Rhumbline Advisers Buys 2,127 Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Rhumbline Advisers grew its stake in Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 256,123 shares of the restaurant operator’s stock after purchasing an additional 2,127 shares during the quarter. Rhumbline Advisers owned about 0.30% of Bloomin’ Brands worth $4,925,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Capstone Investment Advisors LLC bought a new position in Bloomin’ Brands in the 1st quarter worth $2,042,000. Annex Advisory Services LLC increased its stake in shares of Bloomin’ Brands by 27.7% in the 1st quarter. Annex Advisory Services LLC now owns 295,261 shares of the restaurant operator’s stock worth $8,468,000 after acquiring an additional 64,006 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Bloomin’ Brands by 219.2% in the 2nd quarter. SG Americas Securities LLC now owns 165,705 shares of the restaurant operator’s stock worth $3,187,000 after acquiring an additional 113,798 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Bloomin’ Brands by 4.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,509,269 shares of the restaurant operator’s stock worth $70,637,000 after acquiring an additional 104,368 shares in the last quarter. Finally, Lighthouse Investment Partners LLC bought a new position in shares of Bloomin’ Brands in the 4th quarter worth about $4,222,000.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. BMO Capital Markets cut their price objective on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price target on shares of Bloomin’ Brands from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, May 28th. Citigroup dropped their price target on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Bloomin’ Brands from $26.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Finally, Morgan Stanley lowered their price objective on shares of Bloomin’ Brands from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.33.

Bloomin’ Brands Price Performance

NASDAQ BLMN opened at $16.74 on Monday. Bloomin’ Brands, Inc. has a 12 month low of $15.20 and a 12 month high of $30.13. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 26.16 and a beta of 2.05. The company’s 50 day moving average is $17.82 and its two-hundred day moving average is $22.03. The company has a current ratio of 0.35, a quick ratio of 0.26 and a debt-to-equity ratio of 3.46.

Bloomin’ Brands (NASDAQ:BLMN) last released its 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). Bloomin’ Brands had a return on equity of 61.90% and a net margin of 0.70%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the business posted $0.74 EPS. Bloomin’ Brands’s revenue was down 2.9% on a year-over-year basis. As a group, research analysts anticipate that Bloomin’ Brands, Inc. will post 2.08 earnings per share for the current year.

Bloomin’ Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 5.73%. The ex-dividend date was Tuesday, August 20th. Bloomin’ Brands’s payout ratio is 150.00%.

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; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.