Hotchkis & Wiley Capital Management LLC Acquires 254,570 Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 58.3% during the 3rd quarter, Holdings Channel reports. The firm owned 691,585 shares of the restaurant operator’s stock after purchasing an additional 254,570 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in Bloomin’ Brands were worth $11,432,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in BLMN. Gladius Capital Management LP bought a new position in shares of Bloomin’ Brands during the third quarter worth approximately $26,000. KBC Group NV boosted its position in shares of Bloomin’ Brands by 79.1% during the 3rd quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock worth $56,000 after acquiring an additional 1,489 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Bloomin’ Brands during the 2nd quarter worth approximately $111,000. Point72 DIFC Ltd acquired a new stake in shares of Bloomin’ Brands during the 2nd quarter worth approximately $169,000. Finally, Olympiad Research LP acquired a new stake in shares of Bloomin’ Brands during the 3rd quarter worth approximately $202,000.

Analysts Set New Price Targets

BLMN has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 12th. Bank of America reduced their price target on shares of Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Piper Sandler reduced their price target on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. BMO Capital Markets reduced their price target on shares of Bloomin’ Brands from $27.00 to $20.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.70.

Bloomin’ Brands Price Performance

Shares of NASDAQ:BLMN opened at $13.00 on Wednesday. The firm has a market cap of $1.10 billion, a PE ratio of -118.18 and a beta of 1.95. The firm’s fifty day moving average is $15.26 and its 200-day moving average is $17.41. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31. Bloomin’ Brands, Inc. has a 52 week low of $12.26 and a 52 week high of $30.13.

Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings results on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. Bloomin’ Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. Bloomin’ Brands’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 earnings per share. Sell-side analysts predict that Bloomin’ Brands, Inc. will post 1.8 earnings per share for the current year.

Bloomin’ Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 7.38%. Bloomin’ Brands’s dividend payout ratio (DPR) is presently -872.73%.

Bloomin’ Brands 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.