Charles Schwab Investment Management Inc. Purchases 159,356 Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Charles Schwab Investment Management Inc. boosted its stake in Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 12.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,414,415 shares of the restaurant operator’s stock after buying an additional 159,356 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Bloomin’ Brands were worth $17,270,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BLMN. KBC Group NV grew its holdings 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 purchasing an additional 1,489 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Bloomin’ Brands by 4.4% during the third quarter. Jennison Associates LLC now owns 1,411,200 shares of the restaurant operator’s stock worth $23,327,000 after purchasing an additional 59,418 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Bloomin’ Brands by 176.0% in the third quarter. Advisors Asset Management Inc. now owns 167,495 shares of the restaurant operator’s stock worth $2,769,000 after acquiring an additional 106,804 shares during the period. Intech Investment Management LLC acquired a new position in Bloomin’ Brands in the third quarter valued at $339,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Bloomin’ Brands during the 3rd quarter worth approximately $1,064,000.

Bloomin’ Brands Price Performance

BLMN opened at $8.09 on Friday. 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’s 50 day moving average price is $10.86 and its 200-day moving average price is $13.36. The stock has a market capitalization of $687.09 million, a PE ratio of -73.54 and a beta of 2.04. Bloomin’ Brands, Inc. has a 52-week low of $7.75 and a 52-week high of $29.10.

Bloomin’ Brands Cuts Dividend

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

Insider Buying and Selling

In related news, EVP Patrick M. Hafner sold 9,555 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $8.32, for a total value of $79,497.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BLMN shares. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Barclays set a $11.00 target price on Bloomin’ Brands and gave the company an “equal weight” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. reduced their price target on Bloomin’ Brands from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday. UBS Group dropped their price objective 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. Finally, Bank of America downgraded Bloomin’ Brands from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $18.00 to $13.00 in a research report on Monday, January 27th. Two research analysts have rated the stock with a sell rating and ten have given a hold rating to the company. According to data from MarketBeat, Bloomin’ Brands currently has an average rating of “Hold” and an average target price of $14.50.

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.