Miller Value Partners LLC Acquires Shares of 2,585,909 Bloomin’ Brands, Inc. $BLMN

Miller Value Partners LLC bought a new position in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,585,909 shares of the restaurant operator’s stock, valued at approximately $23,635,000. Bloomin’ Brands comprises approximately 5.6% of Miller Value Partners LLC’s holdings, making the stock its 4th biggest holding. Miller Value Partners LLC owned about 3.02% of Bloomin’ Brands as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Bloomin’ Brands during the second quarter worth $62,563,000. Arrowstreet Capital Limited Partnership raised its stake in Bloomin’ Brands by 79.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,908,998 shares of the restaurant operator’s stock worth $21,109,000 after purchasing an additional 1,736,001 shares in the last quarter. State Street Corp boosted its holdings in Bloomin’ Brands by 1.8% in the 4th quarter. State Street Corp now owns 3,400,106 shares of the restaurant operator’s stock valued at $20,979,000 after purchasing an additional 58,722 shares during the period. Millennium Management LLC grew its position in shares of Bloomin’ Brands by 69.9% during the 3rd quarter. Millennium Management LLC now owns 2,590,098 shares of the restaurant operator’s stock worth $18,571,000 after purchasing an additional 1,065,842 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Bloomin’ Brands by 12.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,409,123 shares of the restaurant operator’s stock worth $14,864,000 after purchasing an additional 269,746 shares during the period.

Analyst Ratings Changes

A number of research firms have recently commented on BLMN. BMO Capital Markets reissued a “market perform” rating and set a $12.00 price target on shares of Bloomin’ Brands in a report on Thursday, August 6th. Zacks Research raised Bloomin’ Brands from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Bloomin’ Brands from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Barclays upped their price objective on shares of Bloomin’ Brands from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $11.00 target price on shares of Bloomin’ Brands in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Bloomin’ Brands currently has an average rating of “Hold” and an average target price of $9.75.

Bloomin’ Brands Price Performance

Shares of NASDAQ:BLMN opened at $11.04 on Wednesday. Bloomin’ Brands, Inc. has a twelve month low of $5.19 and a twelve month high of $12.63. The stock’s 50 day moving average is $9.23 and its 200-day moving average is $7.57. The company has a quick ratio of 0.18, a current ratio of 0.25 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $945.24 million, a price-to-earnings ratio of 35.61, a PEG ratio of 2.95 and a beta of 1.22.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings results on Wednesday, August 5th. The restaurant operator reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.10. Bloomin’ Brands had a net margin of 0.70% and a return on equity of 28.95%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the firm posted $0.32 EPS. Bloomin’ Brands’s revenue was up 1.3% compared to the same quarter last year. Bloomin’ Brands has set its FY 2026 guidance at 0.900-1.000 EPS and its Q3 2026 guidance at -0.270–0.220 EPS. Sell-side analysts forecast that Bloomin’ Brands, Inc. will post 0.98 EPS for the current fiscal year.

Bloomin’ Brands Company Profile

Bloomin’ Brands, Inc engages in the ownership, operation and franchising of casual dining restaurants worldwide. The company’s portfolio includes five full-service restaurant chains: Outback Steakhouse, known for its Australian-inspired steakhouse concept; Carrabba’s Italian Grill, offering Italian-American cuisine; Bonefish Grill, specializing in handcrafted seafood dishes; Fleming’s Prime Steakhouse & Wine Bar, focusing on premium steak and wine experiences; and Aussie Grill by Outback, featuring a streamlined menu of signature items.