California Public Employees Retirement System lowered its position in Bloomin’ Brands Inc. (NASDAQ:BLMN) by 6.2% during the second quarter, Holdings Channel reports. The fund owned 147,300 shares of the company’s stock after selling 9,700 shares during the period. California Public Employees Retirement System owned approximately 0.12% of Bloomin’ Brands worth $2,632,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Seven Eight Capital LLC increased its position in Bloomin’ Brands by 573.4% in the first quarter. Seven Eight Capital LLC now owns 8,000 shares of the company’s stock valued at $135,000 after buying an additional 6,812 shares in the last quarter. Barnett & Company Inc. purchased a new position in Bloomin’ Brands during the first quarter valued at $243,000. BlackRock Inc. increased its position in Bloomin’ Brands by 52.1% in the first quarter. BlackRock Inc. now owns 16,180 shares of the company’s stock valued at $273,000 after buying an additional 5,543 shares in the last quarter. Mizuho Trust & Banking Co. Ltd. increased its position in Bloomin’ Brands by 13.6% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 16,660 shares of the company’s stock valued at $298,000 after buying an additional 2,000 shares in the last quarter. Finally, Boothbay Fund Management LLC purchased a new position in Bloomin’ Brands during the first quarter valued at $314,000. 93.55% of the stock is owned by hedge funds and other institutional investors.
Shares of Bloomin’ Brands Inc. (NASDAQ:BLMN) traded up 0.379% during midday trading on Friday, reaching $17.235. The company’s stock had a trading volume of 885,027 shares. The firm has a market capitalization of $1.95 billion, a PE ratio of 35.610 and a beta of 0.80. Bloomin’ Brands Inc. has a 1-year low of $14.91 and a 1-year high of $19.89. The company’s 50-day moving average price is $18.82 and its 200 day moving average price is $18.38.
Bloomin’ Brands (NASDAQ:BLMN) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.30 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. The company earned $1.07 billion during the quarter, compared to analyst estimates of $1.09 billion. Bloomin’ Brands had a return on equity of 38.79% and a net margin of 1.38%. The firm’s revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 earnings per share. On average, equities research analysts forecast that Bloomin’ Brands Inc. will post $1.34 earnings per share for the current year.
Several equities analysts have recently issued reports on BLMN shares. Zacks Investment Research upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets reiterated an “outperform” rating and issued a $22.00 price objective on shares of Bloomin’ Brands in a research note on Tuesday, August 2nd. Raymond James Financial Inc. reiterated an “outperform” rating and issued a $21.00 price objective on shares of Bloomin’ Brands in a research note on Friday, July 15th. Finally, TheStreet cut Bloomin’ Brands from a “buy” rating to a “hold” rating in a research note on Friday, June 17th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $20.92.
In other Bloomin’ Brands news, Director Chris Thomas Sullivan sold 53,850 shares of the company’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $19.01, for a total transaction of $1,023,688.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Kappitt sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $19.50, for a total value of $195,000.00. The disclosure for this sale can be found here. Company insiders own 6.68% of the company’s stock.
About Bloomin’ Brands
Bloomin’ Brands, Inc (Bloomin’ Brands) is a holding company engaged in operating casual dining restaurants. The Company has a portfolio of four restaurant concepts: Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar. The Company owns and operates approximately 1,340 restaurants and franchises over 170 restaurants across approximately 50 states, Puerto Rico, Guam and approximately 20 countries.
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