Bloomin' Brands, Inc. $BLMN Shares Acquired by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in Bloomin' Brands by 4.3% in Q1, owning 1,048,497 shares valued at approximately $7.5 million.
• Bloomin' Brands announced a quarterly dividend of $0.15 per share, which translates to an annualized dividend yield of 8.8% despite a negative payout ratio of -1,200%.
• Investment analysts have mixed views on Bloomin' Brands, with price targets ranging from $6.50 to $10.00 following a recent earnings report showing $0.33 EPS against expectations of $0.28.

Goldman Sachs Group Inc. raised its holdings in Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 4.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,048,497 shares of the restaurant operator's stock after buying an additional 43,329 shares during the period. Goldman Sachs Group Inc. owned about 1.23% of Bloomin' Brands worth $7,518,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC raised its stake 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 buying an additional 1,414 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Bloomin' Brands by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,395 shares of the restaurant operator's stock worth $333,000 after purchasing an additional 2,622 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Bloomin' Brands during the fourth quarter worth about $32,000. State of Wyoming grew its holdings in shares of Bloomin' Brands by 99.5% during the fourth quarter. State of Wyoming now owns 10,319 shares of the restaurant operator's stock worth $126,000 after purchasing an additional 5,146 shares during the last quarter. Finally, US Bancorp DE grew its holdings in shares of Bloomin' Brands by 505.7% during the first quarter. US Bancorp DE now owns 6,239 shares of the restaurant operator's stock worth $45,000 after purchasing an additional 5,209 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. The Goldman Sachs Group dropped their price objective on Bloomin' Brands from $8.00 to $6.50 and set a "sell" rating on the stock in a report on Thursday, August 7th. Barclays dropped their price objective on Bloomin' Brands from $9.00 to $7.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 6th. Morgan Stanley raised their price objective on Bloomin' Brands from $9.00 to $10.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. JPMorgan Chase & Co. raised their price target on Bloomin' Brands from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Wednesday, June 25th. Finally, BMO Capital Markets lowered their price target on Bloomin' Brands from $10.00 to $8.00 and set a "market perform" rating on the stock in a report on Thursday, August 7th. Seven equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $9.88.

Bloomin' Brands Price Performance

Shares of Bloomin' Brands stock traded up $0.02 during trading on Friday, hitting $6.83. 418,540 shares of the company were exchanged, compared to its average volume of 2,603,125. The company has a quick ratio of 0.35, a current ratio of 0.43 and a debt-to-equity ratio of 2.29. Bloomin' Brands, Inc. has a fifty-two week low of $6.09 and a fifty-two week high of $17.57. The stock has a market capitalization of $580.60 million, a price-to-earnings ratio of -136.70 and a beta of 1.23. The firm has a 50 day moving average price of $7.91 and a 200 day moving average price of $8.11.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last released its earnings results on Wednesday, August 6th. The restaurant operator reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $974.69 million. Bloomin' Brands had a negative net margin of 0.12% and a positive return on equity of 44.03%. Bloomin' Brands's revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 EPS. On average, equities analysts expect that Bloomin' Brands, Inc. will post 1.8 earnings per share for the current fiscal year.

Bloomin' Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date was Tuesday, August 19th. Bloomin' Brands's dividend 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.