Comerica Bank Sells 45,264 Shares of Bloomin' Brands, Inc. $BLMN

Key Points

• Comerica Bank reduced its stake in Bloomin' Brands, Inc. by 51.8%, selling 45,264 shares and bringing its holdings to 42,142 shares valued at $302,000.
• Several institutional investors, including Stifel Financial and Northern Trust, have increased their positions in Bloomin' Brands, indicating varied investment strategies among major shareholders.
• Bloomin' Brands reported a quarterly earnings per share (EPS) of $0.33, exceeding analysts' estimates, along with a revenue of $1 billion for the quarter.

Comerica Bank cut its position in Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 51.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,142 shares of the restaurant operator's stock after selling 45,264 shares during the quarter. Comerica Bank's holdings in Bloomin' Brands were worth $302,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Stifel Financial Corp lifted its position in shares of Bloomin' Brands by 31.5% during the 4th quarter. Stifel Financial Corp now owns 25,227 shares of the restaurant operator's stock valued at $308,000 after acquiring an additional 6,041 shares during the period. Northern Trust Corp lifted its position in shares of Bloomin' Brands by 5.8% during the 4th 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 period. Ameriprise Financial Inc. lifted its position in shares of Bloomin' Brands by 6.9% during the 4th quarter. Ameriprise Financial Inc. now owns 454,246 shares of the restaurant operator's stock valued at $5,546,000 after acquiring an additional 29,331 shares during the period. Deutsche Bank AG lifted its position in shares of Bloomin' Brands by 45.0% during the 4th quarter. Deutsche Bank AG now owns 69,699 shares of the restaurant operator's stock valued at $851,000 after acquiring an additional 21,631 shares during the period. Finally, Graham Capital Management L.P. bought a new stake in shares of Bloomin' Brands during the 4th quarter valued at $511,000.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Morgan Stanley upped their target price on Bloomin' Brands from $9.00 to $10.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Barclays reduced their target price 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. The Goldman Sachs Group reduced their target price on Bloomin' Brands from $8.00 to $6.50 and set a "sell" rating on the stock in a report on Thursday, August 7th. BMO Capital Markets dropped their price objective on Bloomin' Brands from $10.00 to $8.00 and set a "market perform" rating for the company in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. upped their price objective on Bloomin' Brands from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 25th. Seven analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $9.88.

Bloomin' Brands Price Performance

Shares of BLMN opened at $6.91 on Wednesday. Bloomin' Brands, Inc. has a 12-month low of $6.09 and a 12-month high of $17.78. The business has a 50-day simple moving average of $8.35 and a two-hundred day simple moving average of $8.26. 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 stock has a market cap of $587.83 million, a PE ratio of -138.20 and a beta of 1.23.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $974.69 million. Bloomin' Brands had a positive return on equity of 44.03% and a negative net margin of 0.12%.The business's revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 EPS. Analysts anticipate that Bloomin' Brands, Inc. will post 1.8 earnings per share for the current fiscal year.

Bloomin' Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th were paid 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 8.7%. Bloomin' Brands's dividend 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.

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