Federated Hermes Inc. Sells 75,396 Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Federated Hermes Inc. trimmed its position in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 85.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,413 shares of the restaurant operator’s stock after selling 75,396 shares during the period. Federated Hermes Inc.’s holdings in Bloomin’ Brands were worth $349,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake in shares of Bloomin’ Brands by 683.2% during the third quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the restaurant operator’s stock valued at $31,000 after buying an additional 1,100 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Bloomin’ Brands during the third quarter worth $32,000. Assetmark Inc. boosted its stake in shares of Bloomin’ Brands by 23.5% during the third quarter. Assetmark Inc. now owns 4,026 shares of the restaurant operator’s stock valued at $99,000 after purchasing an additional 765 shares during the period. Signaturefd LLC grew its holdings in shares of Bloomin’ Brands by 221.2% in the third quarter. Signaturefd LLC now owns 4,147 shares of the restaurant operator’s stock worth $102,000 after purchasing an additional 2,856 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Bloomin’ Brands in the 3rd quarter worth about $206,000.

Bloomin’ Brands Stock Up 2.1 %

BLMN stock opened at $25.61 on Friday. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.34 and a quick ratio of 0.27. The firm’s fifty day simple moving average is $27.66 and its 200-day simple moving average is $26.16. Bloomin’ Brands, Inc. has a 12 month low of $22.03 and a 12 month high of $30.13. The company has a market capitalization of $2.23 billion, a P/E ratio of 10.12, a price-to-earnings-growth ratio of 9.65 and a beta of 2.02.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings data on Friday, February 23rd. The restaurant operator reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. Bloomin’ Brands had a return on equity of 73.67% and a net margin of 5.30%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business posted $0.68 EPS. The company’s revenue was up 9.1% on a year-over-year basis. As a group, equities research analysts forecast that Bloomin’ Brands, Inc. will post 2.55 earnings per share for the current year.

Bloomin’ Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend was Tuesday, March 5th. Bloomin’ Brands’s dividend payout ratio is currently 37.94%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. downgraded shares of Bloomin’ Brands from an “overweight” rating to a “neutral” rating and set a $26.00 target price on the stock. in a research note on Tuesday, January 23rd. Barclays lifted their target price on Bloomin’ Brands from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, February 26th. BMO Capital Markets increased their price target on Bloomin’ Brands from $27.00 to $29.00 and gave the stock a “market perform” rating in a research report on Monday, February 26th. Finally, Citigroup lifted their price objective on Bloomin’ Brands from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $27.90.

Bloomin’ Brands Company Profile

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.