Bloomin' Brands, Inc. (NASDAQ:BLMN) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 13.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 259,278 shares of the restaurant operator's stock after selling 40,890 shares during the period. JPMorgan Chase & Co. owned about 0.31% of Bloomin' Brands worth $3,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Bloomin' Brands by 606.6% during the 4th quarter. GAMMA Investing LLC now owns 4,890 shares of the restaurant operator's stock valued at $60,000 after buying an additional 4,198 shares in the last quarter. Entropy Technologies LP purchased a new position in Bloomin' Brands during the fourth quarter valued at $140,000. AlphaQuest LLC grew its position in shares of Bloomin' Brands by 63,457.9% in the fourth quarter. AlphaQuest LLC now owns 12,076 shares of the restaurant operator's stock valued at $147,000 after purchasing an additional 12,057 shares during the period. Fruth Investment Management purchased a new stake in shares of Bloomin' Brands during the fourth quarter worth about $152,000. Finally, EMC Capital Management raised its position in shares of Bloomin' Brands by 527,533.3% during the 4th quarter. EMC Capital Management now owns 15,829 shares of the restaurant operator's stock worth $193,000 after purchasing an additional 15,826 shares during the last quarter.

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 shares were sold at an average price of $8.32, for a total transaction of $79,497.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BLMN shares. Barclays lowered their price target on shares of Bloomin' Brands from $11.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. lowered their target price on Bloomin' Brands from $10.00 to $9.00 and set a "neutral" rating on the stock in a report on Thursday, March 20th. The Goldman Sachs Group cut their price target on Bloomin' Brands from $13.00 to $10.00 and set a "sell" rating for the company in a report on Thursday, February 27th. 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 note on Thursday, February 27th. Finally, UBS Group cut their target price on Bloomin' Brands from $16.00 to $13.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $14.30.

Bloomin' Brands Price Performance

Bloomin' Brands stock traded down $0.20 during mid-day trading on Friday, hitting $8.09. 2,226,402 shares of the company were exchanged, compared to its average volume of 1,952,493. The business's 50 day simple moving average is $8.40 and its two-hundred day simple moving average is $11.63. 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 market capitalization of $687.09 million, a P/E ratio of -73.54 and a beta of 1.76. Bloomin' Brands, Inc. has a 12-month low of $6.09 and a 12-month high of $27.29.

Bloomin' Brands Cuts Dividend

The business 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. The ex-dividend date was Tuesday, March 11th. This represents a $0.60 annualized dividend and a dividend yield of 7.42%. 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.