JPMorgan Chase & Co. Has $4.96 Million Holdings in Bloomin' Brands, Inc. (NASDAQ:BLMN)

JPMorgan Chase & Co. lessened its position in shares of Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 38.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 300,168 shares of the restaurant operator's stock after selling 188,138 shares during the period. JPMorgan Chase & Co. owned about 0.35% of Bloomin' Brands worth $4,962,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Bloomin' Brands by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,553,719 shares of the restaurant operator's stock worth $49,105,000 after buying an additional 16,878 shares in the last quarter. Principal Financial Group Inc. boosted its position in Bloomin' Brands by 6.2% during the 3rd quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator's stock worth $41,806,000 after acquiring an additional 147,895 shares during the last quarter. Erste Asset Management GmbH bought a new position in shares of Bloomin' Brands during the 3rd quarter worth approximately $41,325,000. Deprince Race & Zollo Inc. bought a new position in shares of Bloomin' Brands during the 2nd quarter worth approximately $28,672,000. Finally, Jennison Associates LLC raised its holdings in shares of Bloomin' Brands by 4.4% in the third quarter. Jennison Associates LLC now owns 1,411,200 shares of the restaurant operator's stock valued at $23,327,000 after purchasing an additional 59,418 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group started coverage on shares of Bloomin' Brands in a research report on Thursday, December 5th. They issued a "sell" rating and a $13.00 target price for the company. Piper Sandler lowered their target price on Bloomin' Brands from $20.00 to $16.00 and set a "neutral" rating on the stock in a research report on Monday, November 11th. JPMorgan Chase & Co. dropped their target price on Bloomin' Brands from $19.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, November 12th. Bank of America decreased their price target 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. Finally, Raymond James cut Bloomin' Brands from an "outperform" rating to a "market perform" rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $16.90.

Bloomin' Brands Stock Performance

BLMN stock traded down $0.20 during midday trading on Friday, reaching $11.29. 1,532,423 shares of the company were exchanged, compared to its average volume of 1,798,075. Bloomin' Brands, Inc. has a one year low of $11.03 and a one year high of $30.13. The firm has a market capitalization of $957.84 million, a price-to-earnings ratio of -102.63 and a beta of 1.97. The business has a 50-day moving average price of $12.57 and a two-hundred day moving average price of $15.62. 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 announced its earnings results on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The business had revenue of $1.03 billion during 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%. Bloomin' Brands's revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 EPS. Equities research analysts forecast that Bloomin' Brands, Inc. will post 1.8 EPS for the current year.

Bloomin' Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 25th were paid a dividend of $0.24 per share. The ex-dividend date was Monday, November 25th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 8.50%. Bloomin' Brands's dividend payout ratio (DPR) is currently -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.