JPMorgan Chase & Co. Cuts Bloomin’ Brands (NASDAQ:BLMN) Price Target to $10.00

Bloomin’ Brands (NASDAQ:BLMN) had its price target lowered by JPMorgan Chase & Co. from $13.00 to $10.00 in a research note published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the restaurant operator’s stock.

A number of other equities research analysts also recently issued reports on BLMN. Barclays set a $11.00 price objective on Bloomin’ Brands and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Bank of America downgraded Bloomin’ Brands from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $18.00 to $13.00 in a research report on Monday, January 27th. BMO Capital Markets lowered their price target on Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating on the stock in a research report on Thursday, February 27th. Piper Sandler lowered their price target on Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Finally, UBS Group lowered their price target on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Bloomin’ Brands presently has an average rating of “Hold” and a consensus price target of $14.60.

Bloomin’ Brands Trading Up 6.1 %

Shares of BLMN stock opened at $9.23 on Monday. 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 has a 52-week low of $8.00 and a 52-week high of $29.30. The company has a market capitalization of $783.91 million, a PE ratio of -83.90 and a beta of 2.04. The business’s fifty day moving average is $11.33 and its 200 day moving average is $13.72.

Bloomin’ Brands Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.60 annualized dividend and a dividend yield of 6.50%. Bloomin’ Brands’s dividend payout ratio is currently -40.27%.

Insider Buying and Selling

In related news, EVP Patrick M. Hafner sold 9,555 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $8.32, for a total value of $79,497.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is owned by insiders.

Institutional Trading of Bloomin’ Brands

Large investors have recently modified their holdings of the business. Gladius Capital Management LP bought a new stake in shares of Bloomin’ Brands in the third quarter worth about $26,000. Headlands Technologies LLC bought a new stake in Bloomin’ Brands during the 4th quarter valued at approximately $27,000. Public Employees Retirement System of Ohio purchased a new position in shares of Bloomin’ Brands during the 4th quarter worth approximately $32,000. KBC Group NV grew its holdings 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 during the period. Finally, Meeder Asset Management Inc. purchased a new position in shares of Bloomin’ Brands during the 4th quarter worth approximately $41,000.

About Bloomin’ Brands

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.