Bloomin’ Brands, Inc. (NASDAQ:BLMN) Shares Bought by Texas Permanent School Fund

Texas Permanent School Fund boosted its holdings in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMNGet Rating) by 1.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 58,282 shares of the restaurant operator’s stock after buying an additional 703 shares during the quarter. Texas Permanent School Fund’s holdings in Bloomin’ Brands were worth $969,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in Bloomin’ Brands by 7.8% during the 1st quarter. Victory Capital Management Inc. now owns 1,674,377 shares of the restaurant operator’s stock valued at $36,737,000 after purchasing an additional 121,291 shares during the last quarter. Principal Financial Group Inc. grew its stake in Bloomin’ Brands by 3.8% during the 1st quarter. Principal Financial Group Inc. now owns 1,619,844 shares of the restaurant operator’s stock valued at $35,539,000 after purchasing an additional 59,059 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Bloomin’ Brands by 18.0% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 625,707 shares of the restaurant operator’s stock valued at $13,728,000 after purchasing an additional 95,635 shares during the last quarter. Swiss National Bank grew its stake in Bloomin’ Brands by 7.4% during the 1st quarter. Swiss National Bank now owns 189,900 shares of the restaurant operator’s stock valued at $4,166,000 after purchasing an additional 13,100 shares during the last quarter. Finally, Aigen Investment Management LP grew its stake in Bloomin’ Brands by 45.3% during the 2nd quarter. Aigen Investment Management LP now owns 20,659 shares of the restaurant operator’s stock valued at $343,000 after purchasing an additional 6,443 shares during the last quarter.

Bloomin’ Brands Stock Performance

Shares of BLMN stock opened at $23.39 on Friday. The business’s 50 day moving average is $21.24 and its two-hundred day moving average is $20.25. Bloomin’ Brands, Inc. has a 12-month low of $15.89 and a 12-month high of $25.51. The company has a market capitalization of $2.05 billion, a P/E ratio of 24.88 and a beta of 1.88. The company has a current ratio of 0.30, a quick ratio of 0.21 and a debt-to-equity ratio of 3.42.

Bloomin’ Brands (NASDAQ:BLMNGet Rating) last announced its earnings results on Friday, October 28th. The restaurant operator reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Bloomin’ Brands had a return on equity of 92.10% and a net margin of 2.39%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. Analysts expect that Bloomin’ Brands, Inc. will post 2.46 EPS for the current fiscal year.

Bloomin’ Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 23rd. Investors of record on Wednesday, November 9th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.56 annualized dividend and a dividend yield of 2.39%. Bloomin’ Brands’s dividend payout ratio is presently 59.58%.

Analysts Set New Price Targets

Several research firms have weighed in on BLMN. StockNews.com began coverage on Bloomin’ Brands in a research note on Wednesday, October 12th. They set a “buy” rating on the stock. Barclays upped their target price on Bloomin’ Brands from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, October 31st. BMO Capital Markets lowered their target price on Bloomin’ Brands from $33.00 to $29.00 in a research note on Monday, August 1st. Morgan Stanley upped their target price on Bloomin’ Brands from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday, October 31st. Finally, Jefferies Financial Group restated a “buy” rating on shares of Bloomin’ Brands in a research note on Wednesday, November 2nd. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Bloomin’ Brands has a consensus rating of “Moderate Buy” and an average price target of $27.89.

Insider Activity at Bloomin’ Brands

In related news, Director Elizabeth A. Smith sold 200,000 shares of the stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $24.19, for a total value of $4,838,000.00. Following the completion of the sale, the director now owns 243,594 shares of the company’s stock, valued at $5,892,538.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Elizabeth A. Smith sold 200,000 shares of the stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $24.19, for a total value of $4,838,000.00. Following the completion of the sale, the director now owns 243,594 shares of the company’s stock, valued at $5,892,538.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David J. Deno sold 60,354 shares of the firm’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $24.39, for a total value of $1,472,034.06. Following the sale, the chief executive officer now directly owns 372,222 shares of the company’s stock, valued at approximately $9,078,494.58. The disclosure for this sale can be found here. Insiders own 4.85% of the company’s stock.

Bloomin’ Brands Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Bloomin' Brands (NASDAQ:BLMN)

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