BlackRock Fund Advisors 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 0.47% to 12.08 million shares with purchase of 56155.0 shares. This fresh investment now brings its stake to 13.80% valued currently at $139.17 million. In addition, Westwood Management Corp. (Texas) raised its holdings by 76662.0 to 3.15 million shares. And SSgA Funds Management, Inc. has lifted its position by 0.46% or 13053.0 shares – to 2.88 million shares.
With over 7.05 million Bloomin’ Brands Inc. (BLMN) shares trading Tuesday and a closing price of $16.10 on the day, the dollar volume was approximately $113.51 million. The shares have shown a positive weekly performance of 27.27% and its price on 09/01/20 gained nearly 12.27%. Currently, there are 87.50M common shares owned by the public and among those 80.05M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 16 analysts who have offered their price forecasts for BLMN have a consensus price objective of $15.20. The analysts have set the share’s price value over the next 12 months at a high of $20.00 and a low of $12.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Bloomin’ Brands Inc. stock is 2.20 for the next 12 months. The average price target is -13.94% below its last price level and a downside to the estimated low will see the stock lose -34.17% over that period. But an upside of 19.5% will see the stock hit the forecast high price target while mean target price for the stock is $15.00.
Insiders at the company have transacted a total of 89 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 54 of these insider trades were purchases, accounting for 534,731 shares. Insider sales of the common stock occurred on 35 occasions, with total insider shares sold totaling 160,471 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 5.46 million shares of the company’s stock, all valued at over $62.91 million. The company bought an additional 34314.0 shares recently to bring their total holdings to about 6.24% of the shares outstanding. Vanguard Total Stock Market Index sold 2163.0 shares to see its total holdings shrink to 2.27 million shares valued at over $26.2 million and representing 2.60% of the shares outstanding. Vanguard Small Cap Index Fund sold 11620.0 shares to bring its total holdings to over 1.96 million shares at a value of $22.6 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.24% of the shares outstanding.
Shares of Bloomin’ Brands Inc. (NASDAQ: BLMN) opened at $15.25, up $0.91 from a prior closing price of $14.34. However, the script later closed the day at $16.10, up 12.27%. The company’s stock has a 5-day price change of 27.27% and 30.58% over the past three months. BLMN shares are trading -27.05% year to date (YTD), with the 12-month market performance down to -11.20% lower. It has a 12-month low price of $4.54 and touched a high of $24.29 over the same period. Currently, 7.05 million shares have been traded, compared to an average intraday trading volume of 3.30 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 28.74%, 41.68%, and 9.12% respectively.
Institutional ownership of Bloomin’ Brands Inc. (NASDAQ: BLMN) shares accounts for 94.20% of the company’s 87.50M shares outstanding. Mutual fund holders own 43.95%, while other institutional holders and individual stakeholders account for 47.85% and 39.67% respectively.
It has a market capitalization of $1.30B and a beta (3y monthly) value of 1.79. The earnings-per-share (ttm) stands at -$1.07. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.85% over the week and 4.76% over the month.
Analysts forecast that Bloomin’ Brands Inc. (BLMN) will achieve an EPS of -$0.35 for the current quarter, $0.03 for the next quarter and $0.95 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.77 while analysts give the company a high EPS estimate of -$0.18. Comparatively, EPS for the current quarter was $0.1 a year ago. Earnings per share for the fiscal year are expected to increase by 27.80%, and 203.30% over the next financial year. EPS should shrink at an annualized rate of -5.67% over the next five years, compared to 15.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate Bloomin’ Brands Inc. (BLMN) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 10 Wall Street analysts polled rate the stock as a buy, while 6 of the 16 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. Raymond James stated their Strong Buy rating for the stock in a research note on September 01, 2020, with the firm’s price target at $18. Deutsche Bank coverage for the Bloomin’ Brands Inc. (BLMN) stock in a research note released on September 01, 2020 offered a Buy rating with a price target of $20. JP Morgan was of a view on July 27, 2020 that the stock is Overweight, while BofA Securities gave the stock Neutral rating on July 23, 2020, issuing a price target of. Credit Suisse on their part issued Neutral rating on July 09, 2020.