Bank of New York Mellon Corp trimmed its holdings in shares of Bloomin’ Brands Inc (NASDAQ:BLMN) by 3.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 655,658 shares of the restaurant operator’s stock after selling 22,761 shares during the quarter. Bank of New York Mellon Corp owned about 0.71% of Bloomin’ Brands worth $13,179,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the business. Point72 Hong Kong Ltd bought a new stake in Bloomin’ Brands during the second quarter valued at about $149,000. Royal Bank of Canada boosted its holdings in Bloomin’ Brands by 48.3% during the first quarter. Royal Bank of Canada now owns 8,274 shares of the restaurant operator’s stock valued at $201,000 after acquiring an additional 2,693 shares during the period. CSat Investment Advisory L.P. bought a new stake in Bloomin’ Brands during the second quarter valued at about $292,000. SG Americas Securities LLC boosted its holdings in Bloomin’ Brands by 44.6% during the second quarter. SG Americas Securities LLC now owns 17,287 shares of the restaurant operator’s stock valued at $347,000 after acquiring an additional 5,328 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Bloomin’ Brands during the second quarter valued at about $394,000. 95.57% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on BLMN shares. Gordon Haskett started coverage on shares of Bloomin’ Brands in a report on Thursday, October 18th. They set a “buy” rating and a $23.00 price target for the company. BidaskClub upgraded shares of Bloomin’ Brands from a “hold” rating to a “buy” rating in a research note on Tuesday, November 6th. TheStreet cut shares of Bloomin’ Brands from a “b-” rating to a “c+” rating in a research note on Monday, October 29th. Zacks Investment Research upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Friday, October 26th. Finally, ValuEngine upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $22.78.
Bloomin’ Brands (NASDAQ:BLMN) last released its earnings results on Monday, October 29th. The restaurant operator reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.01. Bloomin’ Brands had a net margin of 2.68% and a return on equity of 196.28%. The business had revenue of $965.00 million during the quarter, compared to analysts’ expectations of $965.17 million. During the same quarter last year, the company earned $0.14 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Bloomin’ Brands Inc will post 1.46 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 14th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Tuesday, November 13th. Bloomin’ Brands’s dividend payout ratio is 26.47%.
In other Bloomin’ Brands news, Director Mindy F. Grossman sold 8,000 shares of the firm’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $20.96, for a total transaction of $167,680.00. Following the completion of the transaction, the director now owns 9,790 shares in the company, valued at $205,198.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Donagh Herlihy sold 7,581 shares of the firm’s stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $20.00, for a total transaction of $151,620.00. The disclosure for this sale can be found here. 7.47% of the stock is owned by company insiders.
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About Bloomin’ Brands
Bloomin' Brands, Inc, through its subsidiaries, owns and operates casual, upscale casual, and fine dining restaurants in the United States and internationally. The company operates through two segments, U.S. and International. Its restaurant portfolio has four concepts, including Outback Steakhouse, a casual steakhouse restaurant; Carrabba's Italian Grill, a casual Italian restaurant; Bonefish Grill, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
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