Quantum Private Wealth LLC Buys 3,110 Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Quantum Private Wealth LLC grew its stake in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 29.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,610 shares of the restaurant operator’s stock after buying an additional 3,110 shares during the period. Quantum Private Wealth LLC’s holdings in Bloomin’ Brands were worth $383,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLMN. Vanguard Group Inc. lifted its holdings in shares of Bloomin’ Brands by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 12,527,385 shares of the restaurant operator’s stock valued at $308,048,000 after purchasing an additional 175,493 shares in the last quarter. Jump Financial LLC acquired a new stake in Bloomin’ Brands in the 3rd quarter valued at approximately $759,000. 13D Management LLC acquired a new stake in Bloomin’ Brands in the 3rd quarter valued at approximately $2,537,000. FMR LLC raised its position in Bloomin’ Brands by 364.4% in the 3rd quarter. FMR LLC now owns 494,338 shares of the restaurant operator’s stock valued at $12,156,000 after buying an additional 387,896 shares during the last quarter. Finally, Annex Advisory Services LLC raised its position in Bloomin’ Brands by 53.4% in the 3rd quarter. Annex Advisory Services LLC now owns 291,389 shares of the restaurant operator’s stock valued at $7,165,000 after buying an additional 101,393 shares during the last quarter.

Wall Street Analysts Forecast Growth

BLMN has been the topic of a number of recent research reports. Citigroup lifted their target price on Bloomin’ Brands from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Raymond James lifted their target price on Bloomin’ Brands from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. Barclays lifted their target price on Bloomin’ Brands from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, February 26th. BMO Capital Markets boosted their price target on Bloomin’ Brands from $27.00 to $29.00 and gave the stock a “market perform” rating in a research report on Monday, February 26th. Finally, JPMorgan Chase & Co. lowered Bloomin’ Brands from an “overweight” rating to a “neutral” rating and set a $26.00 price target on the stock. in a research report on Tuesday, January 23rd. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Bloomin’ Brands currently has a consensus rating of “Hold” and a consensus price target of $27.90.

Bloomin’ Brands Stock Performance

BLMN traded down $0.16 during trading on Wednesday, hitting $26.86. The stock had a trading volume of 303,985 shares, compared to its average volume of 1,286,630. The company has a 50 day moving average price of $27.73 and a 200-day moving average price of $25.89. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 10.68 and a beta of 2.00. Bloomin’ Brands, Inc. has a one year low of $22.03 and a one year high of $30.13. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.34 and a quick ratio of 0.27.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings results on Friday, February 23rd. The restaurant operator reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.06. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.20 billion. Bloomin’ Brands had a return on equity of 73.67% and a net margin of 5.30%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 EPS. As a group, research analysts predict that Bloomin’ Brands, Inc. will post 2.55 EPS for the current year.

Bloomin’ Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.24 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.57%. Bloomin’ Brands’s payout ratio is 37.94%.

About Bloomin’ Brands

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.