Envestnet Asset Management Inc. Acquires 2,315 Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Envestnet Asset Management Inc. lifted its holdings in Bloomin’ Brands, Inc. (NASDAQ:BLMNGet Rating) by 3.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 70,048 shares of the restaurant operator’s stock after buying an additional 2,315 shares during the period. Envestnet Asset Management Inc.’s holdings in Bloomin’ Brands were worth $1,164,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of Bloomin’ Brands by 13.0% in the 1st quarter. BlackRock Inc. now owns 15,152,121 shares of the restaurant operator’s stock worth $332,436,000 after buying an additional 1,747,152 shares during the last quarter. Vanguard Group Inc. grew its holdings in Bloomin’ Brands by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 9,595,706 shares of the restaurant operator’s stock valued at $210,531,000 after purchasing an additional 68,770 shares during the last quarter. Clearbridge Investments LLC grew its holdings in Bloomin’ Brands by 171.3% during the 1st quarter. Clearbridge Investments LLC now owns 5,626,195 shares of the restaurant operator’s stock valued at $123,439,000 after purchasing an additional 3,552,591 shares during the last quarter. State Street Corp grew its holdings in Bloomin’ Brands by 2.7% during the 1st quarter. State Street Corp now owns 3,060,578 shares of the restaurant operator’s stock valued at $67,149,000 after purchasing an additional 81,736 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in Bloomin’ Brands by 3.4% during the 2nd quarter. Jennison Associates LLC now owns 2,522,578 shares of the restaurant operator’s stock valued at $41,925,000 after purchasing an additional 83,366 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts recently commented on BLMN shares. Barclays upped their price target on shares of Bloomin’ Brands from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, October 31st. TheStreet upgraded shares of Bloomin’ Brands from a “c” rating to a “b-” rating in a report on Friday, October 28th. UBS Group assumed coverage on shares of Bloomin’ Brands in a report on Friday, October 21st. They set a “neutral” rating and a $23.00 price target on the stock. Morgan Stanley upped their target price on shares of 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, BMO Capital Markets dropped their target price on shares of Bloomin’ Brands from $33.00 to $29.00 in a research note on Monday, August 1st. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $27.89.

Insider Activity at Bloomin’ Brands

In related news, Director Elizabeth A. Smith sold 261,122 shares of the stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $23.43, for a total transaction of $6,118,088.46. Following the completion of the sale, the director now owns 243,594 shares of the company’s stock, valued at $5,707,407.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Elizabeth A. Smith sold 261,122 shares of the stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $23.43, for a total transaction of $6,118,088.46. Following the completion of the sale, the director now owns 243,594 shares of the company’s stock, valued at $5,707,407.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David J. Deno sold 60,354 shares of the stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $24.39, for a total transaction 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 sold 724,508 shares of company stock valued at $17,083,646 over the last 90 days. Insiders own 4.85% of the company’s stock.

Bloomin’ Brands Price Performance

Shares of BLMN opened at $23.19 on Wednesday. The company has a 50 day moving average price of $21.32 and a 200-day moving average price of $20.25. Bloomin’ Brands, Inc. has a fifty-two week low of $15.89 and a fifty-two week high of $25.51. The stock has a market capitalization of $2.04 billion, a PE ratio of 24.67 and a beta of 1.88. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.21 and a current ratio of 0.30.

Bloomin’ Brands (NASDAQ:BLMNGet Rating) last announced its quarterly earnings results on Friday, October 28th. The restaurant operator reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. Bloomin’ Brands had a net margin of 2.39% and a return on equity of 92.10%. The firm 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 company earned $0.57 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. Equities analysts predict that Bloomin’ Brands, Inc. will post 2.46 earnings per share for the current fiscal year.

Bloomin’ Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 23rd. Investors of record on Wednesday, November 9th will be given a dividend of $0.14 per share. The ex-dividend date is Tuesday, November 8th. This represents a $0.56 dividend on an annualized basis and a yield of 2.41%. Bloomin’ Brands’s payout ratio is 59.58%.

Bloomin’ Brands Company 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.

See Also

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

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