Prudential Financial Inc. Has $12.51 Million Stock Position in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Prudential Financial Inc. grew its holdings in Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 40.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,024,543 shares of the restaurant operator’s stock after purchasing an additional 295,641 shares during the period. Prudential Financial Inc.’s holdings in Bloomin’ Brands were worth $12,510,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Erste Asset Management GmbH bought a new position in Bloomin’ Brands in the third quarter valued at $41,325,000. American Century Companies Inc. boosted its stake in shares of Bloomin’ Brands by 565.9% during the 4th quarter. American Century Companies Inc. now owns 1,791,366 shares of the restaurant operator’s stock worth $21,873,000 after buying an additional 1,522,370 shares during the last quarter. FMR LLC grew its holdings in shares of Bloomin’ Brands by 34.8% in the 3rd quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock valued at $22,830,000 after acquiring an additional 356,456 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Bloomin’ Brands by 58.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 691,585 shares of the restaurant operator’s stock valued at $11,432,000 after acquiring an additional 254,570 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Bloomin’ Brands during the fourth quarter worth about $2,882,000.

Bloomin’ Brands Stock Down 8.0 %

Bloomin’ Brands stock opened at $7.41 on Friday. The company’s 50-day moving average price is $10.44 and its two-hundred day moving average price is $12.98. 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 stock has a market cap of $629.34 million, a P/E ratio of -67.36 and a beta of 2.04. Bloomin’ Brands, Inc. has a twelve month low of $7.37 and a twelve month high of $29.10.

Bloomin’ Brands Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.60 annualized dividend and a yield of 8.10%. Bloomin’ Brands’s payout ratio is currently -40.27%.

Insider Activity at Bloomin’ Brands

In other Bloomin’ Brands news, EVP Patrick M. Hafner sold 9,555 shares of Bloomin’ Brands stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $8.32, for a total value of $79,497.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on BLMN. The Goldman Sachs Group lowered their price target on Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating on the stock in a research report on Thursday, February 27th. Barclays set a $11.00 price target on shares of Bloomin’ Brands and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. decreased their price objective on shares of Bloomin’ Brands from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. BMO Capital Markets lowered their price objective on shares of Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating on the stock in a research note on Thursday, February 27th. Finally, UBS Group cut their target price on shares of Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company. According to MarketBeat, Bloomin’ Brands has an average rating of “Hold” and an average target price of $14.50.

Bloomin’ Brands Company Profile

Bloomin’ Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.