Bank of New York Mellon Corp Has $35.30 Million Holdings in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Bank of New York Mellon Corp decreased its position in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN – Get Rating) by 4.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,925,834 shares of the restaurant operator’s stock after selling 85,483 shares during the period. Bank of New York Mellon Corp’s holdings in Bloomin’ Brands were worth $35,301,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Advisor Group Holdings Inc. increased its holdings in Bloomin’ Brands by 6.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 9,030 shares of the restaurant operator’s stock valued at $198,000 after purchasing an additional 525 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Bloomin’ Brands by 10.5% during the first quarter. PNC Financial Services Group Inc. now owns 7,339 shares of the restaurant operator’s stock worth $160,000 after purchasing an additional 700 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Bloomin’ Brands by 32.2% in the first quarter. Bank of Montreal Can now owns 46,261 shares of the restaurant operator’s stock valued at $1,011,000 after buying an additional 11,273 shares in the last quarter. MetLife Investment Management LLC lifted its position in Bloomin’ Brands by 51.1% during the 1st quarter. MetLife Investment Management LLC now owns 48,735 shares of the restaurant operator’s stock worth $1,069,000 after buying an additional 16,472 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in Bloomin’ Brands by 3.5% during the 1st quarter. Rhumbline Advisers now owns 221,589 shares of the restaurant operator’s stock worth $4,862,000 after acquiring an additional 7,561 shares during the last quarter.

Insider Activity

In related news, Director Elizabeth A. Smith sold 64,295 shares of the firm’s stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $27.89, for a total transaction of $1,793,187.55. Following the sale, the director now directly owns 243,594 shares in the company, valued at $6,793,836.66. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Bloomin’ Brands from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 21st. Raymond James lifted their target price on Bloomin’ Brands from $30.00 to $33.00 and gave the company a “strong-buy” rating in a research note on Friday, February 17th. Citigroup boosted their target price on Bloomin’ Brands from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, February 17th. Credit Suisse Group lifted their price objective on Bloomin’ Brands from $27.00 to $31.00 and gave the stock an “outperform” rating in a research report on Friday, February 17th. Finally, Bank of America assumed coverage on shares of Bloomin’ Brands in a research note on Wednesday, January 25th. They issued a “neutral” rating and a $27.00 target price on the stock. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.55.

Bloomin’ Brands Trading Down 2.8 %

Shares of NASDAQ BLMN opened at $24.27 on Tuesday. The company has a quick ratio of 0.27, a current ratio of 0.35 and a debt-to-equity ratio of 3.04. Bloomin’ Brands, Inc. has a twelve month low of $15.89 and a twelve month high of $28.46. The company’s fifty day moving average is $24.72 and its 200-day moving average is $22.42. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 25.28, a P/E/G ratio of 0.70 and a beta of 1.87.

Bloomin’ Brands (NASDAQ:BLMN – Get Rating) last posted its earnings results on Thursday, February 16th. The restaurant operator reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.05. Bloomin’ Brands had a return on equity of 89.75% and a net margin of 2.31%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities research analysts predict that Bloomin’ Brands, Inc. will post 2.9 EPS for the current year.

Bloomin’ Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be issued a dividend of $0.24 per share. This is an increase from Bloomin’ Brands’s previous quarterly dividend of $0.14. This represents a $0.96 annualized dividend and a yield of 3.96%. The ex-dividend date is Tuesday, February 28th. Bloomin’ Brands’s dividend payout ratio (DPR) is 100.00%.

About Bloomin’ Brands

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Bloomin’ Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.