Acadian Asset Management LLC Takes Position in Bloomin’ Brands, Inc. (BLMN)
Acadian Asset Management LLC purchased a new position in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) during the second quarter, according to its most recent disclosure with the SEC. The fund purchased 44,828 shares of the restaurant operator’s stock, valued at approximately $953,000.
Several other hedge funds have also bought and sold shares of BLMN. Vanguard Group Inc. increased its stake in Bloomin’ Brands by 11.2% in the first quarter. Vanguard Group Inc. now owns 11,991,871 shares of the restaurant operator’s stock worth $236,600,000 after buying an additional 1,203,463 shares during the period. BlackRock Inc. increased its stake in Bloomin’ Brands by 36,253.0% in the first quarter. BlackRock Inc. now owns 7,091,374 shares of the restaurant operator’s stock worth $139,913,000 after buying an additional 7,071,867 shares during the period. Earnest Partners LLC increased its stake in Bloomin’ Brands by 37.9% in the first quarter. Earnest Partners LLC now owns 3,911,225 shares of the restaurant operator’s stock worth $77,168,000 after buying an additional 1,074,463 shares during the period. RidgeWorth Capital Management LLC increased its stake in Bloomin’ Brands by 47.8% in the first quarter. RidgeWorth Capital Management LLC now owns 3,734,317 shares of the restaurant operator’s stock worth $73,678,000 after buying an additional 1,207,202 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Bloomin’ Brands by 3.1% in the first quarter. JPMorgan Chase & Co. now owns 2,394,419 shares of the restaurant operator’s stock worth $47,242,000 after buying an additional 71,063 shares during the period.
Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) traded up 0.953% during trading on Friday, reaching $17.475. The company had a trading volume of 346,417 shares. The stock’s 50-day moving average price is $19.87 and its 200-day moving average price is $19.45. Bloomin’ Brands, Inc. has a 12 month low of $15.82 and a 12 month high of $22.16. The stock has a market capitalization of $1.73 billion, a PE ratio of 19.374 and a beta of 0.72.
Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings data on Wednesday, July 26th. The restaurant operator reported $0.28 EPS for the quarter, meeting analysts’ consensus estimates of $0.28. Bloomin’ Brands had a return on equity of 74.68% and a net margin of 2.29%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. Equities analysts forecast that Bloomin’ Brands, Inc. will post $1.42 earnings per share for the current fiscal year.
Bloomin’ Brands announced that its Board of Directors has approved a share repurchase plan on Wednesday, April 26th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the restaurant operator to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, August 7th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.85%. Bloomin’ Brands’s dividend payout ratio (DPR) is presently 35.56%.
Several equities analysts recently issued reports on the company. BidaskClub cut Bloomin’ Brands from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Deutsche Bank AG lifted their price objective on Bloomin’ Brands from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Raymond James Financial, Inc. set a $24.00 price objective on Bloomin’ Brands and gave the stock a “buy” rating in a report on Thursday, July 27th. ValuEngine cut Bloomin’ Brands from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research cut Bloomin’ Brands from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $20.86.
About Bloomin’ Brands
Bloomin’ Brands, Inc is a holding company. The Company owns and operates casual, upscale casual and fine dining restaurants. The Company operates through two segments: U.S. and International. The U.S. segment includes all brands operating in the United States. The International segment includes brands operating outside the United States.
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