Envestnet Asset Management Inc. Has $499,000 Stake in Bloomin' Brands, Inc. (NASDAQ:BLMN)

Key Points

• Envestnet Asset Management Inc. increased its stake in Bloomin' Brands, Inc. by 85.4% during the 1st quarter, bringing its total shares to 69,632, worth approximately $499,000.
• Several institutional investors have also adjusted their positions in Bloomin' Brands, with notable increases including a 99.5% stake lift by the State of Wyoming and a 42.8% increase by FORA Capital LLC.
• Research analysts have mixed ratings for Bloomin' Brands, with an average target price of $12.75 and a consensus rating of "Hold," despite some firms raising their target prices recently.

Envestnet Asset Management Inc. increased its position in shares of Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 85.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,632 shares of the restaurant operator's stock after purchasing an additional 32,072 shares during the quarter. Envestnet Asset Management Inc. owned 0.08% of Bloomin' Brands worth $499,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Headlands Technologies LLC bought a new stake in Bloomin' Brands during the fourth quarter worth about $27,000. Public Employees Retirement System of Ohio bought a new stake in Bloomin' Brands during the fourth quarter worth about $32,000. GAMMA Investing LLC lifted its position in 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 purchasing an additional 1,414 shares during the period. Teacher Retirement System of Texas bought a new stake in Bloomin' Brands during the first quarter worth about $80,000. Finally, State of Wyoming lifted its position in 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 period.

Bloomin' Brands Trading Down 1.8%

NASDAQ BLMN traded down $0.12 during trading hours on Friday, reaching $6.63. The company's stock had a trading volume of 4,310,346 shares, compared to its average volume of 2,596,395. The firm has a fifty day simple moving average of $9.00 and a 200-day simple moving average of $9.05. The stock has a market cap of $563.09 million, a P/E ratio of -132.60 and a beta of 1.32. Bloomin' Brands, Inc. has a 52 week low of $6.09 and a 52 week high of $18.72. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.41 and a quick ratio of 0.33.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last issued 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. Bloomin' Brands had a negative net margin of 0.12% and a positive return on equity of 50.26%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $974.69 million. During the same quarter last year, the business earned $0.51 EPS. The firm's quarterly revenue was up .3% on a year-over-year basis. Equities analysts forecast that Bloomin' Brands, Inc. will post 1.8 earnings per share for the current fiscal year.

Bloomin' Brands Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, August 19th. This represents a $0.60 annualized dividend and a yield of 9.0%. Bloomin' Brands's dividend payout ratio (DPR) is presently -1,200.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BLMN shares. BMO Capital Markets reduced their price target on shares of Bloomin' Brands from $10.00 to $8.00 and set a "market perform" rating on the stock in a research note on Thursday. JPMorgan Chase & Co. raised 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. UBS Group reduced their price target 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. Barclays reduced their price target on shares of Bloomin' Brands from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Finally, The Goldman Sachs Group reduced their price target on shares of Bloomin' Brands from $8.00 to $6.50 and set a "sell" rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $11.00.

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.