Allspring Global Investments Holdings LLC lessened its holdings in Bloomin’ Brands, Inc. (NASDAQ:BLMN – Get Rating) by 83.1% during the 3rd quarter, Holdings Channel reports. The firm owned 29,693 shares of the restaurant operator’s stock after selling 145,959 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Bloomin’ Brands were worth $544,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the business. Janney Montgomery Scott LLC bought a new position in shares of Bloomin’ Brands in the 3rd quarter valued at about $284,000. Ziegler Capital Management LLC bought a new position in shares of Bloomin’ Brands in the 3rd quarter valued at about $709,000. Texas Permanent School Fund boosted its stake in shares of Bloomin’ Brands by 10.2% in the 3rd quarter. Texas Permanent School Fund now owns 64,222 shares of the restaurant operator’s stock valued at $1,177,000 after purchasing an additional 5,940 shares during the last quarter. Annex Advisory Services LLC boosted its stake in shares of Bloomin’ Brands by 9.9% in the 3rd quarter. Annex Advisory Services LLC now owns 99,084 shares of the restaurant operator’s stock valued at $1,816,000 after purchasing an additional 8,957 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in Bloomin’ Brands by 1.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 61,823 shares of the restaurant operator’s stock worth $1,133,000 after acquiring an additional 794 shares during the last quarter.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. Gordon Haskett lowered shares of Bloomin’ Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 17th. UBS Group assumed coverage on shares of Bloomin’ Brands in a research note on Friday, October 21st. They set a “neutral” rating and a $23.00 price objective on the stock. Morgan Stanley lifted their price objective on shares of Bloomin’ Brands from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 18th. StockNews.com assumed coverage on shares of Bloomin’ Brands in a research note on Wednesday, October 12th. They set a “buy” rating on the stock. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Bloomin’ Brands in a research note on Wednesday, November 2nd. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Bloomin’ Brands currently has an average rating of “Moderate Buy” and an average target price of $27.67.
Bloomin’ Brands Stock Performance
Shares of BLMN opened at $24.16 on Tuesday. 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, Inc. has a twelve month low of $15.89 and a twelve month high of $25.51. The firm’s 50 day moving average price is $21.96 and its two-hundred day moving average price is $21.09. The firm has a market cap of $2.12 billion, a P/E ratio of 25.70 and a beta of 1.81.
Bloomin’ Brands (NASDAQ:BLMN – Get Rating) last posted its quarterly earnings data on Friday, October 28th. The restaurant operator reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Bloomin’ Brands had a net margin of 2.39% and a return on equity of 92.10%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the company earned $0.57 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, analysts forecast that Bloomin’ Brands, Inc. will post 2.46 EPS for the current fiscal year.
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; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
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