Bloomin’ Brands Inc (BLMN) Director Sells $167,680.00 in Stock

Bloomin’ Brands Inc (NASDAQ:BLMN) Director Mindy F. Grossman sold 8,000 shares of Bloomin’ Brands stock in a transaction on Monday, November 5th. The shares were sold at an average price of $20.96, for a total value of $167,680.00. Following the transaction, the director now owns 9,790 shares in the company, valued at $205,198.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Shares of NASDAQ BLMN opened at $21.88 on Thursday. The company has a debt-to-equity ratio of 18.69, a quick ratio of 0.32 and a current ratio of 0.37. The firm has a market capitalization of $1.98 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.56 and a beta of 0.24. Bloomin’ Brands Inc has a 52-week low of $16.30 and a 52-week high of $25.00.

Bloomin’ Brands (NASDAQ:BLMN) last issued its earnings results on Monday, October 29th. The restaurant operator reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.01. The business had revenue of $965.00 million for the quarter, compared to analysts’ expectations of $965.17 million. Bloomin’ Brands had a return on equity of 196.28% and a net margin of 2.68%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 EPS. As a group, research analysts expect that Bloomin’ Brands Inc will post 1.46 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, November 14th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Tuesday, November 13th. Bloomin’ Brands’s payout ratio is 26.47%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Davidson Kempner Capital Management LP purchased a new position in shares of Bloomin’ Brands during the second quarter valued at $13,065,000. Schwab Charles Investment Management Inc. grew its holdings in shares of Bloomin’ Brands by 40.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,087,086 shares of the restaurant operator’s stock valued at $21,851,000 after buying an additional 312,480 shares in the last quarter. Skylands Capital LLC grew its holdings in shares of Bloomin’ Brands by 22.2% during the third quarter. Skylands Capital LLC now owns 202,800 shares of the restaurant operator’s stock valued at $4,013,000 after buying an additional 36,900 shares in the last quarter. Chicago Equity Partners LLC grew its holdings in shares of Bloomin’ Brands by 8.4% during the second quarter. Chicago Equity Partners LLC now owns 96,165 shares of the restaurant operator’s stock valued at $1,933,000 after buying an additional 7,490 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Bloomin’ Brands by 48.3% during the first quarter. Royal Bank of Canada now owns 8,274 shares of the restaurant operator’s stock valued at $201,000 after buying an additional 2,693 shares in the last quarter. Institutional investors and hedge funds own 96.75% of the company’s stock.

Several brokerages have recently issued reports on BLMN. BidaskClub upgraded Bloomin’ Brands from a “hold” rating to a “buy” rating in a research report on Tuesday. ValuEngine upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Thursday, July 12th. Barclays lifted their price target on Bloomin’ Brands from $28.00 to $29.00 and gave the company a “$21.25” rating in a research report on Wednesday, July 18th. Raymond James upgraded Bloomin’ Brands from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a report on Tuesday, July 17th. Finally, TheStreet cut Bloomin’ Brands from a “b-” rating to a “c+” rating in a report on Monday, October 29th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Bloomin’ Brands has an average rating of “Hold” and an average target price of $23.22.

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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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