Allianz Asset Management GmbH Grows Holdings 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 grew its holdings in Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 262.7% during the first quarter, according to the company in its most recent Form 13F filing 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 about 0.05% of Bloomin' Brands worth $307,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Easterly Investment Partners LLC boosted its position in shares of Bloomin' Brands by 9.7% during the first quarter. Easterly Investment Partners LLC now owns 783,126 shares of the restaurant operator's stock worth $5,615,000 after buying an additional 69,185 shares during the period. A&I Financial Services LLC raised its position in shares of Bloomin' Brands by 74.1% in the 1st quarter. A&I Financial Services LLC now owns 48,894 shares of the restaurant operator's stock worth $351,000 after acquiring an additional 20,809 shares in the last quarter. CWM LLC increased its position in Bloomin' Brands by 1,342.4% in the 1st quarter. CWM LLC now owns 10,602 shares of the restaurant operator's stock valued at $76,000 after buying an additional 9,867 shares in the last quarter. Banque Pictet & Cie SA purchased a new position in shares of Bloomin' Brands in the 1st quarter worth approximately $245,000. Finally, Envestnet Asset Management Inc. lifted its stake in Bloomin' Brands by 85.4% in the first quarter. Envestnet Asset Management Inc. now owns 69,632 shares of the restaurant operator's stock valued at $499,000 after purchasing an additional 32,072 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. BMO Capital Markets lowered their price objective on Bloomin' Brands from $10.00 to $8.00 and set a "market perform" rating on the stock in a research report on Thursday. Morgan Stanley raised their price objective on Bloomin' Brands from $9.00 to $10.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. increased their target price on shares of Bloomin' Brands from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Wednesday, June 25th. The Goldman Sachs Group dropped their target price on shares of Bloomin' Brands from $8.00 to $6.50 and set a "sell" rating for the company in a report on Thursday. Finally, Barclays lowered their price objective on shares of Bloomin' Brands from $9.00 to $7.00 and set an "equal weight" rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a sell rating and nine 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 a consensus price target of $11.00.

Bloomin' Brands Stock Performance

NASDAQ:BLMN traded down $0.16 during trading hours on Friday, reaching $6.59. The company had a trading volume of 2,464,199 shares, compared to its average volume of 2,626,530. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 2.38. Bloomin' Brands, Inc. has a 52 week low of $6.09 and a 52 week high of $18.72. The firm has a market cap of $559.44 million, a price-to-earnings ratio of -131.10 and a beta of 1.32. The firm's 50 day moving average price is $9.02 and its 200-day moving average price is $9.09.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last issued its earnings results on Wednesday, August 6th. The restaurant operator reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $974.69 million. Bloomin' Brands had a negative net margin of 0.12% and a positive return on equity of 50.26%. Bloomin' Brands's quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 EPS. On average, analysts forecast that Bloomin' Brands, Inc. will post 1.8 EPS for the current year.

Bloomin' Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $0.60 annualized dividend and a yield of 9.1%. Bloomin' Brands's payout ratio is presently -1,200.00%.

Bloomin' Brands 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.