Bloomin’ Brands (NASDAQ:BLMN) Upgraded at StockNews.com

StockNews.com upgraded shares of Bloomin’ Brands (NASDAQ:BLMN) from a sell rating to a hold rating in a report released on Wednesday.

BLMN has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their target price on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, November 12th. UBS Group dropped their target price on shares of Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Bank of America cut shares of Bloomin’ Brands from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $18.00 to $13.00 in a report on Monday, January 27th. Piper Sandler dropped their target price on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Finally, The Goldman Sachs Group assumed coverage on Bloomin’ Brands in a research note on Thursday, December 5th. They issued a “sell” rating and a $13.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. According to data from MarketBeat, Bloomin’ Brands presently has an average rating of “Hold” and a consensus price target of $15.00.

Bloomin’ Brands Stock Down 6.4 %

BLMN stock opened at $9.38 on Wednesday. The stock has a market capitalization of $795.83 million, a P/E ratio of -85.26 and a beta of 1.97. The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46. Bloomin’ Brands has a 12 month low of $9.16 and a 12 month high of $30.13. The firm has a 50-day moving average price of $11.90 and a 200-day moving average price of $14.28.

Bloomin’ Brands Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date of this dividend is Tuesday, March 11th. Bloomin’ Brands’s dividend payout ratio is presently -40.27%.

Institutional Trading of Bloomin’ Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC increased its position in Bloomin’ Brands by 6.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 12,676 shares of the restaurant operator’s stock valued at $210,000 after purchasing an additional 780 shares during the period. Franklin Resources Inc. grew its position in shares of Bloomin’ Brands by 2.9% during the 3rd quarter. Franklin Resources Inc. now owns 50,007 shares of the restaurant operator’s stock worth $773,000 after buying an additional 1,392 shares during the period. KBC Group NV grew its position in shares of Bloomin’ Brands by 79.1% during the 3rd quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock worth $56,000 after buying an additional 1,489 shares during the period. Gladius Capital Management LP acquired a new stake in shares of Bloomin’ Brands during the 3rd quarter worth approximately $26,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Bloomin’ Brands during the 4th quarter worth approximately $27,000.

Bloomin’ Brands Company Profile

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.