Bloomin’ Brands (NASDAQ:BLMN) Price Target Lowered to $9.00 at JPMorgan Chase & Co.

Bloomin’ Brands (NASDAQ:BLMN) had its price objective cut by JPMorgan Chase & Co. from $10.00 to $9.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

BLMN has been the subject of a number of other reports. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. UBS Group cut their price target on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Bank of America downgraded Bloomin’ Brands from a “neutral” rating to an “underperform” rating and cut their price target for the company from $18.00 to $13.00 in a research note on Monday, January 27th. BMO Capital Markets cut their price target on Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating for the company in a research note on Thursday, February 27th. Finally, Barclays set a $11.00 price objective on Bloomin’ Brands and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.50.

Bloomin’ Brands Trading Down 3.8 %

Bloomin’ Brands stock opened at $7.78 on Thursday. The business has a 50-day simple moving average of $10.79 and a two-hundred day simple moving average of $13.27. The company has a market cap of $660.76 million, a P/E ratio of -70.72 and a beta of 2.04. Bloomin’ Brands has a 52-week low of $7.72 and a 52-week high of $29.10. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46.

Bloomin’ Brands Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.60 annualized dividend and a yield of 7.71%. Bloomin’ Brands’s payout ratio is -40.27%.

Insider Activity at Bloomin’ Brands

In other Bloomin’ Brands news, EVP Patrick M. Hafner sold 9,555 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $8.32, for a total transaction of $79,497.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bloomin’ Brands

Several institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. lifted its position in Bloomin’ Brands by 6.2% during the third quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator’s stock valued at $41,806,000 after purchasing an additional 147,895 shares during the last quarter. Erste Asset Management GmbH bought a new position in Bloomin’ Brands during the third quarter valued at $41,325,000. Victory Capital Management Inc. lifted its position in Bloomin’ Brands by 0.4% during the fourth quarter. Victory Capital Management Inc. now owns 2,390,703 shares of the restaurant operator’s stock valued at $29,190,000 after purchasing an additional 10,635 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Bloomin’ Brands by 385.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,817,145 shares of the restaurant operator’s stock valued at $22,187,000 after purchasing an additional 1,442,964 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Bloomin’ Brands by 565.9% during the fourth quarter. American Century Companies Inc. now owns 1,791,366 shares of the restaurant operator’s stock valued at $21,873,000 after purchasing an additional 1,522,370 shares during the last quarter.

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.