Bloomin' Brands (NASDAQ:BLMN) Stock Price Down 8.3% Following Analyst Downgrade

Bloomin' Brands, Inc. (NASDAQ:BLMN - Get Free Report)'s share price dropped 8.3% during mid-day trading on Friday after The Goldman Sachs Group lowered their price target on the stock from $13.00 to $10.00. The Goldman Sachs Group currently has a sell rating on the stock. Bloomin' Brands traded as low as $9.29 and last traded at $9.19. Approximately 1,835,305 shares changed hands during trading, a decline of 8% from the average daily volume of 1,994,884 shares. The stock had previously closed at $10.02.

BLMN has been the subject of several other reports. StockNews.com upgraded Bloomin' Brands from a "sell" rating to a "hold" rating in a research report on Wednesday, February 26th. BMO Capital Markets decreased their price objective on Bloomin' Brands from $16.00 to $12.00 and set a "market perform" rating on the stock in a research note on Thursday, February 27th. Piper Sandler decreased their price objective on Bloomin' Brands from $20.00 to $16.00 and set a "neutral" rating on the stock in a research note on Monday, November 11th. UBS Group cut 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. Finally, Bank of America lowered shares of Bloomin' Brands from a "neutral" rating to an "underperform" rating and cut their price objective for the company from $18.00 to $13.00 in a research report on Monday, January 27th. Two research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $15.00.

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Institutional Investors Weigh In On Bloomin' Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Bloomin' Brands in the 4th quarter valued at about $3,519,000. Public Employees Retirement System of Ohio acquired a new position in Bloomin' Brands during the 4th quarter valued at about $32,000. Two Sigma Advisers LP acquired a new position in Bloomin' Brands during the 4th quarter valued at about $1,552,000. Two Sigma Investments LP boosted its stake in Bloomin' Brands by 160.9% during the 4th quarter. Two Sigma Investments LP now owns 401,697 shares of the restaurant operator's stock valued at $4,905,000 after purchasing an additional 247,702 shares during the period. Finally, State of Wyoming increased its position in Bloomin' Brands by 99.5% in the 4th quarter. State of Wyoming now owns 10,319 shares of the restaurant operator's stock valued at $126,000 after acquiring an additional 5,146 shares during the period.

Bloomin' Brands Trading Down 2.4 %

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 stock has a market capitalization of $699.83 million, a price-to-earnings ratio of -74.90 and a beta of 1.97. The firm has a 50-day moving average of $11.72 and a 200 day moving average of $14.08.

Bloomin' Brands Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 7.28%. The ex-dividend date is Tuesday, March 11th. Bloomin' Brands's payout ratio is currently -40.27%.

About Bloomin' Brands

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.