Bloomin' Brands, Inc. (NASDAQ:BLMN) Position Reduced by LSV Asset Management

Key Points

• LSV Asset Management reduced its stake in Bloomin' Brands by 5.5%, holding 2,917,339 shares worth approximately $20.92 million as of its latest SEC filing.
• Analyst ratings for Bloomin' Brands show mixed sentiments, with price targets ranging from $8.50 to $13.00, and a consensus average target price of $12.75.
• Bloomin' Brands reported $1.05 billion in revenue for the last quarter, reflecting a 1.8% decline year-over-year, with earnings per share of $0.59.

LSV Asset Management lessened its position in Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 5.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,917,339 shares of the restaurant operator's stock after selling 170,800 shares during the period. LSV Asset Management owned about 3.43% of Bloomin' Brands worth $20,917,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. UBS Group cut 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 report on Monday, May 5th. BMO Capital Markets lowered their target price on shares of Bloomin' Brands from $10.00 to $8.00 and set a "market perform" rating for the company in a report on Thursday. Morgan Stanley boosted their target price on shares of Bloomin' Brands from $9.00 to $10.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. JPMorgan Chase & Co. boosted their target price on shares of Bloomin' Brands from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Wednesday, June 25th. Finally, Barclays lowered 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. Two equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $11.00.

Bloomin' Brands Stock Down 1.9%

Shares of BLMN stock traded down $0.13 on Friday, hitting $6.62. The stock had a trading volume of 2,522,105 shares, compared to its average volume of 2,626,530. The firm has a market capitalization of $562.33 million, a price-to-earnings ratio of -132.10 and a beta of 1.32. The stock's 50 day moving average is $9.02 and its 200-day moving average is $9.09. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.33 and a current ratio of 0.41. Bloomin' Brands, Inc. has a 52-week low of $6.09 and a 52-week high of $18.72.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last announced its earnings results on Wednesday, August 6th. The restaurant operator reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.05. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $974.69 million. Bloomin' Brands had a negative net margin of 0.12% and a positive return on equity of 50.26%. The business's quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. As a group, research analysts expect 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 will be paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $0.60 annualized dividend and a dividend yield of 9.1%. Bloomin' Brands's dividend payout ratio is -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.