Sat. Sep 23rd, 2023
    Livforsakringsbolaget Skandia Omsesidigt Increases Holdings in Bloomin’ Brands, Inc.

    Livforsakringsbolaget Skandia Omsesidigt, a Swedish life insurance company, has increased its holdings in Bloomin’ Brands, Inc. during the second quarter. The firm now owns 62,500 shares of the restaurant operator’s stock, representing a 53.2% increase from the previous quarter.

    Other hedge funds have also recently bought and sold shares of Bloomin’ Brands. Clearbridge Investments LLC increased its position by 171.3%, while BlackRock Inc. grew its position by 13.0%. Norges Bank and Schonfeld Strategic Advisors LLC also acquired new stakes in the company. Millennium Management LLC experienced significant growth in their position, increasing it by 2,002.9%.

    Bloomin’ Brands, Inc. is a restaurant operator that owns and operates various casual and fine dining establishments, including Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, and Fleming’s Prime Steakhouse & Wine Bar.

    The company’s stock performance has been steady, with a 1-year low of $17.96 and a 1-year high of $28.67. The stock currently has a market capitalization of $2.36 billion.

    In terms of earnings, Bloomin’ Brands exceeded analyst expectations, reporting $0.74 earnings per share for the most recent quarter. The company’s revenue for the quarter was $1.15 billion, a 2.4% increase from the same period last year. Analysts are predicting a positive EPS of 2.94 for the current year.

    Bloomin’ Brands recently announced a quarterly dividend of $0.24 per share, resulting in an annualized dividend yield of 3.54%. The company’s dividend payout ratio is currently 37.21%.

    According to various research firms, Bloomin’ Brands has received mixed ratings from analysts, with nine rating the stock as a hold, three as a buy, and one as a strong buy. MarketBeat, a financial data company, has identified the stock as having a consensus rating of “Hold” and an average price target of $30.00.

    Overall, Bloomin’ Brands, Inc. has seen increased interest from hedge funds and has reported positive earnings for the most recent quarter. However, analysts have mixed opinions on the stock, with some recommending a hold and others recommending a buy.

    Source: This article is based on a report by MarketBeat. Definitions for Livforsakringsbolaget Skandia Omsesidigt, hedge funds, market capitalization, earnings per share (EPS), revenue, dividend payout ratio, and consensus rating are provided by Investopedia.