Hsbc Holdings PLC Has $118,000 Holdings in Bloomin' Brands, Inc. $BLMN

Key Points

• Hsbc Holdings PLC has significantly reduced its stake in Bloomin' Brands, Inc. by 69.4%, now holding shares worth $118,000 after selling over 37,000 shares in the first quarter.
• The stock currently trades at $7.11, with analysts projecting an average target price of $9.88 and several recently lowering their ratings and target prices on the stock.
• Bloomin' Brands reported $1 billion in revenue for the quarter, exceeding expectations, but faced concerns with a negative net margin of 0.12% and a recent quarterly dividend yield of 8.4%.

Hsbc Holdings PLC trimmed its stake in shares of Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 69.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,389 shares of the restaurant operator's stock after selling 37,243 shares during the period. Hsbc Holdings PLC's holdings in Bloomin' Brands were worth $118,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Bloomin' Brands by 28.9% during the first quarter. GAMMA Investing LLC now owns 6,304 shares of the restaurant operator's stock valued at $45,000 after purchasing an additional 1,414 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Bloomin' Brands by 402.2% during the first quarter. Farther Finance Advisors LLC now owns 29,362 shares of the restaurant operator's stock valued at $226,000 after purchasing an additional 23,515 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Bloomin' Brands during the first quarter valued at $151,000. Northern Trust Corp lifted its holdings in shares of Bloomin' Brands by 5.8% during the fourth quarter. Northern Trust Corp now owns 840,099 shares of the restaurant operator's stock valued at $10,258,000 after purchasing an additional 46,422 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Bloomin' Brands during the fourth quarter valued at $32,000.

Bloomin' Brands Stock Up 0.4%

Bloomin' Brands stock traded up $0.03 during mid-day trading on Thursday, hitting $6.92. The company's stock had a trading volume of 2,272,340 shares, compared to its average volume of 2,296,060. The company has a debt-to-equity ratio of 2.29, a current ratio of 0.43 and a quick ratio of 0.35. Bloomin' Brands, Inc. has a 52-week low of $6.09 and a 52-week high of $17.78. The firm's 50 day moving average is $8.22 and its 200 day moving average is $8.22. The company has a market cap of $588.68 million, a PE ratio of -138.40 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 for the quarter, topping the consensus estimate of $0.28 by $0.05. Bloomin' Brands had a positive return on equity of 44.03% and a negative net margin of 0.12%.The company had revenue of $1 billion for the quarter, compared to analyst estimates of $974.69 million. During the same period in the prior year, the firm posted $0.51 EPS. The business's revenue was up .3% compared to the same quarter last year. On average, analysts anticipate that Bloomin' Brands, Inc. will post 1.8 earnings per share for the current year.

Bloomin' Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 8.7%. The ex-dividend date of this dividend was Tuesday, August 19th. Bloomin' Brands's dividend payout ratio is presently -1,200.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented 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 report on Monday, July 14th. BMO Capital Markets reduced their price objective on Bloomin' Brands from $10.00 to $8.00 and set a "market perform" rating for the company in a research note on Thursday, August 7th. Barclays reduced their price objective on Bloomin' Brands from $9.00 to $7.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 6th. JPMorgan Chase & Co. increased their price objective on Bloomin' Brands from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 25th. Finally, The Goldman Sachs Group reduced their price objective on Bloomin' Brands from $8.00 to $6.50 and set a "sell" rating for the company in a research note 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, the company 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.