Russell Investments Group Ltd. reduced its holdings in shares of Bloomin’ Brands Inc (NASDAQ:BLMN) by 65.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 257,528 shares of the restaurant operator’s stock after selling 495,903 shares during the period. Russell Investments Group Ltd.’s holdings in Bloomin’ Brands were worth $5,101,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. grew its position in Bloomin’ Brands by 8.0% during the second quarter. BlackRock Inc. now owns 7,189,407 shares of the restaurant operator’s stock valued at $144,507,000 after acquiring an additional 532,417 shares during the last quarter. Glenmede Trust Co. NA grew its position in Bloomin’ Brands by 7.9% during the second quarter. Glenmede Trust Co. NA now owns 2,625,827 shares of the restaurant operator’s stock valued at $52,779,000 after acquiring an additional 192,494 shares during the last quarter. Bank of America Corp DE grew its position in Bloomin’ Brands by 29.5% during the second quarter. Bank of America Corp DE now owns 1,609,633 shares of the restaurant operator’s stock valued at $32,354,000 after acquiring an additional 366,800 shares during the last quarter. Rothschild Asset Management Inc. grew its position in Bloomin’ Brands by 0.8% during the second quarter. Rothschild Asset Management Inc. now owns 1,454,071 shares of the restaurant operator’s stock valued at $29,227,000 after acquiring an additional 11,534 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in 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 acquiring an additional 312,480 shares during the last quarter. Institutional investors and hedge funds own 97.55% of the company’s stock.
In related news, Director Mindy F. Grossman sold 8,000 shares of the firm’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $20.96, for a total value of $167,680.00. Following the completion of the sale, the director now owns 9,790 shares of the company’s stock, valued at $205,198.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donagh Herlihy sold 7,581 shares of the firm’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $20.00, for a total value of $151,620.00. The disclosure for this sale can be found here. Company insiders own 7.47% of the company’s stock.
NASDAQ:BLMN opened at $20.33 on Friday. The company has a market cap of $1.87 billion, a PE ratio of 12.71, a P/E/G ratio of 1.48 and a beta of 0.24. Bloomin’ Brands Inc has a fifty-two week low of $17.97 and a fifty-two week high of $25.00. The company has a quick ratio of 0.29, a current ratio of 0.37 and a debt-to-equity ratio of 18.69.
Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings data on Monday, October 29th. The restaurant operator reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $965.00 million during the quarter, compared to analyst estimates of $965.17 million. Bloomin’ Brands had a return on equity of 196.28% and a net margin of 2.68%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 earnings per share. Sell-side analysts anticipate that Bloomin’ Brands Inc will post 1.46 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 14th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Tuesday, November 13th. Bloomin’ Brands’s dividend payout ratio (DPR) is presently 26.47%.
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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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