Envestnet Asset Management Inc. Sells 60,490 Shares of Bloomin' Brands, Inc. (NASDAQ:BLMN)

Envestnet Asset Management Inc. trimmed its stake in shares of Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 61.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,560 shares of the restaurant operator's stock after selling 60,490 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Bloomin' Brands were worth $459,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. A&I Financial Services LLC acquired a new position in shares of Bloomin' Brands during the fourth quarter worth approximately $343,000. Barclays PLC increased its holdings in shares of Bloomin' Brands by 29.4% in the third quarter. Barclays PLC now owns 219,080 shares of the restaurant operator's stock valued at $3,621,000 after buying an additional 49,723 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Bloomin' Brands by 12.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,414,415 shares of the restaurant operator's stock worth $17,270,000 after acquiring an additional 159,356 shares during the last quarter. Sei Investments Co. raised its position in shares of Bloomin' Brands by 86.0% during the fourth quarter. Sei Investments Co. now owns 381,248 shares of the restaurant operator's stock worth $4,655,000 after purchasing an additional 176,240 shares during the period. Finally, Skylands Capital LLC purchased a new stake in shares of Bloomin' Brands during the fourth quarter valued at $1,407,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BLMN shares. Bank of America lowered shares of Bloomin' Brands from a "neutral" rating to an "underperform" rating and cut their price target for the company from $18.00 to $13.00 in a report on Monday, January 27th. StockNews.com raised Bloomin' Brands from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. JPMorgan Chase & Co. reduced their price objective on Bloomin' Brands from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Thursday, March 20th. The Goldman Sachs Group dropped their target price on Bloomin' Brands from $13.00 to $10.00 and set a "sell" rating on the stock in a report on Thursday, February 27th. Finally, BMO Capital Markets decreased their price target on shares of Bloomin' Brands from $16.00 to $12.00 and set a "market perform" rating for the company in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating and ten have given a hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $13.75.

Bloomin' Brands Stock Performance

BLMN traded down $0.09 on Friday, reaching $7.24. The company had a trading volume of 862,710 shares, compared to its average volume of 1,994,114. The company's fifty day moving average is $7.87 and its 200 day moving average is $11.12. The stock has a market cap of $614.90 million, a P/E ratio of -65.81 and a beta of 1.30. Bloomin' Brands, Inc. has a fifty-two week low of $6.09 and a fifty-two week high of $24.50. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last issued its earnings results on Wednesday, May 7th. The restaurant operator reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Bloomin' Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. The company had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same period in the previous year, the company earned $0.70 EPS. The business's revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, analysts predict that Bloomin' Brands, Inc. will post 1.8 earnings per share for the current fiscal year.

Bloomin' Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 8.29%. The ex-dividend date is Tuesday, May 20th. Bloomin' Brands's dividend payout ratio (DPR) is currently -40.27%.

Insider Activity

In other Bloomin' Brands news, EVP Patrick M. Hafner sold 9,555 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $8.32, for a total value of $79,497.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.00% of the company's stock.

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.