Royce & Associates LP Has $8.41 Million Position in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Royce & Associates LP increased its position in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 17.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 508,688 shares of the restaurant operator’s stock after purchasing an additional 74,079 shares during the period. Royce & Associates LP owned approximately 0.60% of Bloomin’ Brands worth $8,409,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in BLMN. Deprince Race & Zollo Inc. acquired a new stake in Bloomin’ Brands during the 2nd quarter worth approximately $28,672,000. Victory Capital Management Inc. lifted its holdings in Bloomin’ Brands by 29.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,492,119 shares of the restaurant operator’s stock worth $47,923,000 after purchasing an additional 569,855 shares during the last quarter. Millennium Management LLC lifted its holdings in Bloomin’ Brands by 2,520.7% during the 2nd quarter. Millennium Management LLC now owns 468,507 shares of the restaurant operator’s stock worth $9,009,000 after purchasing an additional 450,630 shares during the last quarter. Systematic Financial Management LP increased its stake in Bloomin’ Brands by 76.5% during the 2nd quarter. Systematic Financial Management LP now owns 544,742 shares of the restaurant operator’s stock worth $10,475,000 after acquiring an additional 236,037 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Bloomin’ Brands by 6.2% during the 3rd quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator’s stock worth $41,806,000 after acquiring an additional 147,895 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BLMN shares. BMO Capital Markets lowered their price objective on Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Bank of America lowered their price objective on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Raymond James lowered Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. lowered their price objective on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 12th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Bloomin’ Brands has a consensus rating of “Hold” and an average price target of $19.70.

Bloomin’ Brands Trading Down 1.7 %

Shares of BLMN opened at $13.20 on Monday. Bloomin’ Brands, Inc. has a 52-week low of $13.07 and a 52-week high of $30.13. The business’s fifty day moving average is $16.05 and its 200-day moving average is $18.36. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.26 and a current ratio of 0.31. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -120.00 and a beta of 2.04.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings data on Friday, November 8th. The restaurant operator reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. Bloomin’ Brands’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. Equities analysts anticipate that Bloomin’ Brands, Inc. will post 1.8 EPS for the current fiscal year.

Bloomin’ Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 25th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $0.96 dividend on an annualized basis and a yield of 7.27%. Bloomin’ Brands’s dividend payout ratio is currently -872.73%.

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.