Allianz Asset Management GmbH Boosts Stock Position in Bloomin' Brands, Inc. (NASDAQ:BLMN)

Key Points

• Allianz Asset Management GmbH significantly increased its stake in Bloomin' Brands, Inc. by 262.7%, purchasing an additional 31,000 shares, bringing its total to 42,800 shares valued at approximately $307,000.
• The recent earnings report showed Bloomin' Brands achieved $0.59 earnings per share, slightly exceeding analysts' expectations, while revenue was noted to be down 1.8% year-over-year.
• Analysts have varied views on Bloomin' Brands' future; UBS lowered their price target to $8.50 while others, including Morgan Stanley, increased theirs to $10.00, with the stock currently rated as a "Hold" overall.

Allianz Asset Management GmbH lifted its holdings in Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 262.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,800 shares of the restaurant operator's stock after purchasing an additional 31,000 shares during the quarter. Allianz Asset Management GmbH owned 0.05% of Bloomin' Brands worth $307,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in Bloomin' Brands during the fourth quarter worth $27,000. Public Employees Retirement System of Ohio purchased a new position in Bloomin' Brands during the fourth quarter worth $32,000. GAMMA Investing LLC boosted its stake in 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 buying an additional 1,414 shares during the period. CWM LLC boosted its stake in Bloomin' Brands by 1,342.4% during the first quarter. CWM LLC now owns 10,602 shares of the restaurant operator's stock worth $76,000 after buying an additional 9,867 shares during the period. Finally, Teacher Retirement System of Texas purchased a new position in Bloomin' Brands during the first quarter worth $80,000.

Bloomin' Brands Stock Performance

BLMN stock opened at $8.73 on Monday. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.41 and a quick ratio of 0.33. The business has a 50-day moving average price of $9.01 and a 200 day moving average price of $9.18. The company has a market capitalization of $741.44 million, a P/E ratio of -290.90 and a beta of 1.32. Bloomin' Brands, Inc. has a 1-year low of $6.09 and a 1-year high of $19.87.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The restaurant operator reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. Bloomin' Brands had a positive return on equity of 55.08% and a negative net margin of 0.05%. The firm's quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. As a group, equities research analysts forecast that Bloomin' Brands, Inc. will post 1.8 EPS for the current fiscal year.

Analysts Set New Price Targets

BLMN has been the subject of several recent analyst reports. UBS Group dropped their price objective on shares of Bloomin' Brands from $13.00 to $8.50 and set a "neutral" rating for the company in a research note on Monday, May 5th. Morgan Stanley lifted their price objective on shares of Bloomin' Brands from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. boosted their target price on shares of Bloomin' Brands from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Wednesday, June 25th. Finally, Barclays boosted their target price on shares of Bloomin' Brands from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. According to MarketBeat, Bloomin' Brands currently has an average rating of "Hold" and a consensus price target of $12.75.

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.

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