Systematic Financial Management LP boosted its stake in shares of Bloomin’ Brands Inc (NASDAQ:BLMN) by 26.2% in the first quarter, HoldingsChannel.com reports. The fund owned 413,067 shares of the restaurant operator’s stock after purchasing an additional 85,830 shares during the period. Systematic Financial Management LP’s holdings in Bloomin’ Brands were worth $8,447,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Advisor Group Inc. raised its position in Bloomin’ Brands by 72.0% during the fourth quarter. Advisor Group Inc. now owns 3,233 shares of the restaurant operator’s stock worth $57,000 after acquiring an additional 1,353 shares during the period. PNC Financial Services Group Inc. purchased a new stake in shares of Bloomin’ Brands during the fourth quarter worth $60,000. Pearl River Capital LLC grew its holdings in shares of Bloomin’ Brands by 1,085.2% during the first quarter. Pearl River Capital LLC now owns 6,578 shares of the restaurant operator’s stock worth $134,000 after buying an additional 6,023 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Bloomin’ Brands by 211.1% during the fourth quarter. Meeder Asset Management Inc. now owns 8,677 shares of the restaurant operator’s stock worth $156,000 after buying an additional 5,888 shares in the last quarter. Finally, Investors Research Corp purchased a new stake in shares of Bloomin’ Brands during the first quarter worth $183,000. Institutional investors own 95.76% of the company’s stock.
In other Bloomin’ Brands news, Chairman Elizabeth A. Smith sold 65,486 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $20.00, for a total value of $1,309,720.00. Following the transaction, the chairman now owns 411,733 shares of the company’s stock, valued at $8,234,660. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Elizabeth A. Smith sold 116,318 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $19.99, for a total transaction of $2,325,196.82. Following the completion of the transaction, the insider now directly owns 411,733 shares in the company, valued at approximately $8,230,542.67. The disclosure for this sale can be found here. Corporate insiders own 4.39% of the company’s stock.
Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings data on Friday, April 26th. The restaurant operator reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.02. Bloomin’ Brands had a net margin of 2.56% and a return on equity of 124.00%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Bloomin’ Brands’s quarterly revenue was up 1.0% on a year-over-year basis. Equities research analysts predict that Bloomin’ Brands Inc will post 1.58 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 13th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Friday, May 10th. Bloomin’ Brands’s dividend payout ratio is currently 26.67%.
BLMN has been the subject of a number of research reports. TheStreet raised shares of Bloomin’ Brands from a “c+” rating to a “b” rating in a report on Friday, February 15th. Zacks Investment Research raised shares of Bloomin’ Brands from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Tuesday, March 12th. Tigress Financial reaffirmed a “buy” rating on shares of Bloomin’ Brands in a report on Thursday, April 18th. BidaskClub raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Friday, March 29th. Finally, ValuEngine raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Bloomin’ Brands has a consensus rating of “Hold” and a consensus target price of $21.67.
Bloomin’ Brands Company 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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
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