Other equities research analysts also recently issued reports about the company. BidaskClub upgraded Bloomin' Brands from a hold rating to a buy rating in a research report on Friday, January 5th. ValuEngine raised Bloomin' Brands from a hold rating to a buy rating in a research note on Friday, February 2nd. BMO Capital Markets set a $27.00 target price on Bloomin' Brands and gave the company a buy rating in a research note on Friday, February 23rd. Zacks Investment Research raised Bloomin' Brands from a sell rating to a hold rating in a research note on Thursday, January 18th. Finally, Jefferies Group reiterated a hold rating and set a $23.00 price objective on shares of Bloomin' Brands in a report on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $22.78.
Shares of Bloomin' Brands (NASDAQ:BLMN) opened at $24.18 on Friday. The stock has a market capitalization of $2,256.41, a PE ratio of 24.67, a P/E/G ratio of 1.75 and a beta of 0.44. The company has a debt-to-equity ratio of 22.07, a quick ratio of 0.36 and a current ratio of 0.42. Bloomin' Brands has a 1-year low of $16.11 and a 1-year high of $24.64.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Investors of record on Monday, March 5th will be paid a $0.09 dividend. The ex-dividend date is Friday, March 2nd. This is a positive change from Bloomin' Brands’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 1.49%. Bloomin' Brands’s dividend payout ratio (DPR) is currently 36.73%.
Bloomin' Brands declared that its Board of Directors has authorized a share buyback plan on Thursday, February 22nd that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In other news, EVP David Peter Schmidt sold 3,500 shares of Bloomin' Brands stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $22.50, for a total transaction of $78,750.00. Following the sale, the executive vice president now owns 7,916 shares of the company’s stock, valued at approximately $178,110. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Donagh Herlihy sold 9,081 shares of Bloomin' Brands stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $20.93, for a total transaction of $190,065.33. The disclosure for this sale can be found here. Insiders sold a total of 859,205 shares of company stock worth $19,249,336 over the last ninety days. 7.47% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of BLMN. Jana Partners LLC acquired a new stake in Bloomin' Brands in the 3rd quarter valued at approximately $73,480,000. Earnest Partners LLC increased its holdings in Bloomin' Brands by 30.9% in the 4th quarter. Earnest Partners LLC now owns 5,268,819 shares of the restaurant operator’s stock valued at $112,437,000 after purchasing an additional 1,245,120 shares during the last quarter. Maverick Capital Ltd. acquired a new position in shares of Bloomin' Brands in the fourth quarter worth $14,435,000. Millennium Management LLC grew its stake in shares of Bloomin' Brands by 226.7% in the fourth quarter. Millennium Management LLC now owns 872,560 shares of the restaurant operator’s stock worth $18,620,000 after acquiring an additional 605,511 shares in the last quarter. Finally, LSV Asset Management grew its stake in shares of Bloomin' Brands by 15.9% in the fourth quarter. LSV Asset Management now owns 3,517,296 shares of the restaurant operator’s stock worth $75,059,000 after acquiring an additional 482,900 shares in the last quarter. Hedge funds and other institutional investors own 98.85% of the company’s stock.
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About Bloomin' Brands
Bloomin’ Brands, Inc is a holding company. The Company owns and operates casual, upscale casual and fine dining restaurants. The Company operates through two segments: U.S. and International. The U.S. segment includes all brands operating in the United States. The International segment includes brands operating outside the United States.
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