Bank of New York Mellon Corp Has $22.98 Million Stake in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Bank of New York Mellon Corp lowered its position in Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,195,016 shares of the restaurant operator’s stock after selling 5,008 shares during the period. Bank of New York Mellon Corp’s holdings in Bloomin’ Brands were worth $22,980,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Headlands Technologies LLC acquired a new position in Bloomin’ Brands during the 1st quarter worth about $30,000. TFO Wealth Partners LLC raised its stake in shares of Bloomin’ Brands by 284,000.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,841 shares of the restaurant operator’s stock worth $80,000 after buying an additional 2,840 shares during the last quarter. EntryPoint Capital LLC raised its stake in shares of Bloomin’ Brands by 6,454.9% during the first quarter. EntryPoint Capital LLC now owns 3,343 shares of the restaurant operator’s stock worth $96,000 after buying an additional 3,292 shares during the last quarter. AdvisorShares Investments LLC raised its stake in shares of Bloomin’ Brands by 21.9% during the fourth quarter. AdvisorShares Investments LLC now owns 5,014 shares of the restaurant operator’s stock worth $141,000 after buying an additional 900 shares during the last quarter. Finally, Assetmark Inc. raised its stake in shares of Bloomin’ Brands by 32.0% during the fourth quarter. Assetmark Inc. now owns 5,314 shares of the restaurant operator’s stock worth $150,000 after buying an additional 1,288 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BLMN shares. Morgan Stanley decreased their price objective on shares of Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. StockNews.com cut shares of Bloomin’ Brands from a “hold” rating to a “sell” rating in a report on Friday, August 9th. BMO Capital Markets reduced their price target on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. Finally, Citigroup reduced their price target on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.33.

Bloomin’ Brands Stock Performance

Shares of BLMN stock opened at $16.94 on Friday. The stock has a market cap of $1.46 billion, a P/E ratio of 26.47 and a beta of 2.04. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.35 and a quick ratio of 0.26. The company has a fifty day moving average price of $18.18 and a two-hundred day moving average price of $22.59. Bloomin’ Brands, Inc. has a one year low of $15.20 and a one year high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings results on Tuesday, August 6th. The restaurant operator reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.07). The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.13 billion. Bloomin’ Brands had a net margin of 0.70% and a return on equity of 61.90%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 EPS. As a group, equities analysts predict that Bloomin’ Brands, Inc. will post 2.08 EPS for the current year.

Bloomin’ Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 20th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.67%. The ex-dividend date of this dividend was Tuesday, August 20th. Bloomin’ Brands’s dividend payout ratio is currently 150.00%.

Bloomin’ Brands 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.