Xcel Wealth Management LLC Trims Stock Position in Bloomin' Brands, Inc. $BLMN

Key Points

• Xcel Wealth Management LLC significantly reduced its stake in Bloomin' Brands by 82.3%, selling 384,666 shares and owning approximately 0.10% post-sale.
• Several institutional investors increased their holdings in Bloomin' Brands in the second quarter, with Public Employees Retirement System of Ohio lifting its stake by 32.9%.
• Analysts have mixed views on the stock, with seven giving it a "Hold" rating, while The Goldman Sachs Group issued a "sell" rating after lowering its price target from $8.00 to $6.50.

Xcel Wealth Management LLC trimmed its stake in shares of Bloomin' Brands, Inc. (NASDAQ:BLMN - Free Report) by 82.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,654 shares of the restaurant operator's stock after selling 384,666 shares during the quarter. Xcel Wealth Management LLC owned about 0.10% of Bloomin' Brands worth $712,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio lifted its holdings in shares of Bloomin' Brands by 32.9% during the second quarter. Public Employees Retirement System of Ohio now owns 4,704 shares of the restaurant operator's stock worth $41,000 after purchasing an additional 1,164 shares during the period. Ballentine Partners LLC purchased a new position in Bloomin' Brands during the 2nd quarter worth $135,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of Bloomin' Brands in the 2nd quarter worth $318,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Bloomin' Brands by 58.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 33,445 shares of the restaurant operator's stock valued at $288,000 after acquiring an additional 12,350 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Bloomin' Brands by 16.1% in the second quarter. Harbor Capital Advisors Inc. now owns 21,552 shares of the restaurant operator's stock valued at $186,000 after acquiring an additional 2,987 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Bloomin' Brands from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Wednesday, June 25th. BMO Capital Markets reduced 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. Morgan Stanley upped their price objective on Bloomin' Brands from $9.00 to $10.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Barclays cut their price objective on Bloomin' Brands from $9.00 to $7.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. Finally, The Goldman Sachs Group decreased their target price on shares of Bloomin' Brands from $8.00 to $6.50 and set a "sell" rating on the stock in a research report 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 stock has a consensus rating of "Reduce" and an average target price of $9.88.

Bloomin' Brands Price Performance

Bloomin' Brands stock opened at $7.43 on Thursday. The firm has a market capitalization of $632.07 million, a PE ratio of -148.60 and a beta of 1.23. Bloomin' Brands, Inc. has a 52 week low of $6.09 and a 52 week high of $17.57. The firm's 50-day simple moving average is $7.70 and its 200 day simple moving average is $8.07. The company has a quick ratio of 0.35, a current ratio of 0.43 and a debt-to-equity ratio of 2.29.

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

Bloomin' Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 8.1%. The ex-dividend date was Tuesday, August 19th. 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.

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