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

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC grew its position in Bloomin' Brands by 28.9% during the 1st 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 last quarter. Farther Finance Advisors LLC grew its position in Bloomin' Brands by 402.2% during the 1st quarter. Farther Finance Advisors LLC now owns 29,362 shares of the restaurant operator's stock worth $226,000 after acquiring an additional 23,515 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Bloomin' Brands during the 1st quarter worth $151,000. Northern Trust Corp grew its position in Bloomin' Brands by 5.8% during the 4th quarter. Northern Trust Corp now owns 840,099 shares of the restaurant operator's stock worth $10,258,000 after acquiring an additional 46,422 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Bloomin' Brands during the 4th quarter worth $32,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted 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. Barclays cut 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. Morgan Stanley lifted their target price on Bloomin' Brands from $9.00 to $10.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. BMO Capital Markets cut their target price 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. Finally, The Goldman Sachs Group cut 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. Seven equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $9.88.

Bloomin' Brands Trading Down 2.0%

BLMN traded down $0.14 during midday trading on Friday, hitting $6.78. 1,446,131 shares of the company were exchanged, compared to its average volume of 2,162,799. The firm has a market capitalization of $576.77 million, a P/E ratio of -135.60 and a beta of 1.23. Bloomin' Brands, Inc. has a 1-year low of $6.09 and a 1-year high of $17.78. The firm's 50 day moving average price is $8.15 and its 200-day moving average price is $8.16. 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 (NASDAQ:BLMN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The company 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 period in the previous year, the business earned $0.51 EPS. As a group, equities analysts forecast that Bloomin' Brands, Inc. will post 1.8 EPS for the current fiscal year.

Bloomin' Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date of this dividend was Tuesday, August 19th. Bloomin' Brands's payout ratio is currently -1,200.00%.

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.