Bloomin' Brands (NASDAQ:BLMN) Price Target Lowered to $9.00 at Barclays

Bloomin' Brands (NASDAQ:BLMN - Free Report) had its target price trimmed by Barclays from $11.00 to $9.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the restaurant operator's stock.

A number of other brokerages have also issued reports on BLMN. BMO Capital Markets reduced their target price on Bloomin' Brands from $16.00 to $12.00 and set a "market perform" rating for the company in a research note on Thursday, February 27th. Bank of America cut Bloomin' Brands from a "neutral" rating to an "underperform" rating and reduced their price objective for the stock from $18.00 to $13.00 in a research note on Monday, January 27th. StockNews.com upgraded shares of Bloomin' Brands from a "sell" rating to a "hold" rating in a report on Friday, March 7th. JPMorgan Chase & Co. decreased their price objective on shares of Bloomin' Brands from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Thursday, March 20th. Finally, UBS Group cut their price objective on shares of Bloomin' Brands from $16.00 to $13.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $14.30.

Bloomin' Brands Stock Performance

NASDAQ:BLMN traded down $0.20 during trading hours on Tuesday, hitting $8.09. 2,226,402 shares of the company were exchanged, compared to its average volume of 1,956,467. The company's 50 day moving average price is $8.40 and its 200-day moving average price is $11.61. The stock has a market capitalization of $687.09 million, a price-to-earnings ratio of -73.54 and a beta of 1.76. Bloomin' Brands has a 52-week low of $6.09 and a 52-week high of $27.09. 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 Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a yield of 7.42%. Bloomin' Brands's payout ratio is -40.27%.

Insider Transactions at Bloomin' Brands

In other news, EVP Patrick M. Hafner sold 9,555 shares of the company'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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On Bloomin' Brands

Large investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new position in shares of Bloomin' Brands during the 4th quarter worth about $27,000. Public Employees Retirement System of Ohio acquired a new position in shares of Bloomin' Brands during the fourth quarter valued at approximately $32,000. Meeder Asset Management Inc. purchased a new position in shares of Bloomin' Brands in the fourth quarter valued at approximately $41,000. New Age Alpha Advisors LLC acquired a new stake in shares of Bloomin' Brands in the fourth quarter worth approximately $45,000. Finally, GAMMA Investing LLC increased its position in shares of Bloomin' Brands by 28.9% during the first quarter. GAMMA Investing LLC now owns 6,304 shares of the restaurant operator's stock worth $45,000 after purchasing an additional 1,414 shares in the last quarter.

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.