FDx Advisors Inc. Decreases Stake in Bloomin' Brands Inc (BLMN)
FDx Advisors Inc. reduced its holdings in Bloomin' Brands Inc (NASDAQ:BLMN) by 17.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,596 shares of the restaurant operator’s stock after selling 4,449 shares during the period. FDx Advisors Inc.’s holdings in Bloomin' Brands were worth $461,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of BLMN. ARP Americas LP purchased a new position in Bloomin' Brands during the fourth quarter worth about $391,000. Arrowstreet Capital Limited Partnership purchased a new position in Bloomin' Brands during the fourth quarter worth about $1,225,000. UBS Asset Management Americas Inc. raised its stake in Bloomin' Brands by 3.4% during the fourth quarter. UBS Asset Management Americas Inc. now owns 78,505 shares of the restaurant operator’s stock worth $1,675,000 after purchasing an additional 2,593 shares during the period. Schroder Investment Management Group raised its stake in Bloomin' Brands by 21.0% during the fourth quarter. Schroder Investment Management Group now owns 40,088 shares of the restaurant operator’s stock worth $855,000 after purchasing an additional 6,959 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Bloomin' Brands by 3.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,290,939 shares of the restaurant operator’s stock worth $27,549,000 after purchasing an additional 48,788 shares during the period. 94.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Bloomin' Brands Inc (NASDAQ:BLMN) opened at $23.74 on Friday. Bloomin' Brands Inc has a 12-month low of $16.11 and a 12-month high of $24.43. The firm has a market cap of $2,197.87, a PE ratio of 17.59, a price-to-earnings-growth ratio of 1.72 and a beta of 0.44. The company has a debt-to-equity ratio of 31.17, a quick ratio of 0.29 and a current ratio of 0.36.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Monday, March 5th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, March 2nd. This is a boost from Bloomin' Brands’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.52%. Bloomin' Brands’s dividend payout ratio (DPR) is currently 32.65%.
Bloomin' Brands declared that its Board of Directors has authorized a share repurchase plan on Thursday, February 22nd that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the restaurant operator to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
A number of equities analysts have commented on the stock. William Blair reaffirmed a “market perform” rating on shares of Bloomin' Brands in a research note on Monday, January 22nd. Barclays reaffirmed an “overweight” rating and set a $25.00 target price (up from $21.00) on shares of Bloomin' Brands in a research note on Tuesday, January 16th. Zacks Investment Research raised shares of Bloomin' Brands from a “sell” rating to a “hold” rating in a research note on Thursday, January 18th. Goldman Sachs Group reaffirmed a “sell” rating on shares of Bloomin' Brands in a research note on Friday, January 19th. Finally, Citigroup cut shares of Bloomin' Brands to a “market perform” rating in a research report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $22.78.
In related news, EVP David J. Deno sold 41,097 shares of Bloomin' Brands stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $22.00, for a total value of $904,134.00. Following the completion of the transaction, the executive vice president now owns 15,135 shares in the company, valued at $332,970. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Elizabeth A. Smith sold 375,000 shares of Bloomin' Brands stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $20.79, for a total transaction of $7,796,250.00. Following the completion of the transaction, the chairman now owns 206,235 shares of the company’s stock, valued at approximately $4,287,625.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 727,829 shares of company stock valued at $16,125,400. Company insiders own 7.04% of the company’s stock.
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Bloomin' Brands Profile
Bloomin’ Brands, Inc is a holding company. The Company owns and operates casual, upscale casual and fine dining restaurants. The Company operates through two segments: U.S. and International. The U.S. segment includes all brands operating in the United States. The International segment includes brands operating outside the United States.
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