Bank of New York Mellon Corp Sells 212,524 Shares of Bloomin' Brands, Inc. $BLMN

Key Points

• Bank of New York Mellon cut its Bloomin’ Brands stake by 45.3% in the first quarter, selling 212,524 shares and retaining 256,708 shares valued at approximately $1.39 million.
• Analysts remain generally cautious, with nine Hold ratings, one Strong Buy and one Sell; the stock has an average price target of $9.75.
• Bloomin’ Brands exceeded quarterly earnings expectations, reporting $0.39 EPS versus the $0.29 consensus and $1.02 billion in revenue, up 1.3% year over year.

Bank of New York Mellon Corp decreased its holdings in shares of Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 45.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 256,708 shares of the restaurant operator's stock after selling 212,524 shares during the period. Bank of New York Mellon Corp owned 0.30% of Bloomin' Brands worth $1,386,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BLMN. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Bloomin' Brands by 83,825.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,357 shares of the restaurant operator's stock valued at $29,000 after purchasing an additional 3,353 shares in the last quarter. Quarry LP bought a new position in Bloomin' Brands in the fourth quarter worth approximately $25,000. Hilton Head Capital Partners LLC bought a new position in Bloomin' Brands in the fourth quarter worth approximately $31,000. PNC Financial Services Group Inc. raised its stake in Bloomin' Brands by 44.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,431 shares of the restaurant operator's stock worth $34,000 after buying an additional 1,662 shares in the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new stake in Bloomin' Brands during the fourth quarter worth $62,000.

Analysts Set New Price Targets

Several research analysts have recently commented on BLMN shares. Citigroup reduced their price target on Bloomin' Brands from $9.50 to $8.75 and set a "neutral" rating for the company in a research report on Friday, July 24th. Morgan Stanley lifted 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. Barclays boosted their target price on shares of Bloomin' Brands from $7.00 to $9.00 and gave the stock an "equal weight" rating in a report on Thursday, May 7th. Weiss Ratings raised shares of Bloomin' Brands from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, August 5th. Finally, UBS Group increased their price target on shares of Bloomin' Brands from $6.00 to $9.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. One equities 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 stock. Based on data from MarketBeat.com, Bloomin' Brands has an average rating of "Hold" and an average target price of $9.75.

Bloomin' Brands Price Performance

Shares of NASDAQ BLMN opened at $11.12 on Wednesday. Bloomin' Brands, Inc. has a fifty-two week low of $5.19 and a fifty-two week high of $12.63. The company has a market cap of $952.09 million, a PE ratio of 35.87, a P/E/G ratio of 2.91 and a beta of 1.22. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.18 and a current ratio of 0.25. The business has a 50-day simple moving average of $8.55 and a two-hundred day simple moving average of $7.26.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The restaurant operator reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.10. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. Bloomin' Brands had a net margin of 0.70% and a return on equity of 28.95%. The company's revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 earnings per share. 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. As a group, equities analysts expect that Bloomin' Brands, Inc. will post 0.95 EPS for the current fiscal year.

About Bloomin' Brands

Bloomin' Brands, Inc engages in the ownership, operation and franchising of casual dining restaurants worldwide. The company's portfolio includes five full-service restaurant chains: Outback Steakhouse, known for its Australian-inspired steakhouse concept; Carrabba's Italian Grill, offering Italian-American cuisine; Bonefish Grill, specializing in handcrafted seafood dishes; Fleming's Prime Steakhouse & Wine Bar, focusing on premium steak and wine experiences; and Aussie Grill by Outback, featuring a streamlined menu of signature items.

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