BNP Paribas Financial Markets Sells 2,698 Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN)

BNP Paribas Financial Markets lowered its position in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 8.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 27,623 shares of the restaurant operator’s stock after selling 2,698 shares during the quarter. BNP Paribas Financial Markets’ holdings in Bloomin’ Brands were worth $457,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BLMN. Deprince Race & Zollo Inc. purchased a new stake in shares of Bloomin’ Brands during the second quarter valued at approximately $28,672,000. Victory Capital Management Inc. grew its stake in Bloomin’ Brands by 29.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,492,119 shares of the restaurant operator’s stock valued at $47,923,000 after purchasing an additional 569,855 shares during the period. Millennium Management LLC increased its position in shares of Bloomin’ Brands by 2,520.7% during the 2nd quarter. Millennium Management LLC now owns 468,507 shares of the restaurant operator’s stock valued at $9,009,000 after purchasing an additional 450,630 shares during the last quarter. FMR LLC raised its stake in shares of Bloomin’ Brands by 34.8% during the 3rd quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock worth $22,830,000 after purchasing an additional 356,456 shares during the period. Finally, Systematic Financial Management LP boosted its holdings in shares of Bloomin’ Brands by 76.5% in the 2nd quarter. Systematic Financial Management LP now owns 544,742 shares of the restaurant operator’s stock worth $10,475,000 after buying an additional 236,037 shares during the last quarter.

Bloomin’ Brands Price Performance

Bloomin’ Brands stock opened at $12.27 on Friday. 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, Inc. has a one year low of $12.18 and a one year high of $30.13. The firm has a market capitalization of $1.04 billion, a P/E ratio of -111.54 and a beta of 1.95. The business has a fifty day moving average price of $14.66 and a 200-day moving average price of $16.97.

Bloomin’ Brands (NASDAQ:BLMN) last issued its earnings results on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the company earned $0.44 EPS. The firm’s revenue was down 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that Bloomin’ Brands, Inc. will post 1.8 EPS for the current year.

Bloomin’ Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Monday, November 25th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 7.82%. The ex-dividend date was Monday, November 25th. Bloomin’ Brands’s dividend payout ratio (DPR) is presently -872.65%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BLMN. The Goldman Sachs Group initiated coverage on shares of Bloomin’ Brands in a report on Thursday, December 5th. They set a “sell” rating and a $13.00 price objective for the company. Raymond James cut shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. decreased their target price on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, November 12th. Finally, Piper Sandler dropped their price target on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.09.

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.