock has a market cap of $653.12 million, a P/E ratio of -69.90 and a beta of 2.04.

Bloomin' Brands Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.80%. The ex-dividend date was Tuesday, March 11th. Bloomin' Brands's dividend payout ratio is currently -40.27%.

Insider Buying and Selling

In related news, EVP Patrick M. Hafner sold 9,555 shares of the company's 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bloomin' Brands

Several large investors have recently bought and sold shares of BLMN. Principal Financial Group Inc. raised its holdings in shares of 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 purchasing an additional 147,895 shares during the last quarter. Victory Capital Management Inc. grew its position in Bloomin' Brands by 0.4% in the 4th quarter. Victory Capital Management Inc. now owns 2,390,703 shares of the restaurant operator's stock worth $29,190,000 after purchasing an additional 10,635 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Bloomin' Brands by 385.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,817,145 shares of the restaurant operator's stock valued at $22,187,000 after buying an additional 1,442,964 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Bloomin' Brands by 565.9% during the 4th quarter. American Century Companies Inc. now owns 1,791,366 shares of the restaurant operator's stock worth $21,873,000 after buying an additional 1,522,370 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its position in shares of Bloomin' Brands by 1.1% during the 4th quarter. William Blair Investment Management LLC now owns 1,649,084 shares of the restaurant operator's stock worth $20,135,000 after buying an additional 18,525 shares in the last quarter.

Bloomin' Brands Company 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.