Bloomin’ Brands (NASDAQ:BLMN) Price Target Lowered to $10.00 at JPMorgan Chase & Co.

Bloomin’ Brands (NASDAQ:BLMN) had its price objective reduced by JPMorgan Chase & Co. from $13.00 to $10.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

Other analysts have also recently issued reports about the company. StockNews.com raised Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Friday. Piper Sandler dropped their target price on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Barclays set a $11.00 price target on shares of Bloomin’ Brands and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Raymond James cut shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. Finally, Bank of America downgraded shares of Bloomin’ Brands from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $18.00 to $13.00 in a report on Monday, January 27th. Two research analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $14.60.

Bloomin’ Brands Stock Up 6.4 %

Bloomin’ Brands stock opened at $9.35 on Monday. Bloomin’ Brands has a twelve month low of $8.00 and a twelve month high of $29.59. The stock has a market cap of $794.10 million, a P/E ratio of -84.99 and a beta of 2.04. The company’s 50-day moving average price is $11.46 and its two-hundred day moving average price is $13.82. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46.

Bloomin’ Brands Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 6.42%. The ex-dividend date of this dividend is Tuesday, March 11th. Bloomin’ Brands’s payout ratio is presently -40.27%.

Insider Buying and Selling at Bloomin’ Brands

In related news, EVP Patrick M. Hafner sold 9,555 shares of Bloomin’ Brands stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $8.32, for a total transaction of $79,497.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.14% of the company’s stock.

Institutional Trading of Bloomin’ Brands

Hedge funds have recently added to or reduced their stakes in the stock. Gladius Capital Management LP bought a new stake in Bloomin’ Brands during the 3rd quarter worth $26,000. Headlands Technologies LLC acquired a new stake in Bloomin’ Brands in the fourth quarter valued at $27,000. Public Employees Retirement System of Ohio acquired a new position in Bloomin’ Brands during the 4th quarter worth about $32,000. Meeder Asset Management Inc. bought a new stake in shares of Bloomin’ Brands in the 4th quarter valued at about $41,000. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Bloomin’ Brands in the 4th quarter valued at about $45,000.

Bloomin’ Brands Company Profile

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.