Watershed Asset Management L.L.C. Has $315,000 Stock Holdings in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Watershed Asset Management L.L.C. lifted its stake in Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,207 shares of the restaurant operator’s stock after acquiring an additional 756 shares during the quarter. Bloomin’ Brands makes up approximately 0.4% of Watershed Asset Management L.L.C.’s investment portfolio, making the stock its 27th largest position. Watershed Asset Management L.L.C.’s holdings in Bloomin’ Brands were worth $315,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its position in shares of Bloomin’ Brands by 683.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 1,100 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Bloomin’ Brands during the third quarter worth $32,000. CWM LLC lifted its stake in Bloomin’ Brands by 54.8% in the third quarter. CWM LLC now owns 3,460 shares of the restaurant operator’s stock valued at $85,000 after acquiring an additional 1,225 shares during the last quarter. Assetmark Inc. grew its position in shares of Bloomin’ Brands by 23.5% in the 3rd quarter. Assetmark Inc. now owns 4,026 shares of the restaurant operator’s stock valued at $99,000 after acquiring an additional 765 shares during the period. Finally, Signaturefd LLC grew its position in shares of Bloomin’ Brands by 221.2% in the 3rd quarter. Signaturefd LLC now owns 4,147 shares of the restaurant operator’s stock valued at $102,000 after acquiring an additional 2,856 shares during the period.

Bloomin’ Brands Stock Performance

NASDAQ:BLMN traded up $0.49 during mid-day trading on Tuesday, reaching $27.30. 1,020,498 shares of the company’s stock were exchanged, compared to its average volume of 1,297,226. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.27 and a current ratio of 0.34. The firm has a market capitalization of $2.38 billion, a PE ratio of 10.79 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 business’s fifty day simple moving average is $27.74 and its two-hundred day simple moving average is $26.02.

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

Bloomin’ Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Tuesday, March 5th. Bloomin’ Brands’s payout ratio is currently 37.94%.

Analyst Upgrades and Downgrades

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

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.