Charles Schwab Investment Management Inc. Raises Stock Holdings in Bloomin' Brands, Inc. (NASDAQ:BLMN)

Charles Schwab Investment Management Inc. grew its stake in Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 6.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,255,059 shares of the restaurant operator's stock after buying an additional 70,925 shares during the period. Charles Schwab Investment Management Inc. owned 1.48% of Bloomin' Brands worth $20,746,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. SummerHaven Investment Management LLC grew its holdings in Bloomin' Brands by 2.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 27,857 shares of the restaurant operator's stock worth $536,000 after acquiring an additional 718 shares during the period. Verdence Capital Advisors LLC boosted its position in shares of Bloomin' Brands by 6.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 12,676 shares of the restaurant operator's stock valued at $210,000 after purchasing an additional 780 shares in the last quarter. Hsbc Holdings PLC grew its stake in Bloomin' Brands by 8.7% during the second quarter. Hsbc Holdings PLC now owns 13,567 shares of the restaurant operator's stock worth $258,000 after purchasing an additional 1,083 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Bloomin' Brands by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,204 shares of the restaurant operator's stock worth $331,000 after purchasing an additional 1,354 shares in the last quarter. Finally, KBC Group NV lifted its stake in Bloomin' Brands by 79.1% in the third quarter. KBC Group NV now owns 3,371 shares of the restaurant operator's stock valued at $56,000 after buying an additional 1,489 shares during the period.

Wall Street Analyst Weigh In

Several analysts have recently commented on BLMN shares. JPMorgan Chase & Co. reduced their price objective on shares of Bloomin' Brands from $19.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, November 12th. Raymond James cut shares of Bloomin' Brands from an "outperform" rating to a "market perform" rating in a report on Monday, November 11th. Bank of America reduced their target price on Bloomin' Brands from $22.00 to $19.00 and set a "neutral" rating for the company in a research note on Tuesday, October 22nd. Piper Sandler dropped their price target 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. Finally, Barclays cut their price target on Bloomin' Brands from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $19.09.

Bloomin' Brands Stock Up 0.3 %

Shares of BLMN stock traded up $0.04 during trading hours on Friday, reaching $12.89. The company had a trading volume of 1,205,270 shares, compared to its average volume of 2,157,740. The business has a fifty day simple moving average of $15.03 and a 200-day simple moving average of $17.24. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -117.17 and a beta of 1.95. Bloomin' Brands, Inc. has a 12 month low of $12.26 and a 12 month high of $30.13. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22.

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

Bloomin' Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 25th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 7.45%. The ex-dividend date of this dividend is Monday, November 25th. Bloomin' Brands's dividend payout ratio is presently -872.65%.

Bloomin' Brands 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.