Xcel Wealth Management LLC Buys 174,036 Shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Xcel Wealth Management LLC increased its stake in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN) by 70.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 422,114 shares of the restaurant operator’s stock after acquiring an additional 174,036 shares during the quarter. Bloomin’ Brands comprises approximately 1.4% of Xcel Wealth Management LLC’s holdings, making the stock its 17th largest holding. Xcel Wealth Management LLC owned 0.50% of Bloomin’ Brands worth $5,154,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BLMN. Erste Asset Management GmbH bought a new position in Bloomin’ Brands during the third quarter worth $41,325,000. FMR LLC increased its position in Bloomin’ Brands by 34.8% during the third quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock worth $22,830,000 after acquiring an additional 356,456 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in Bloomin’ Brands by 58.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 691,585 shares of the restaurant operator’s stock worth $11,432,000 after acquiring an additional 254,570 shares during the period. Verition Fund Management LLC increased its holdings in Bloomin’ Brands by 43.3% in the 3rd quarter. Verition Fund Management LLC now owns 720,403 shares of the restaurant operator’s stock valued at $11,908,000 after buying an additional 217,832 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Bloomin’ Brands by 6.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,529,130 shares of the restaurant operator’s stock valued at $41,806,000 after buying an additional 147,895 shares during the period.

Analysts Set New Price Targets

BLMN has been the topic of several analyst reports. Raymond James lowered shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. Piper Sandler lowered their price target on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. BMO Capital Markets lowered their price target on shares of Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating on the stock in a report on Thursday. Barclays set a $11.00 price target on shares of Bloomin’ Brands and gave the company an “equal weight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. lowered their price target on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $15.00.

Bloomin’ Brands Stock Down 6.4 %

Shares of NASDAQ:BLMN opened at $9.38 on Friday. Bloomin’ Brands, Inc. has a 52 week low of $9.16 and a 52 week high of $30.13. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31. The company’s fifty day moving average is $11.90 and its 200-day moving average is $14.28. The company has a market capitalization of $795.83 million, a PE ratio of -85.26 and a beta of 1.97.

Bloomin’ Brands Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.60 annualized dividend and a yield of 6.40%. Bloomin’ Brands’s dividend payout ratio (DPR) is -40.27%.

Bloomin’ Brands Company Profile

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.