Public Sector Pension Investment Board Has $1.72 Million Stake in Bloomin' Brands, Inc. $BLMN

Key Points

• The Public Sector Pension Investment Board increased its stake in Bloomin' Brands, Inc. by 27.3% during the first quarter, holding 239,479 shares worth approximately $1.72 million.
• Several analysts have adjusted their price targets for Bloomin' Brands, with Goldman Sachs lowering it to $6.50 and JPMorgan raising it to $10.00, showing varying outlooks on the stock.
• Bloomin' Brands announced a quarterly dividend of $0.15 per share, reflecting an annualized yield of 8.4%, despite a negative dividend payout ratio of -1,200.00%.

Public Sector Pension Investment Board grew its holdings in shares of Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 27.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 239,479 shares of the restaurant operator's stock after purchasing an additional 51,312 shares during the period. Public Sector Pension Investment Board owned about 0.28% of Bloomin' Brands worth $1,717,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BLMN. Nuveen LLC bought a new position in Bloomin' Brands in the first quarter valued at approximately $7,890,000. Aigen Investment Management LP bought a new position in Bloomin' Brands in the first quarter valued at approximately $374,000. Invesco Ltd. increased its stake in Bloomin' Brands by 2.9% in the first quarter. Invesco Ltd. now owns 960,865 shares of the restaurant operator's stock valued at $6,889,000 after acquiring an additional 26,643 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Bloomin' Brands in the first quarter valued at approximately $195,000. Finally, Headlands Technologies LLC increased its stake 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 acquiring an additional 6,501 shares during the last quarter.

Wall Street Analysts Forecast Growth

BLMN has been the topic of a number of recent analyst reports. BMO Capital Markets decreased their price objective on shares of 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. Morgan Stanley lifted their price objective on shares of Bloomin' Brands from $9.00 to $10.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. lifted their price objective on shares of Bloomin' Brands from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Wednesday, June 25th. Barclays decreased their price objective on shares of Bloomin' Brands from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. Finally, UBS Group cut their target price on shares of Bloomin' Brands from $13.00 to $8.50 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Seven research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $9.88.

Bloomin' Brands Trading Up 0.3%

Shares of NASDAQ:BLMN traded up $0.02 during mid-day trading on Tuesday, reaching $7.17. 2,279,985 shares of the company's stock were exchanged, compared to its average volume of 3,457,979. The firm has a market capitalization of $609.95 million, a price-to-earnings ratio of -143.40 and a beta of 1.32. The business's fifty day moving average price is $8.72 and its 200-day moving average price is $8.58. 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 twelve month low of $6.09 and a twelve month high of $17.89.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The restaurant operator reported $0.33 EPS for the quarter, topping 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 negative net margin of 0.12% and a positive return on equity of 44.03%. Bloomin' Brands's revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 earnings per share. On average, research analysts predict that Bloomin' Brands, Inc. will post 1.8 EPS for the current fiscal year.

Bloomin' Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 8.4%. The ex-dividend date is Tuesday, August 19th. Bloomin' Brands's payout ratio is -1,200.00%.

Bloomin' Brands Company 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.