Wellington Management Group LLP Sells 225,028 Shares of Bloomin' Brands, Inc. (NASDAQ:BLMN)

Wellington Management Group LLP trimmed its position in shares of Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 17.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,053,621 shares of the restaurant operator's stock after selling 225,028 shares during the quarter. Wellington Management Group LLP owned approximately 1.24% of Bloomin' Brands worth $17,416,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. FMR LLC boosted its position in Bloomin' Brands by 34.8% during the third quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator's stock worth $22,830,000 after acquiring an additional 356,456 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of 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 purchasing an additional 569,855 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in shares of Bloomin' Brands by 58.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 691,585 shares of the restaurant operator's stock valued at $11,432,000 after purchasing an additional 254,570 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Bloomin' Brands in the second quarter valued at $563,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Bloomin' Brands by 6.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,255,059 shares of the restaurant operator's stock worth $20,746,000 after buying an additional 70,925 shares during the period.

Bloomin' Brands Stock Performance

Shares of BLMN stock traded down $0.18 during trading on Friday, reaching $12.27. The company had a trading volume of 1,401,607 shares, compared to its average volume of 1,535,913. The firm's 50 day simple moving average is $14.66 and its two-hundred day simple moving average is $16.91. Bloomin' Brands, Inc. has a one year low of $12.18 and a one year high of $30.13. The company has a market capitalization of $1.04 billion, a PE ratio of -111.54 and a beta of 1.95. 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 posted its earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.02. The business had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.04 billion. Bloomin' Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. Bloomin' Brands's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 EPS. Sell-side analysts forecast that Bloomin' Brands, Inc. will post 1.8 earnings per share for the current year.

Bloomin' Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, November 25th were paid a $0.24 dividend. The ex-dividend date was Monday, November 25th. This represents a $0.96 annualized dividend and a yield of 7.82%. Bloomin' Brands's payout ratio is currently -872.65%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BLMN shares. Barclays cut their target price on Bloomin' Brands from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Monday, November 11th. Piper Sandler cut their price objective on Bloomin' Brands from $20.00 to $16.00 and set a "neutral" rating on the stock in a report on Monday, November 11th. StockNews.com raised shares of Bloomin' Brands from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. reduced their price target on shares of Bloomin' Brands from $19.00 to $14.00 and set a "neutral" rating on the stock in a research report on Tuesday, November 12th. Finally, Raymond James lowered shares of Bloomin' Brands from an "outperform" rating to a "market perform" rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $19.09.

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.