BlackRock Inc. Invests $62.56 Million in Bloomin' Brands, Inc. $BLMN

Key Points

• BlackRock acquired 6.84 million Bloomin’ Brands shares worth approximately $62.56 million, giving it an estimated 8% stake in the restaurant operator.
• Analysts remain cautious, with the stock carrying a consensus “Hold” rating and an average price target of $9.75, despite several firms recently raising their targets.
• Bloomin’ Brands exceeded quarterly earnings expectations, reporting $0.39 in EPS versus the $0.29 consensus and $1.02 billion in revenue, up 1.3% year over year.

BlackRock Inc. bought a new stake in shares of Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,844,981 shares of the restaurant operator's stock, valued at approximately $62,563,000. BlackRock Inc. owned approximately 8.00% of Bloomin' Brands at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP purchased a new stake in Bloomin' Brands during the 4th quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. raised its holdings in Bloomin' Brands by 83,825.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,357 shares of the restaurant operator's stock worth $29,000 after acquiring an additional 3,353 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new position in Bloomin' Brands in the 4th quarter worth approximately $31,000. PNC Financial Services Group Inc. lifted its position in Bloomin' Brands by 44.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,431 shares of the restaurant operator's stock valued at $34,000 after acquiring an additional 1,662 shares in the last quarter. Finally, Chicago Partners Investment Group LLC bought a new position in Bloomin' Brands in the 1st quarter valued at approximately $56,000.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BLMN. Citigroup decreased their price objective on shares of Bloomin' Brands from $9.50 to $8.75 and set a "neutral" rating for the company in a report on Friday, July 24th. The Goldman Sachs Group raised their target price on shares of Bloomin' Brands from $6.00 to $8.50 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Morgan Stanley boosted their target price on shares of Bloomin' Brands from $8.00 to $12.00 and gave the company an "equal weight" rating in a research note on Thursday, August 6th. UBS Group increased their price target on Bloomin' Brands from $6.00 to $9.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $11.00 price target on shares of Bloomin' Brands in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Bloomin' Brands currently has an average rating of "Hold" and a consensus target price of $9.75.

Bloomin' Brands Price Performance

BLMN opened at $10.58 on Monday. The stock has a market cap of $905.86 million, a price-to-earnings ratio of 34.13, a price-to-earnings-growth ratio of 2.73 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 firm's fifty day moving average is $9.40 and its 200 day moving average is $7.65. Bloomin' Brands, Inc. has a fifty-two week low of $5.19 and a fifty-two week high of $12.63.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The restaurant operator reported $0.39 EPS for the quarter, topping 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 business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1 billion. During the same quarter in the previous year, the company earned $0.32 EPS. The business'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. On average, sell-side analysts forecast that Bloomin' Brands, Inc. will post 0.98 earnings per share 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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