Fox Run Management L.L.C. Takes $557,000 Position 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. purchased a new position in shares of Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 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 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. GAMMA Investing LLC grew its holdings in shares of 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. Public Employees Retirement System of Ohio purchased a new position in shares of Bloomin' Brands during the 4th quarter worth $32,000. State of Wyoming lifted its stake in Bloomin' Brands by 99.5% during the 4th quarter. State of Wyoming now owns 10,319 shares of the restaurant operator's stock worth $126,000 after acquiring an additional 5,146 shares in the last quarter. US Bancorp DE lifted its stake in 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 acquiring an additional 5,209 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Bloomin' Brands by 27.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,805 shares of the restaurant operator's stock worth $185,000 after acquiring an additional 5,553 shares in the last quarter.

Bloomin' Brands Stock Up 5.7%

BLMN stock traded up $0.40 during mid-day trading on Friday, reaching $7.36. The company had a trading volume of 2,891,201 shares, compared to its average volume of 3,386,659. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.35 and a current ratio of 0.43. The company has a market capitalization of $626.12 million, a price-to-earnings ratio of -147.20 and a beta of 1.32. The firm has a fifty day simple moving average of $8.81 and a 200 day simple moving average of $8.65. Bloomin' Brands, Inc. has a fifty-two week low of $6.09 and a fifty-two week high of $18.72.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last posted its quarterly earnings results 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 analyst estimates of $974.69 million. Bloomin' Brands had a positive return on equity of 44.03% and a negative net margin of 0.12%.Bloomin' Brands's revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 EPS. Analysts forecast 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 will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $0.60 dividend on an annualized basis and a yield of 8.2%. Bloomin' Brands's dividend payout ratio (DPR) is currently -1,200.00%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. BMO Capital Markets decreased their target price on Bloomin' Brands from $10.00 to $8.00 and set a "market perform" rating on the stock in a research note on Thursday, August 7th. The Goldman Sachs Group decreased their target price on Bloomin' Brands from $8.00 to $6.50 and set a "sell" rating on the stock in a research note on Thursday, August 7th. JPMorgan Chase & Co. increased their target price on Bloomin' Brands from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 25th. Morgan Stanley increased their target price 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. Finally, UBS Group decreased their target price on Bloomin' Brands from $13.00 to $8.50 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Seven analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Bloomin' Brands presently has an average rating of "Reduce" and a consensus target price of $9.88.

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.