BNP Paribas Financial Markets Sells 2,698 Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN)

BNP Paribas Financial Markets reduced its stake in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 8.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,623 shares of the restaurant operator’s stock after selling 2,698 shares during the period. BNP Paribas Financial Markets’ holdings in Bloomin’ Brands were worth $457,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its position in shares of Bloomin’ Brands by 34.8% during the third quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock worth $22,830,000 after acquiring an additional 356,456 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Bloomin’ Brands by 29.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,492,119 shares of the restaurant operator’s stock worth $47,923,000 after purchasing an additional 569,855 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Bloomin’ Brands in the 2nd quarter worth approximately $563,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Bloomin’ Brands by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,255,059 shares of the restaurant operator’s stock valued at $20,746,000 after purchasing an additional 70,925 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of Bloomin’ Brands during the second quarter worth $711,000.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BLMN shares. Raymond James lowered shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. JPMorgan Chase & Co. cut their target price on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 12th. Piper Sandler lowered their target price on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Bank of America dropped their price target on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Finally, StockNews.com raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.09.

Bloomin’ Brands Stock Performance

NASDAQ BLMN opened at $12.27 on Friday. The company has a market cap of $1.04 billion, a P/E ratio of -111.54 and a beta of 1.95. The company has a fifty day simple moving average of $14.66 and a 200 day simple moving average of $16.97. The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46. Bloomin’ Brands, Inc. has a 12-month low of $12.18 and a 12-month high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings data on Friday, November 8th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Bloomin’ Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the company earned $0.44 earnings per share. The business’s revenue was down 5.1% on a year-over-year basis. Sell-side analysts predict that Bloomin’ Brands, Inc. will post 1.8 earnings per share for the current fiscal year.

Bloomin’ Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 25th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 7.82%. Bloomin’ Brands’s dividend payout ratio is presently -872.65%.

Bloomin’ Brands Profile

Bloomin' Brands, Inc, through its subsidiaries, owns and operates casual, upscale casual, and fine dining restaurants in the United States and internationally. The company operates through two segments, U.S. and International. Its restaurant portfolio has four concepts, including Outback Steakhouse, a casual steakhouse restaurant; Carrabba's Italian Grill, a casual Italian restaurant; Bonefish Grill; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.