Maverick Capital Ltd. Purchases New Position in Bloomin' Brands, Inc. $BLMN

Key Points

• Maverick Capital Ltd. has made a new investment in Bloomin' Brands, Inc. amounting to approximately $3.79 million, acquiring 528,309 shares during the first quarter.
• Bloomin' Brands announced a quarterly dividend of $0.15 per share, translating to an annualized yield of 8.2%, with the ex-dividend date set for August 19th.
• The company's recent earnings report exceeded expectations, with earnings per share of $0.33 and revenues reaching $1 billion for the quarter.

Maverick Capital Ltd. purchased a new position in shares of Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 528,309 shares of the restaurant operator's stock, valued at approximately $3,788,000. Maverick Capital Ltd. owned 0.62% of Bloomin' Brands as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of BLMN. Public Employees Retirement System of Ohio acquired a new position in shares of Bloomin' Brands during the fourth quarter worth $32,000. 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 worth $45,000 after purchasing an additional 1,414 shares during the period. US Bancorp DE lifted its holdings in Bloomin' Brands by 505.7% in the first quarter. US Bancorp DE now owns 6,239 shares of the restaurant operator's stock valued at $45,000 after buying an additional 5,209 shares during the period. Headlands Technologies LLC lifted its holdings in Bloomin' Brands by 294.4% in the first 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 Bloomin' Brands by 1,342.4% in the first 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.

Bloomin' Brands Stock Down 1.4%

Shares of NASDAQ BLMN traded down $0.10 during trading on Friday, hitting $7.11. 1,874,168 shares of the company traded hands, compared to its average volume of 2,640,229. The business's fifty day moving average is $8.44 and its 200 day moving average is $8.36. Bloomin' Brands, Inc. has a fifty-two week low of $6.09 and a fifty-two week high of $17.78. The firm has a market capitalization of $604.83 million, a price-to-earnings ratio of -142.20 and a beta of 1.23. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.35 and a current ratio of 0.43.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last announced its quarterly 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. 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 for the quarter, compared to analysts' expectations of $974.69 million. During the same quarter last year, the firm earned $0.51 EPS. The firm's revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts predict that Bloomin' Brands, Inc. will post 1.8 earnings per share for the current fiscal 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 paid a $0.15 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $0.60 annualized dividend and a yield of 8.4%. Bloomin' Brands's dividend payout ratio is currently -1,200.00%.

Analyst Ratings Changes

Several research firms recently issued reports on BLMN. Barclays dropped their target price on shares of Bloomin' Brands from $9.00 to $7.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 6th. 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. 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. The Goldman Sachs Group dropped their target price on shares of Bloomin' Brands from $8.00 to $6.50 and set a "sell" rating on the stock in a report on Thursday, August 7th. Finally, BMO Capital Markets dropped their target price on shares of Bloomin' Brands from $10.00 to $8.00 and set a "market perform" rating on the stock in a report on Thursday, August 7th. Seven analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $9.88.

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.