Charles Schwab Investment Management Inc. Increases Holdings in Bloomin' Brands, Inc. $BLMN

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Bloomin' Brands by 12.9%, resulting in ownership of approximately 1.88% of the company, valued at about $11.45 million.
• A variety of analysts have adjusted their price targets for Bloomin' Brands, with current consensus at an average target of $9.88, indicating varying outlooks among firms like Morgan Stanley and BMO Capital Markets.
• Bloomin' Brands recently declared a quarterly dividend of $0.15 per share, providing a substantial annual yield of 8.4%, despite its negative dividend payout ratio.

Charles Schwab Investment Management Inc. boosted its position in Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 12.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,596,638 shares of the restaurant operator's stock after acquiring an additional 182,223 shares during the period. Charles Schwab Investment Management Inc. owned 1.88% of Bloomin' Brands worth $11,448,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in shares of 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 acquiring an additional 1,414 shares during the period. Farther Finance Advisors LLC increased its stake in Bloomin' Brands by 402.2% in the first quarter. Farther Finance Advisors LLC now owns 29,362 shares of the restaurant operator's stock valued at $226,000 after acquiring an additional 23,515 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Bloomin' Brands in the first quarter valued at approximately $151,000. Northern Trust Corp increased its stake in Bloomin' Brands by 5.8% in the fourth quarter. Northern Trust Corp now owns 840,099 shares of the restaurant operator's stock valued at $10,258,000 after acquiring an additional 46,422 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Bloomin' Brands in the fourth quarter valued at approximately $32,000.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BLMN shares. UBS Group decreased their price objective on shares of Bloomin' Brands from $13.00 to $8.50 and set a "neutral" rating on the stock in a research note on Monday, May 5th. BMO Capital Markets dropped their target price on shares of Bloomin' Brands from $10.00 to $8.00 and set a "market perform" rating for the company in a report on Thursday, August 7th. The Goldman Sachs Group cut their target price 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. Barclays cut their target price 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. Finally, JPMorgan Chase & Co. raised their target price on shares of Bloomin' Brands from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Wednesday, June 25th. Seven investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Bloomin' Brands has an average rating of "Reduce" and a consensus target price of $9.88.

Bloomin' Brands Stock Up 0.8%

BLMN traded up $0.06 during trading on Friday, hitting $7.35. 1,764,376 shares of the company's stock were exchanged, compared to its average volume of 3,494,303. The company has a quick ratio of 0.35, a current ratio of 0.43 and a debt-to-equity ratio of 2.29. The business's 50 day moving average is $8.61 and its two-hundred day moving average is $8.51. Bloomin' Brands, Inc. has a fifty-two week low of $6.09 and a fifty-two week high of $17.89. The stock has a market cap of $625.26 million, a P/E ratio of -147.00 and a beta of 1.32.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last released its quarterly earnings data 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. Bloomin' Brands had a negative net margin of 0.12% and a positive return on equity of 44.03%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $974.69 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The business's revenue was up .3% on a year-over-year basis. As a group, equities analysts expect that Bloomin' Brands, Inc. will post 1.8 earnings per share for the current fiscal year.

Bloomin' Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 8.2%. The ex-dividend date of this dividend is Tuesday, August 19th. 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.