JPMorgan Chase & Co. Issues Pessimistic Forecast for Bloomin' Brands (NASDAQ:BLMN) Stock Price

Bloomin' Brands (NASDAQ:BLMN - Free Report) had its price target cut by JPMorgan Chase & Co. from $10.00 to $9.00 in a research note published on Thursday,Benzinga reports. They currently have a neutral rating on the restaurant operator's stock.

BLMN has been the topic of several other research reports. StockNews.com upgraded Bloomin' Brands from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. The Goldman Sachs Group dropped their price objective on shares of Bloomin' Brands from $13.00 to $10.00 and set a "sell" rating on the stock in a report on Thursday, February 27th. UBS Group decreased their target price 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. Barclays set a $11.00 price target on Bloomin' Brands and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. Finally, BMO Capital Markets lowered their price objective on Bloomin' Brands from $16.00 to $12.00 and set a "market perform" rating on the stock in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $14.50.

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Bloomin' Brands Trading Up 8.4 %

Shares of Bloomin' Brands stock traded up $0.65 on Thursday, hitting $8.43. 2,377,298 shares of the company traded hands, compared to its average volume of 1,762,374. The stock's 50 day moving average price is $10.73 and its 200-day moving average price is $13.18. 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 company has a market cap of $715.97 million, a PE ratio of -76.63 and a beta of 2.04. Bloomin' Brands has a 52 week low of $7.72 and a 52 week high of $29.10.

Bloomin' Brands Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.12%. The ex-dividend date of this dividend is Tuesday, March 11th. Bloomin' Brands's dividend payout ratio (DPR) is currently -40.27%.

Insider Transactions at Bloomin' Brands

In related news, EVP Patrick M. Hafner sold 9,555 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $8.32, for a total transaction of $79,497.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BLMN. Headlands Technologies LLC bought a new stake in shares of Bloomin' Brands during the fourth quarter worth about $27,000. Public Employees Retirement System of Ohio bought a new position in Bloomin' Brands in the 4th quarter worth about $32,000. Meeder Asset Management Inc. purchased a new stake in Bloomin' Brands during the fourth quarter valued at about $41,000. New Age Alpha Advisors LLC purchased a new stake in Bloomin' Brands during the fourth quarter valued at about $45,000. Finally, KBC Group NV increased its position in shares of 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 acquiring an additional 1,489 shares during the period.

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.