Bloomin' Brands, Inc. (NASDAQ:BLMN - Get Free Report) Director Julie T. Kunkel purchased 1,500 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $9.94 per share, with a total value of $14,910.00. Following the completion of the acquisition, the director now directly owns 3,565 shares of the company's stock, valued at $35,436.10. This represents a 72.64 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Bloomin' Brands Stock Down 2.4 %
Shares of NASDAQ BLMN opened at $8.24 on Wednesday. The firm's 50-day moving average is $11.72 and its two-hundred day moving average is $14.08. The company has a market capitalization of $699.83 million, a PE ratio of -74.90 and a beta of 1.97. Bloomin' Brands, Inc. has a 12-month low of $8.00 and a 12-month high of $30.13. 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 Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 7.28%. The ex-dividend date is Tuesday, March 11th. Bloomin' Brands's payout ratio is currently -40.27%.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the company. BMO Capital Markets dropped their target price on Bloomin' Brands from $16.00 to $12.00 and set a "market perform" rating on the stock in a research report on Thursday, February 27th. Bank of America lowered Bloomin' Brands from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $18.00 to $13.00 in a report on Monday, January 27th. Barclays set a $11.00 target price on Bloomin' Brands and gave the company an "equal weight" rating in a report on Thursday, February 27th. Raymond James cut shares of Bloomin' Brands from an "outperform" rating to a "market perform" rating in a research note on Monday, November 11th. Finally, UBS Group reduced their price objective on shares of Bloomin' Brands from $16.00 to $13.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. Based on data from MarketBeat.com, Bloomin' Brands has a consensus rating of "Hold" and a consensus price target of $15.00.
Read Our Latest Report on BLMN
Hedge Funds Weigh In On Bloomin' Brands
Hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its position in shares of Bloomin' Brands by 34.8% in the third quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator's stock valued at $22,830,000 after acquiring an additional 356,456 shares in the last quarter. A&I Financial Services LLC purchased a new position in Bloomin' Brands in the 4th quarter valued at about $343,000. Barclays PLC boosted its stake in shares of Bloomin' Brands by 29.4% during the 3rd quarter. Barclays PLC now owns 219,080 shares of the restaurant operator's stock worth $3,621,000 after purchasing an additional 49,723 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Bloomin' Brands by 58.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 691,585 shares of the restaurant operator's stock worth $11,432,000 after buying an additional 254,570 shares in the last quarter. Finally, Skylands Capital LLC acquired a new position in shares of Bloomin' Brands in the fourth quarter valued at approximately $1,407,000.
About Bloomin' Brands
(
Get Free Report)
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.
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