Bayforest Capital Ltd Acquires New Position in Bloomin' Brands, Inc. $BLMN

Key Points

• Bayforest Capital Ltd has acquired a new position in Bloomin' Brands, purchasing 130,071 shares valued at approximately $933,000, representing 0.15% ownership of the company.
• Bloomin' Brands recently reported earnings of $0.33 per share, exceeding analysts' expectations, with revenue rising to $1 billion for the quarter.
• Several analysts have adjusted their price targets for Bloomin' Brands, with a consensus rating of "Reduce" and a target price of $9.88.

Bayforest Capital Ltd bought a new stake in Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 130,071 shares of the restaurant operator's stock, valued at approximately $933,000. Bayforest Capital Ltd owned about 0.15% of Bloomin' Brands at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Caxton Associates LLP acquired a new stake in Bloomin' Brands during the 1st quarter worth $170,000. Goldman Sachs Group Inc. raised its stake in Bloomin' Brands by 4.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,048,497 shares of the restaurant operator's stock worth $7,518,000 after acquiring an additional 43,329 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Bloomin' Brands during the 1st quarter worth $601,000. Millennium Management LLC raised its stake in Bloomin' Brands by 123.1% during the 1st quarter. Millennium Management LLC now owns 2,299,778 shares of the restaurant operator's stock worth $16,489,000 after acquiring an additional 1,268,988 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Bloomin' Brands by 6.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,395 shares of the restaurant operator's stock worth $333,000 after acquiring an additional 2,622 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Bloomin' Brands from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 25th. Morgan Stanley lifted their price target 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. Barclays lowered their price objective on shares of Bloomin' Brands from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. BMO Capital Markets lowered their price objective on shares of Bloomin' Brands from $10.00 to $8.00 and set a "market perform" rating on the stock in a research report on Thursday, August 7th. Finally, The Goldman Sachs Group lowered their price objective on shares of Bloomin' Brands from $8.00 to $6.50 and set a "sell" rating on the stock in a research report on Thursday, August 7th. Seven equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Bloomin' Brands presently has an average rating of "Reduce" and a consensus price target of $9.88.

Bloomin' Brands Stock Performance

Shares of NASDAQ:BLMN traded down $0.14 during midday trading on Friday, hitting $6.78. The stock had a trading volume of 1,446,131 shares, compared to its average volume of 2,248,451. The company has a market capitalization of $576.77 million, a PE ratio of -135.60 and a beta of 1.23. The stock has a 50 day moving average price of $8.15 and a two-hundred day moving average price of $8.17. The company has a current ratio of 0.43, a quick ratio of 0.35 and a debt-to-equity ratio of 2.29. Bloomin' Brands, Inc. has a 1 year low of $6.09 and a 1 year high of $17.78.

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, beating the consensus estimate of $0.28 by $0.05. The business had revenue of $1 billion for 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 44.03%. The business's quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 earnings per share. As a group, equities analysts predict that Bloomin' Brands, Inc. will post 1.8 earnings per share for the current fiscal year.

Bloomin' Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $0.60 annualized dividend and a dividend yield of 8.8%. Bloomin' Brands's payout ratio is presently -1,200.00%.

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.