Jennison Associates LLC Increases Position in Bloomin' Brands, Inc. (NASDAQ:BLMN)

Jennison Associates LLC boosted its holdings in Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,411,200 shares of the restaurant operator's stock after purchasing an additional 59,418 shares during the period. Jennison Associates LLC owned approximately 1.66% of Bloomin' Brands worth $23,327,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. SummerHaven Investment Management LLC grew its holdings in Bloomin' Brands by 2.6% in 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 last quarter. Verdence Capital Advisors LLC increased its holdings in 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 during the period. Hsbc Holdings PLC raised its position in Bloomin' Brands by 8.7% during the 2nd quarter. Hsbc Holdings PLC now owns 13,567 shares of the restaurant operator's stock valued at $258,000 after purchasing an additional 1,083 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Bloomin' Brands by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,204 shares of the restaurant operator's stock worth $331,000 after buying an additional 1,354 shares during the period. Finally, KBC Group NV lifted its holdings in Bloomin' Brands by 79.1% in the 3rd quarter. KBC Group NV now owns 3,371 shares of the restaurant operator's stock worth $56,000 after buying an additional 1,489 shares during the period.

Bloomin' Brands Stock Up 3.1 %

Bloomin' Brands stock traded up $0.40 during trading hours on Friday, hitting $13.19. The stock had a trading volume of 1,830,419 shares, compared to its average volume of 2,225,487. The stock's 50-day moving average price is $15.70 and its 200-day moving average price is $17.98. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46. Bloomin' Brands, Inc. has a 12-month low of $12.26 and a 12-month high of $30.13. The stock has a market capitalization of $1.12 billion, a P/E ratio of -119.90 and a beta of 2.04.

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, beating analysts' consensus estimates of $0.19 by $0.02. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 EPS. Equities research analysts anticipate that Bloomin' Brands, Inc. will post 1.8 EPS for the current fiscal year.

Bloomin' Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Monday, November 25th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 7.28%. The ex-dividend date of this dividend is Monday, November 25th. Bloomin' Brands's dividend payout ratio (DPR) is presently -872.65%.

Analysts Set New Price Targets

A number of analysts recently commented on BLMN shares. Raymond James lowered Bloomin' Brands from an "outperform" rating to a "market perform" rating in a research note on Monday, November 11th. JPMorgan Chase & Co. cut their target price 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. Citigroup decreased their price target on shares of Bloomin' Brands from $22.00 to $20.00 and set a "neutral" rating for the company in a research note on Monday, August 19th. Piper Sandler reduced their target price on Bloomin' Brands from $20.00 to $16.00 and set a "neutral" rating on the stock in a report on Monday, November 11th. Finally, UBS Group decreased their target price on Bloomin' Brands from $26.00 to $18.00 and set a "neutral" rating for the company in a research report on Wednesday, August 7th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $19.70.

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.