Wellington Management Group LLP Trims Holdings in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Wellington Management Group LLP lessened its stake in Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 17.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,053,621 shares of the restaurant operator’s stock after selling 225,028 shares during the period. Wellington Management Group LLP owned about 1.24% of Bloomin’ Brands worth $17,416,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Gladius Capital Management LP bought a new stake in shares of Bloomin’ Brands in the 3rd quarter worth about $26,000. KBC Group NV grew its stake in Bloomin’ Brands by 79.1% in 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. Point72 Asia Singapore Pte. Ltd. bought a new stake in Bloomin’ Brands in the second quarter valued at about $111,000. Point72 DIFC Ltd acquired a new stake in Bloomin’ Brands during the second quarter valued at approximately $169,000. Finally, Dark Forest Capital Management LP bought a new position in Bloomin’ Brands during the 2nd quarter worth approximately $230,000.

Bloomin’ Brands Price Performance

Shares of BLMN opened at $12.27 on Friday. Bloomin’ Brands, Inc. has a one year low of $12.18 and a one year high of $30.13. The stock’s fifty day moving average is $14.66 and its 200-day moving average is $16.94. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -111.54 and a beta of 1.95.

Bloomin’ Brands (NASDAQ:BLMN) last released its earnings results on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Bloomin’ Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. Bloomin’ Brands’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the company earned $0.44 EPS. Equities analysts anticipate that Bloomin’ Brands, Inc. will post 1.8 EPS for the current year.

Bloomin’ Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Monday, November 25th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $0.96 annualized dividend and a yield of 7.82%. Bloomin’ Brands’s payout ratio is -872.65%.

Analyst Ratings Changes

BLMN has been the subject of a number of research analyst reports. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Barclays dropped their target price on shares of Bloomin’ Brands from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Piper Sandler decreased their price target on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Citigroup dropped their price objective on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. Finally, Bank of America decreased their target price on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $19.09.

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.