Bloomin’ Brands (NASDAQ:BLMN) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Bloomin’ Brands (NASDAQ:BLMN) from a sell rating to a hold rating in a research note published on Wednesday morning.

A number of other equities analysts have also recently issued reports on BLMN. UBS Group cut their target price on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut their target price on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, November 12th. Piper Sandler cut their target price on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Barclays reiterated an “equal weight” rating and issued a $13.00 target price (down from $19.00) on shares of Bloomin’ Brands in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group began coverage on Bloomin’ Brands in a report on Thursday, December 5th. They issued a “sell” rating and a $13.00 target price on the stock. Two investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $15.00.

Bloomin’ Brands Price Performance

Shares of BLMN opened at $9.38 on Wednesday. Bloomin’ Brands has a 12-month low of $9.16 and a 12-month high of $30.13. The business’s fifty day moving average is $11.90 and its 200 day moving average is $14.28. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46. The stock has a market cap of $795.83 million, a P/E ratio of -85.26 and a beta of 1.97.

Bloomin’ Brands Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.40%. The ex-dividend date is Tuesday, March 11th. Bloomin’ Brands’s payout ratio is -40.27%.

Institutional Investors Weigh In On Bloomin’ Brands

A number of hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. raised its stake in shares of Bloomin’ Brands by 6.2% during the 3rd quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator’s stock worth $41,806,000 after purchasing an additional 147,895 shares during the period. Erste Asset Management GmbH bought a new stake in shares of Bloomin’ Brands during the 3rd quarter worth $41,325,000. Victory Capital Management Inc. raised its stake in shares of Bloomin’ Brands by 0.4% during the 4th quarter. Victory Capital Management Inc. now owns 2,390,703 shares of the restaurant operator’s stock worth $29,190,000 after purchasing an additional 10,635 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Bloomin’ Brands by 385.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,817,145 shares of the restaurant operator’s stock worth $22,187,000 after purchasing an additional 1,442,964 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Bloomin’ Brands by 565.9% during the 4th quarter. American Century Companies Inc. now owns 1,791,366 shares of the restaurant operator’s stock worth $21,873,000 after purchasing an additional 1,522,370 shares during the period.

About Bloomin’ Brands

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.