Nuveen LLC Makes New Investment in Bloomin' Brands, Inc. $BLMN

Key Points

• Nuveen LLC has acquired a new stake in Bloomin' Brands, buying over 1.1 million shares valued at approximately $7.89 million, representing about 1.30% of the company's stock.
• BLOOM Brands recently reported earnings of $0.33 per share, exceeding analyst estimates, with quarterly revenue of $1 billion, slightly up from the previous year.
• The company also announced a quarterly dividend of $0.15 per share, translating to an annualized yield of 8.2%, despite a notably high payout ratio.

Nuveen LLC bought a new stake in Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,100,360 shares of the restaurant operator's stock, valued at approximately $7,890,000. Nuveen LLC owned about 1.30% of Bloomin' Brands at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Aigen Investment Management LP acquired a new position in Bloomin' Brands in the 1st quarter valued at about $374,000. Invesco Ltd. grew its holdings in Bloomin' Brands by 2.9% in the 1st quarter. Invesco Ltd. now owns 960,865 shares of the restaurant operator's stock valued at $6,889,000 after buying an additional 26,643 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Bloomin' Brands in the 1st quarter valued at about $195,000. Headlands Technologies LLC grew its holdings in 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, Charles Schwab Investment Management Inc. grew its holdings in Bloomin' Brands by 12.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,596,638 shares of the restaurant operator's stock valued at $11,448,000 after buying an additional 182,223 shares during the period.

Wall Street Analyst Weigh In

BLMN has been the subject of several recent analyst reports. BMO Capital Markets lowered their price target on Bloomin' Brands from $10.00 to $8.00 and set a "market perform" rating for the company in a report on Thursday, August 7th. UBS Group lowered their price target on Bloomin' Brands from $13.00 to $8.50 and set a "neutral" rating for the company in a report on Monday, May 5th. The Goldman Sachs Group lowered their price target on Bloomin' Brands from $8.00 to $6.50 and set a "sell" rating for the company in a report on Thursday, August 7th. Morgan Stanley lifted their price target on Bloomin' Brands from $9.00 to $10.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Finally, Barclays lowered their price target on Bloomin' Brands from $9.00 to $7.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $9.88.

Bloomin' Brands Trading Up 0.8%

Shares of NASDAQ:BLMN traded up $0.06 during trading on Friday, reaching $7.35. 1,764,376 shares of the stock were exchanged, compared to its average volume of 3,494,303. 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, Inc. has a 12-month low of $6.09 and a 12-month high of $17.89. The firm has a market cap of $625.25 million, a price-to-earnings ratio of -147.00 and a beta of 1.32. The firm's 50-day moving average price is $8.61 and its 200 day moving average price is $8.51.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $974.69 million. Bloomin' Brands had a positive return on equity of 44.03% and a negative net margin of 0.12%.The company's revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. On average, sell-side analysts anticipate that Bloomin' Brands, Inc. will post 1.8 earnings per share for the current fiscal year.

Bloomin' Brands Announces Dividend

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 issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a 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.