Bloomin’ Brands, Inc. (NASDAQ:BLMN) Shares Purchased by Victory Capital Management Inc.

Posted by MarketBeat News on Aug 2nd, 2022

Victory Capital Management Inc. raised its position in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN – Get Rating) by 7.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,674,377 shares of the restaurant operator’s stock after purchasing an additional 121,291 shares during the period. Victory Capital Management Inc. owned 1.87% of Bloomin’ Brands worth $36,737,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BLMN. New York State Teachers Retirement System boosted its stake in Bloomin’ Brands by 8.8% during the 4th quarter. New York State Teachers Retirement System now owns 93,927 shares of the restaurant operator’s stock valued at $1,971,000 after purchasing an additional 7,600 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Bloomin’ Brands during the 4th quarter valued at about $2,691,000. Yousif Capital Management LLC acquired a new position in Bloomin’ Brands during the 4th quarter valued at about $1,335,000. Assenagon Asset Management S.A. acquired a new position in Bloomin’ Brands during the 4th quarter valued at about $8,139,000. Finally, Banque Pictet & Cie SA acquired a new position in Bloomin’ Brands during the 4th quarter valued at about $328,000.

Insider Buying and Selling at Bloomin’ Brands

In other Bloomin’ Brands news, EVP Kelly Lefferts sold 8,087 shares of the company’s stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $20.82, for a total value of $168,371.34. Following the transaction, the executive vice president now owns 36,626 shares in the company, valued at approximately $762,553.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 4.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of Bloomin’ Brands from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Monday. MKM Partners reduced their price target on shares of Bloomin’ Brands from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, June 3rd. Barclays reduced their price target on shares of Bloomin’ Brands from $29.00 to $26.00 in a research note on Thursday, June 9th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $36.00 price target on shares of Bloomin’ Brands in a research note on Wednesday, April 13th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Bloomin’ Brands from $30.00 to $28.00 in a research note on Monday. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.50.

Bloomin’ Brands Stock Up 0.5 %

BLMN stock opened at $20.49 on Tuesday. Bloomin’ Brands, Inc. has a 12 month low of $15.89 and a 12 month high of $27.69. The firm has a market cap of $1.82 billion, a PE ratio of 32.52 and a beta of 1.88. The firm has a 50 day simple moving average of $18.38 and a 200 day simple moving average of $20.42. The company has a debt-to-equity ratio of 2.42, a current ratio of 0.29 and a quick ratio of 0.22.

Bloomin’ Brands (NASDAQ:BLMN – Get Rating) last released its quarterly earnings results on Friday, July 29th. The restaurant operator reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Bloomin’ Brands had a net margin of 1.76% and a return on equity of 113.44%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the business earned $0.81 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts forecast that Bloomin’ Brands, Inc. will post 2.49 earnings per share for the current fiscal year.

Bloomin’ Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $0.56 annualized dividend and a yield of 2.73%. Bloomin’ Brands’s dividend payout ratio is presently 88.89%.

Bloomin’ Brands Company Profile

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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; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.