Brokerages Set Bloomin’ Brands, Inc. (NASDAQ:BLMN) PT at $14.60

Bloomin’ Brands, Inc. (NASDAQ:BLMN) has received a consensus recommendation of “Reduce” from the eleven brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating and nine have issued a hold rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $14.50.

Several research firms recently weighed in on BLMN. BMO Capital Markets cut their price objective on Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group cut their price objective on Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating for the company in a research report on Thursday, February 27th. UBS Group cut their price objective on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut their price objective on Bloomin’ Brands from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Barclays set a $11.00 price target on Bloomin’ Brands and gave the company an “equal weight” rating in a report on Thursday, February 27th.

Bloomin’ Brands Price Performance

NASDAQ BLMN opened at $8.09 on Tuesday. Bloomin’ Brands has a twelve month low of $7.75 and a twelve month high of $29.10. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31. The stock has a market capitalization of $687.09 million, a PE ratio of -73.54 and a beta of 2.04. The stock has a 50-day simple moving average of $10.86 and a 200 day simple moving average of $13.36.

Bloomin’ Brands Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.60 annualized dividend and a dividend yield of 7.42%. Bloomin’ Brands’s dividend payout ratio is currently -40.27%.

Insider Activity

In other news, EVP Patrick M. Hafner sold 9,555 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $8.32, for a total value of $79,497.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Bloomin’ Brands

A number of large investors have recently bought and sold shares of BLMN. Erste Asset Management GmbH bought a new stake in Bloomin’ Brands during the 3rd quarter worth approximately $41,325,000. Schonfeld Strategic Advisors LLC grew its position in Bloomin’ Brands by 8,666.6% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,568,253 shares of the restaurant operator’s stock worth $19,148,000 after acquiring an additional 1,550,364 shares during the last quarter. American Century Companies Inc. grew its position in Bloomin’ Brands by 565.9% during the 4th quarter. American Century Companies Inc. now owns 1,791,366 shares of the restaurant operator’s stock worth $21,873,000 after acquiring an additional 1,522,370 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Bloomin’ Brands by 385.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,817,145 shares of the restaurant operator’s stock worth $22,187,000 after acquiring an additional 1,442,964 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Bloomin’ Brands by 483.0% during the 4th quarter. Marshall Wace LLP now owns 1,225,608 shares of the restaurant operator’s stock worth $14,965,000 after acquiring an additional 1,015,372 shares during the last quarter.

About Bloomin’ Brands

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.