Fox Run Management L.L.C. Makes New Investment in Bloomin' Brands, Inc. $BLMN

Key Points

• Fox Run Management L.L.C. purchased 77,631 shares of Bloomin' Brands, Inc. for about $557,000, increasing its ownership to 0.09% of the company.
• The stock has seen mixed analyst opinions, with target price reductions from Barclays and Goldman Sachs, while JPMorgan and Morgan Stanley have increased their price targets.
• Bloomin' Brands recently declared a quarterly dividend of $0.15 per share, resulting in an 8.4% dividend yield, despite a significantly negative payout ratio.

Fox Run Management L.L.C. bought a new position in Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 77,631 shares of the restaurant operator's stock, valued at approximately $557,000. Fox Run Management L.L.C. owned 0.09% of Bloomin' Brands as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in BLMN. Public Employees Retirement System of Ohio purchased a new position in Bloomin' Brands during the fourth quarter worth about $32,000. GAMMA Investing LLC increased 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 purchasing an additional 1,414 shares during the period. US Bancorp DE raised its stake in shares of Bloomin' Brands by 505.7% during the 1st quarter. US Bancorp DE now owns 6,239 shares of the restaurant operator's stock worth $45,000 after buying an additional 5,209 shares in the last quarter. Headlands Technologies LLC lifted its holdings in shares of Bloomin' Brands by 294.4% in the 1st 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 during the period. Finally, CWM LLC lifted its holdings in shares of Bloomin' Brands by 1,342.4% in the 1st quarter. CWM LLC now owns 10,602 shares of the restaurant operator's stock valued at $76,000 after buying an additional 9,867 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. 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 report on Thursday, August 7th. UBS Group reduced their price objective on shares of Bloomin' Brands from $13.00 to $8.50 and set a "neutral" rating for the company in a research note on Monday, May 5th. The Goldman Sachs Group lowered 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 dropped 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 report on Wednesday, August 6th. Finally, Morgan Stanley boosted their price target on Bloomin' Brands from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Seven research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $9.88.

Bloomin' Brands Price Performance

Shares of NASDAQ BLMN traded up $0.3450 on Friday, hitting $7.3050. The company's stock had a trading volume of 1,985,642 shares, compared to its average volume of 2,674,746. Bloomin' Brands, Inc. has a 12-month low of $6.09 and a 12-month high of $18.72. The company has a market capitalization of $621.44 million, a price-to-earnings ratio of -146.10 and a beta of 1.32. The company has a debt-to-equity ratio of 2.29, a current ratio of 0.43 and a quick ratio of 0.35. The stock has a 50 day moving average of $8.83 and a 200-day moving average of $8.71.

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 for the quarter, topping 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 44.03%. The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $974.69 million. During the same period last year, the company posted $0.51 EPS. The company's revenue was up .3% on a year-over-year basis. As a group, research analysts predict that Bloomin' Brands, Inc. will post 1.8 EPS for the current year.

Bloomin' Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 8.2%. The ex-dividend date is Tuesday, August 19th. Bloomin' Brands's dividend payout ratio is currently -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.