Neuberger Berman Group LLC trimmed its stake in Bloomin' Brands Inc (NASDAQ:BLMN) by 14.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,611,252 shares of the restaurant operator’s stock after selling 270,505 shares during the period. Neuberger Berman Group LLC owned approximately 1.77% of Bloomin' Brands worth $28,358,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of BLMN. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Bloomin' Brands by 10.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,144 shares of the restaurant operator’s stock worth $109,000 after buying an additional 476 shares in the last quarter. New York State Teachers Retirement System purchased a new stake in Bloomin' Brands in the third quarter worth approximately $153,000. PNC Financial Services Group Inc. boosted its stake in Bloomin' Brands by 83.2% in the second quarter. PNC Financial Services Group Inc. now owns 7,647 shares of the restaurant operator’s stock worth $162,000 after buying an additional 3,472 shares in the last quarter. Boothbay Fund Management LLC purchased a new stake in Bloomin' Brands in the third quarter worth approximately $181,000. Finally, Meeder Asset Management Inc. boosted its stake in Bloomin' Brands by 317.0% in the third quarter. Meeder Asset Management Inc. now owns 10,608 shares of the restaurant operator’s stock worth $187,000 after buying an additional 8,064 shares in the last quarter.
In related news, Chairman Elizabeth A. Smith sold 100,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $17.00, for a total value of $1,700,000.00. Following the completion of the sale, the chairman now owns 82,935 shares of the company’s stock, valued at $1,409,895. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Elizabeth A. Smith sold 375,000 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $20.79, for a total value of $7,796,250.00. Following the completion of the sale, the chairman now directly owns 206,235 shares of the company’s stock, valued at approximately $4,287,625.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 551,878 shares of company stock valued at $11,131,099. Insiders own 7.04% of the company’s stock.
Several brokerages have issued reports on BLMN. BidaskClub lowered Bloomin' Brands from a “buy” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research raised Bloomin' Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Jefferies Group reaffirmed a “hold” rating and issued a $23.00 target price on shares of Bloomin' Brands in a research note on Friday, December 22nd. Raymond James Financial lowered Bloomin' Brands from an “outperform” rating to a “market perform” rating and set a $24.00 target price for the company. in a research note on Wednesday, December 6th. Finally, Citigroup lowered Bloomin' Brands to a “market perform” rating in a research note on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.36.
Bloomin' Brands Inc (NASDAQ BLMN) traded up $0.02 during trading hours on Friday, hitting $22.35. The stock had a trading volume of 1,174,345 shares, compared to its average volume of 666,678. The stock has a market capitalization of $2,038.05, a price-to-earnings ratio of 29.03, a PEG ratio of 1.69 and a beta of 0.64. Bloomin' Brands Inc has a 52-week low of $16.11 and a 52-week high of $22.96. The company has a debt-to-equity ratio of 31.17, a quick ratio of 0.29 and a current ratio of 0.36.
Bloomin' Brands (NASDAQ:BLMN) last released its quarterly earnings data on Friday, November 3rd. The restaurant operator reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). The company had revenue of $948.90 million for the quarter, compared to analysts’ expectations of $944.30 million. Bloomin' Brands had a net margin of 1.93% and a return on equity of 94.30%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the company posted $0.19 EPS. equities research analysts forecast that Bloomin' Brands Inc will post 1.33 EPS for the current fiscal year.
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Bloomin' Brands Profile
Bloomin’ Brands, Inc is a holding company. The Company owns and operates casual, upscale casual and fine dining restaurants. The Company operates through two segments: U.S. and International. The U.S. segment includes all brands operating in the United States. The International segment includes brands operating outside the United States.
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