Victory Capital Management Inc. Has $39.34 Million Stock Holdings in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Victory Capital Management Inc. trimmed its stake in Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 4.5% in the third quarter, HoldingsChannel reports. The firm owned 2,380,068 shares of the restaurant operator’s stock after selling 112,051 shares during the period. Victory Capital Management Inc.’s holdings in Bloomin’ Brands were worth $39,343,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of BLMN. Deprince Race & Zollo Inc. acquired a new stake in Bloomin’ Brands in the second quarter worth $28,672,000. Millennium Management LLC grew its holdings in Bloomin’ Brands by 2,520.7% in the second quarter. Millennium Management LLC now owns 468,507 shares of the restaurant operator’s stock worth $9,009,000 after purchasing an additional 450,630 shares during the period. Systematic Financial Management LP grew its holdings in Bloomin’ Brands by 76.5% in the second quarter. Systematic Financial Management LP now owns 544,742 shares of the restaurant operator’s stock worth $10,475,000 after purchasing an additional 236,037 shares during the period. Principal Financial Group Inc. grew its holdings in Bloomin’ Brands by 6.2% in the third quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator’s stock worth $41,806,000 after purchasing an additional 147,895 shares during the period. Finally, BW Gestao de Investimentos Ltda. grew its holdings in Bloomin’ Brands by 45.7% in the second quarter. BW Gestao de Investimentos Ltda. now owns 457,704 shares of the restaurant operator’s stock worth $8,802,000 after purchasing an additional 143,485 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BLMN. Piper Sandler dropped their price objective on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Raymond James lowered shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. StockNews.com raised shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Bank of America dropped their price objective 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. Finally, Barclays dropped their price objective 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. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Bloomin’ Brands currently has a consensus rating of “Hold” and an average price target of $19.70.

Bloomin’ Brands Price Performance

BLMN opened at $13.20 on Friday. Bloomin’ Brands, Inc. has a fifty-two week low of $13.07 and a fifty-two week high of $30.13. The firm has a 50-day moving average of $16.13 and a 200 day moving average of $18.51. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.26 and a current ratio of 0.31. The firm has a market cap of $1.12 billion, a P/E ratio of -119.99 and a beta of 2.04.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. Bloomin’ Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business posted $0.44 EPS. Bloomin’ Brands’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, research analysts expect that Bloomin’ Brands, Inc. will post 1.81 EPS for the current year.

Bloomin’ Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 7.27%. The ex-dividend date of this dividend is Monday, November 25th. Bloomin’ Brands’s dividend payout ratio (DPR) is presently -872.65%.

Bloomin’ Brands Company Profile

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.