LSV Asset Management recently announced the acquisition of new stake in Bloomin’ Brands Inc. (NASDAQ:BLMN). The institutional investor has increased its shareholding in the Consumer Cyclical company by 57.54% to 3.62 million shares with purchase of 1.32 million shares. This fresh investment now brings its stake to 4.12% valued currently at $94.37 million. In addition, Jennison Associates LLC raised its holdings by 32543.0 to 2.96 million shares. And Arrowstreet Capital LP has lifted its position by 5.75% or 0.13 million shares – to 2.45 million shares.
With over 2.06 million Bloomin’ Brands Inc. (BLMN) shares trading Monday and a closing price of $24.27 on the day, the dollar volume was approximately $50.12 million. The shares have shown a positive half year performance of 15.46% and its price on 03/13/23 lost nearly -2.84%. Currently, there are 87.94M common shares owned by the public and among those 83.85M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 13 analysts who have offered their price forecasts for BLMN have a consensus price objective of $30.00. The analysts have set the share’s price value over the next 12 months at a high of $35.00 and a low of $27.00. The average price target is 19.1% above its recent price level and an upside to the estimated low will see the stock gain 10.11% over that period. But an upside of 30.66% will see the stock hit the forecast high price target while median target price for the stock is $30.00.
Insiders at the company have transacted a total of 91 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 55 of these insider trades were purchases, accounting for 1,261,015 shares. Insider sales of the common stock occurred on 36 occasions, with total insider shares sold totaling 1,043,275 shares.
The top 3 mutual fund holders in Bloomin’ Brands Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund. iShares Core S&P Small Cap ETF owns 6.69 million shares of the company’s stock, all valued at over $174.55 million. The company bought an additional 14534.0 shares recently to bring their total holdings to about 7.62% of the shares outstanding. Vanguard Total Stock Market Index bought 3564.0 shares to see its total holdings expand to 2.68 million shares valued at over $70.06 million and representing 3.06% of the shares outstanding. Vanguard Small Cap Index Fund bought 12462.0 shares to bring its total holdings to over 2.27 million shares at a value of $59.37 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.59% of the shares outstanding.
Shares of Bloomin’ Brands Inc. (NASDAQ: BLMN) opened at $24.53, down -$0.45 from a prior closing price of $24.98. However, the script later moved the day high at 24.71, down -2.84%. The company’s stock has a 5-day price change of -7.47% and 13.09% over the past three months. BLMN shares are trading 20.63% year to date (YTD), with the 12-month market performance up to 18.68% higher. It has a 12-month low price of $15.89 and touched a high of $28.46 over the same period. BLMN has an average intraday trading volume of 1.63 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.77%, -0.61%, and 13.26% respectively.
Institutional ownership of Bloomin’ Brands Inc. (NASDAQ: BLMN) 87.94M shares outstanding. Mutual fund holders own 49.82%, while other institutional holders and individual stakeholders account for 58.01% and 40.19% respectively.
It has a market capitalization of $2.18B and a beta (3y monthly) value of 1.90. The stock’s trailing 12-month PE ratio is 25.25, while the earnings-per-share (ttm) stands at $0.96. The company has a PEG of 7.94 and a Quick Ratio of 0.30 with the debt-to-equity ratio at 3.07. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.22% over the week and 3.41% over the month.
Analysts forecast that Bloomin’ Brands Inc. (BLMN) will achieve an EPS of $0.64 for the current quarter, $0.87 for the next quarter and $2.7 for 2023. The lowest estimate earnings-per-share for the quarter is $0.5 while analysts give the company a high EPS estimate of $0.68. Comparatively, EPS for the current quarter was $0.6 a year ago. Earnings per share for the fiscal year are expected to decrease by -48.30%, and 5.62% over the next financial year. EPS should grow at an annualized rate of 3.18% over the next five years, compared to 0.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate Bloomin’ Brands Inc. (BLMN) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 6 of the 13 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the BLMN, a number of firms have released research notes about the stock. BofA Securities stated their Neutral rating for the stock in a research note on January 25, 2023, with the firm’s price target at $27. BMO Capital Markets coverage for the Bloomin’ Brands Inc. (BLMN) stock in a research note released on January 25, 2023 offered a Market Perform rating with a price target of $26. Gordon Haskett was of a view on January 17, 2023 that the stock is Hold, while UBS gave the stock Neutral rating on October 21, 2022, issuing a price target of $23. Citigroup on their part issued Neutral rating on April 12, 2022.
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