Infrastructure Capital Advisors LLC Cuts Stock Holdings in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Infrastructure Capital Advisors LLC trimmed its position in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,336 shares of the restaurant operator’s stock after selling 2,130 shares during the quarter. Infrastructure Capital Advisors LLC’s holdings in Bloomin’ Brands were worth $1,113,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC grew its stake in Bloomin’ Brands by 2.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 27,857 shares of the restaurant operator’s stock valued at $536,000 after acquiring an additional 718 shares during the period. Verdence Capital Advisors LLC boosted its stake in Bloomin’ Brands by 6.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 12,676 shares of the restaurant operator’s stock worth $210,000 after purchasing an additional 780 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Bloomin’ Brands by 8.7% during the 2nd quarter. Hsbc Holdings PLC now owns 13,567 shares of the restaurant operator’s stock worth $258,000 after purchasing an additional 1,083 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Bloomin’ Brands by 8.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,204 shares of the restaurant operator’s stock worth $331,000 after purchasing an additional 1,354 shares during the last quarter. Finally, KBC Group NV boosted its stake in Bloomin’ Brands by 79.1% during the 3rd quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock worth $56,000 after purchasing an additional 1,489 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BLMN. Barclays lowered their target price on shares of Bloomin’ Brands from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Raymond James cut shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, November 11th. Citigroup lowered their price target on shares of Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. BMO Capital Markets reduced their price objective on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. Finally, Bank of America cut their price target on shares of Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $19.70.

Bloomin’ Brands Stock Performance

Shares of BLMN opened at $14.25 on Friday. The stock has a 50 day moving average price of $15.45 and a 200 day moving average price of $17.72. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -129.53 and a beta of 2.04. Bloomin’ Brands, Inc. has a 52-week low of $12.26 and a 52-week high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings results 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. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Bloomin’ Brands had a positive return on equity of 62.18% and a negative net margin of 0.12%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 earnings per share. Research analysts predict that Bloomin’ Brands, Inc. will post 1.8 EPS for the current fiscal year.

Bloomin’ Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 25th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 6.74%. The ex-dividend date of this dividend is Monday, November 25th. Bloomin’ Brands’s dividend payout ratio (DPR) is -872.65%.

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.