Royce & Associates LP Has $8.41 Million Stock Position in Bloomin' Brands, Inc. (NASDAQ:BLMN)

Royce & Associates LP grew its position in shares of Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 17.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 508,688 shares of the restaurant operator's stock after acquiring an additional 74,079 shares during the quarter. Royce & Associates LP owned 0.60% of Bloomin' Brands worth $8,409,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in Bloomin' Brands by 0.7% during the 2nd 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. increased its holdings in Bloomin' Brands by 6.2% during the third quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator's stock worth $41,806,000 after buying an additional 147,895 shares during the last quarter. Victory Capital Management Inc. raised its position in Bloomin' Brands by 29.6% during the second quarter. Victory Capital Management Inc. now owns 2,492,119 shares of the restaurant operator's stock worth $47,923,000 after acquiring an additional 569,855 shares in the last quarter. Deprince Race & Zollo Inc. bought a new stake in Bloomin' Brands during the second quarter worth $28,672,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Bloomin' Brands by 3.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,125,008 shares of the restaurant operator's stock valued at $32,267,000 after acquiring an additional 41,128 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Citigroup cut their target price 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. StockNews.com raised Bloomin' Brands from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th. Raymond James downgraded Bloomin' Brands from an "outperform" rating to a "market perform" rating in a report on Monday, November 11th. BMO Capital Markets decreased their price objective on shares of Bloomin' Brands from $27.00 to $20.00 and set a "market perform" rating on the stock in a report on Wednesday, August 7th. Finally, Piper Sandler cut their target price on shares of Bloomin' Brands from $20.00 to $16.00 and set a "neutral" rating for the company in a research note on Monday, November 11th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Bloomin' Brands has an average rating of "Hold" and a consensus price target of $19.70.

Bloomin' Brands Price Performance

NASDAQ:BLMN traded down $0.53 during trading hours on Monday, reaching $12.67. 1,942,897 shares of the company were exchanged, compared to its average volume of 1,519,703. The company has a market capitalization of $1.07 billion, a P/E ratio of -120.91 and a beta of 2.04. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.26. The business has a 50 day moving average of $16.05 and a 200 day moving average of $18.31. Bloomin' Brands, Inc. has a 1-year low of $12.58 and a 1-year high of $30.13.

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, topping analysts' consensus estimates of $0.19 by $0.02. Bloomin' Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The company had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter last year, the business earned $0.44 earnings per share. Bloomin' Brands's revenue was down 5.1% on a year-over-year basis. Research analysts forecast that Bloomin' Brands, Inc. will post 1.8 EPS for the current year.

Bloomin' Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 7.58%. The ex-dividend date of this dividend is Monday, November 25th. Bloomin' Brands's dividend payout ratio (DPR) is presently -872.73%.

Bloomin' Brands Company 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.