Bloomin' Brands, Inc. $BLMN Shares Acquired by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. increased its holdings in Bloomin' Brands by 24.2%, now owning over 424,000 shares valued at approximately $3 million.
• Bloomin' Brands reported earnings of $0.33 per share, exceeding expectations and generating $1 billion in revenue, although its net margin remained negative.
• The company declared a quarterly dividend of $0.15 per share, representing an annual yield of 8.4%, despite a highly negative payout ratio.

Advisors Asset Management Inc. raised its position in Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 24.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 424,079 shares of the restaurant operator's stock after buying an additional 82,642 shares during the period. Advisors Asset Management Inc. owned about 0.50% of Bloomin' Brands worth $3,041,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Bloomin' Brands during the 4th quarter valued at about $32,000. US Bancorp DE grew its holdings in Bloomin' Brands by 505.7% in the first quarter. US Bancorp DE now owns 6,239 shares of the restaurant operator's stock valued at $45,000 after purchasing an additional 5,209 shares during the period. GAMMA Investing LLC grew its holdings in Bloomin' Brands by 28.9% in the first quarter. GAMMA Investing LLC now owns 6,304 shares of the restaurant operator's stock valued at $45,000 after purchasing an additional 1,414 shares during the period. Headlands Technologies LLC increased its position in shares of Bloomin' Brands by 294.4% in the first quarter. Headlands Technologies LLC now owns 8,709 shares of the restaurant operator's stock valued at $62,000 after buying an additional 6,501 shares in the last quarter. Finally, State of Wyoming raised its stake in shares of Bloomin' Brands by 99.5% during the 4th quarter. State of Wyoming now owns 10,319 shares of the restaurant operator's stock worth $126,000 after buying an additional 5,146 shares during the period.

Bloomin' Brands Price Performance

Shares of BLMN stock traded down $0.14 during trading hours on Friday, reaching $6.78. The company had a trading volume of 1,446,131 shares, compared to its average volume of 2,248,451. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.35 and a current ratio of 0.43. The stock has a fifty day moving average of $8.15 and a 200-day moving average of $8.18. The company has a market capitalization of $576.77 million, a price-to-earnings ratio of -135.60 and a beta of 1.23. Bloomin' Brands, Inc. has a 12-month low of $6.09 and a 12-month high of $17.78.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The restaurant operator reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $974.69 million. Bloomin' Brands had a positive return on equity of 44.03% and a negative net margin of 0.12%.The firm's revenue was up .3% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 earnings per share. On average, equities analysts anticipate that Bloomin' Brands, Inc. will post 1.8 earnings per share for the current year.

Bloomin' Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th were given a dividend of $0.15 per share. 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%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BLMN shares. JPMorgan Chase & Co. lifted their price target on shares of Bloomin' Brands from $9.00 to $10.00 and gave the company a "neutral" rating in a research note 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 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 for the company in a research note on Wednesday, August 6th. Morgan Stanley raised their price target on shares of Bloomin' Brands from $9.00 to $10.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Finally, BMO Capital Markets cut their price objective on Bloomin' Brands from $10.00 to $8.00 and set a "market perform" rating for the company in a research note on Thursday, August 7th. Seven analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Bloomin' Brands has a consensus rating of "Reduce" and a consensus price target of $9.88.

About Bloomin' Brands

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.