Intech Investment Management LLC Purchases Shares of 20,531 Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Intech Investment Management LLC purchased a new stake in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 20,531 shares of the restaurant operator’s stock, valued at approximately $339,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. SummerHaven Investment Management LLC lifted its position in Bloomin’ Brands by 2.6% during the second quarter. SummerHaven Investment Management LLC now owns 27,857 shares of the restaurant operator’s stock valued at $536,000 after buying an additional 718 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in shares of Bloomin’ Brands by 6.6% during the third quarter. Verdence Capital Advisors LLC now owns 12,676 shares of the restaurant operator’s stock worth $210,000 after purchasing an additional 780 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Bloomin’ Brands by 8.7% during the second quarter. Hsbc Holdings PLC now owns 13,567 shares of the restaurant operator’s stock worth $258,000 after purchasing an additional 1,083 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Bloomin’ Brands by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,204 shares of the restaurant operator’s stock worth $331,000 after purchasing an additional 1,354 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Bloomin’ Brands by 79.1% during the third quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock worth $56,000 after purchasing an additional 1,489 shares in the last quarter.

Wall Street Analyst Weigh In

BLMN has been the topic of a number of recent research reports. StockNews.com raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. reduced their target price on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 12th. Raymond James lowered shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. Bank of America dropped their price target on shares of Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Finally, Citigroup dropped their price target on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.70.

Bloomin’ Brands Stock Down 2.6 %

BLMN stock opened at $13.00 on Wednesday. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22. Bloomin’ Brands, Inc. has a 1-year low of $12.26 and a 1-year high of $30.13. The firm has a fifty day moving average price of $15.26 and a two-hundred day moving average price of $17.41. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -118.17 and a beta of 1.95.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. Bloomin’ Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. Research analysts predict that Bloomin’ Brands, Inc. will post 1.8 EPS for the current year.

Bloomin’ Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 7.38%. The ex-dividend date is Monday, November 25th. Bloomin’ Brands’s dividend payout ratio (DPR) is -872.65%.

Bloomin’ Brands 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.