Spark Investment Management LLC purchased a new stake in Bloomin’ Brands Inc (NASDAQ:BLMN) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 607,900 shares of the restaurant operator’s stock, valued at approximately $12,218,000. Bloomin’ Brands comprises 0.7% of Spark Investment Management LLC’s holdings, making the stock its 22nd biggest holding.
Several other institutional investors have also added to or reduced their stakes in BLMN. Ceredex Value Advisors LLC bought a new position in shares of Bloomin’ Brands in the first quarter valued at about $58,763,000. Millennium Management LLC raised its holdings in shares of Bloomin’ Brands by 182.2% in the first quarter. Millennium Management LLC now owns 2,462,139 shares of the restaurant operator’s stock valued at $59,781,000 after buying an additional 1,589,579 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of Bloomin’ Brands in the first quarter valued at about $16,711,000. Tyvor Capital LLC bought a new position in shares of Bloomin’ Brands in the second quarter valued at about $12,046,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Bloomin’ Brands by 57.2% in the second quarter. Canada Pension Plan Investment Board now owns 959,900 shares of the restaurant operator’s stock valued at $19,294,000 after buying an additional 349,200 shares during the last quarter. 96.23% of the stock is owned by institutional investors and hedge funds.
In other Bloomin’ Brands news, Chairman Elizabeth A. Smith sold 68,222 shares of the company’s stock in a transaction that occurred on Monday, June 25th. The stock was sold at an average price of $22.12, for a total transaction of $1,509,070.64. Following the completion of the transaction, the chairman now owns 210,174 shares of the company’s stock, valued at approximately $4,649,048.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Elizabeth A. Smith sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $22.18, for a total value of $2,218,000.00. Following the sale, the chief executive officer now owns 244,152 shares in the company, valued at approximately $5,415,291.36. The disclosure for this sale can be found here. Insiders sold a total of 686,831 shares of company stock valued at $14,667,707 over the last quarter. 7.47% of the stock is owned by insiders.
A number of research analysts recently issued reports on BLMN shares. Barclays lifted their price target on Bloomin’ Brands from $28.00 to $29.00 and gave the company a “$21.25” rating in a report on Wednesday, July 18th. BidaskClub raised Bloomin’ Brands from a “hold” rating to a “buy” rating in a report on Friday, May 4th. ValuEngine raised Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Thursday, July 12th. Wells Fargo & Co lowered their price target on Bloomin’ Brands from $22.00 to $21.00 and set a “market perform” rating for the company in a research note on Tuesday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on Bloomin’ Brands from $21.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, May 1st. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $24.00.
Shares of BLMN stock opened at $19.48 on Monday. The company has a debt-to-equity ratio of 12.18, a current ratio of 0.39 and a quick ratio of 0.32. Bloomin’ Brands Inc has a one year low of $16.11 and a one year high of $25.00. The stock has a market capitalization of $1.69 billion, a PE ratio of 14.32, a P/E/G ratio of 1.40 and a beta of 0.38.
Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings data on Monday, July 30th. The restaurant operator reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.08. Bloomin’ Brands had a return on equity of 215.75% and a net margin of 2.70%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the firm earned $0.27 EPS. Bloomin’ Brands’s quarterly revenue was down .4% compared to the same quarter last year. sell-side analysts expect that Bloomin’ Brands Inc will post 1.44 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 22nd. Investors of record on Thursday, August 9th will be given a $0.09 dividend. The ex-dividend date is Wednesday, August 8th. This represents a $0.36 annualized dividend and a dividend yield of 1.85%. Bloomin’ Brands’s dividend payout ratio is presently 26.47%.
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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
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