Wedge Capital Management L L P NC Lowers Stock Holdings in Bloomin’ Brands Inc (NASDAQ:BLMN)

Wedge Capital Management L L P NC trimmed its holdings in shares of Bloomin’ Brands Inc (NASDAQ:BLMN) by 3.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 533,072 shares of the restaurant operator’s stock after selling 17,818 shares during the period. Wedge Capital Management L L P NC’s holdings in Bloomin’ Brands were worth $10,080,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Stevens Capital Management LP purchased a new position in shares of Bloomin’ Brands during the second quarter valued at approximately $270,000. Advisor Group Inc. increased its position in shares of Bloomin’ Brands by 35.7% during the second quarter. Advisor Group Inc. now owns 7,144 shares of the restaurant operator’s stock valued at $135,000 after acquiring an additional 1,881 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in shares of Bloomin’ Brands during the second quarter valued at approximately $516,000. Aperio Group LLC bought a new stake in shares of Bloomin’ Brands during the second quarter valued at approximately $191,000. Finally, Dupont Capital Management Corp bought a new stake in shares of Bloomin’ Brands during the second quarter valued at approximately $1,352,000. Hedge funds and other institutional investors own 94.52% of the company’s stock.

NASDAQ:BLMN traded down $0.21 during trading hours on Thursday, reaching $15.74. The company had a trading volume of 30,998 shares, compared to its average volume of 1,668,842. The company has a debt-to-equity ratio of 15.18, a quick ratio of 0.21 and a current ratio of 0.30. Bloomin’ Brands Inc has a 52 week low of $15.94 and a 52 week high of $22.22. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 1.10 and a beta of 0.23. The company’s 50 day simple moving average is $17.64.

Bloomin’ Brands (NASDAQ:BLMN) last posted its earnings results on Wednesday, July 31st. The restaurant operator reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Bloomin’ Brands had a net margin of 2.62% and a return on equity of 105.54%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the firm posted $0.36 EPS. The firm’s revenue was down 1.0% on a year-over-year basis. On average, equities research analysts predict that Bloomin’ Brands Inc will post 1.58 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Monday, August 12th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Friday, August 9th. Bloomin’ Brands’s dividend payout ratio (DPR) is presently 26.67%.

Several brokerages recently weighed in on BLMN. Deutsche Bank began coverage on shares of Bloomin’ Brands in a research report on Friday, June 28th. They set a “buy” rating and a $24.00 price target for the company. TheStreet downgraded shares of Bloomin’ Brands from a “b-” rating to a “c+” rating in a research report on Monday, August 5th. BMO Capital Markets downgraded shares of Bloomin’ Brands from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $23.00 to $18.00 in a research report on Thursday, May 23rd. Loop Capital began coverage on shares of Bloomin’ Brands in a research report on Monday, July 22nd. They set a “buy” rating and a $22.00 price target for the company. Finally, ValuEngine downgraded shares of Bloomin’ Brands from a “hold” rating to a “sell” rating in a research report on Monday, July 8th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $21.36.

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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.

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Institutional Ownership by Quarter for Bloomin` Brands (NASDAQ:BLMN)

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