196,557 Shares in Bloomin' Brands, Inc. $BLMN Bought by Bank of America Corp DE

Key Points

• Bank of America purchased 196,557 shares of Bloomin' Brands in the second quarter, valued at approximately $1.8 million and representing 0.23% of the company.
• Bloomin' Brands reported quarterly earnings of $0.39 per share, beating estimates of $0.29, while revenue rose 1.3% year over year to $1.02 billion.
• Analysts maintain a consensus “Hold” rating with an average price target of $10.60; the stock recently traded at $8.38.

Bank of America Corp DE purchased a new stake in Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 196,557 shares of the restaurant operator's stock, valued at approximately $1,797,000. Bank of America Corp DE owned 0.23% of Bloomin' Brands at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BLMN. Man Group plc bought a new position in shares of Bloomin' Brands in the second quarter worth approximately $450,000. Invst LLC bought a new stake in Bloomin' Brands during the second quarter worth about $1,585,000. Miller Value Partners LLC bought a new position in shares of Bloomin' Brands during the 2nd quarter valued at about $23,635,000. Jupiter Topco LLC bought a new stake in Bloomin' Brands in the 2nd quarter worth approximately $5,718,000. Finally, Hsbc Holdings PLC purchased a new stake in Bloomin' Brands in the second quarter worth approximately $94,000.

Bloomin' Brands Stock Performance

Shares of Bloomin' Brands stock opened at $8.38 on Friday. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.25 and a quick ratio of 0.18. The stock has a market cap of $717.50 million, a price-to-earnings ratio of 27.03, a PEG ratio of 2.03 and a beta of 1.27. Bloomin' Brands, Inc. has a 1 year low of $5.19 and a 1 year high of $12.63. The firm's 50-day moving average is $9.53 and its 200 day moving average is $8.08.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The restaurant operator reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.10. Bloomin' Brands had a net margin of 0.70% and a return on equity of 28.95%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the firm earned $0.32 earnings per share. The firm's quarterly revenue was up 1.3% compared to the same quarter last year. Bloomin' Brands has set its FY 2026 guidance at 0.900-1.000 EPS and its Q3 2026 guidance at -0.270--0.220 EPS. Sell-side analysts anticipate that Bloomin' Brands, Inc. will post 0.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BLMN shares. Morgan Stanley boosted their target price on Bloomin' Brands from $8.00 to $12.00 and gave the company an "equal weight" rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $11.00 target price on shares of Bloomin' Brands in a report on Thursday, August 6th. BMO Capital Markets reiterated a "market perform" rating and issued a $12.00 price objective on shares of Bloomin' Brands in a research report on Thursday, August 6th. Weiss Ratings downgraded shares of Bloomin' Brands from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, August 19th. Finally, Veritas Investment Research set a $13.00 price target on shares of Bloomin' Brands in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $10.60.

About Bloomin' Brands

Bloomin' Brands, Inc is a restaurant company that owns, operates and franchises a portfolio of casual dining and upscale-casual restaurant concepts. Its brands include Outback Steakhouse, known for steaks and other Australian-inspired menu offerings; Carrabba's Italian Grill, which specializes in Italian-American cuisine; Bonefish Grill, focused on seafood and grilled dishes; and Fleming's Prime Steakhouse & Wine Bar, which offers prime steaks, seafood and wine. The company also operates additional concepts, including Aussie Grill and Tender Shack.

Bloomin' Brands serves customers primarily in the United States, with restaurants and franchise operations in select international markets.

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