Steven Cohen (Trades, Portfolio) of Point72 Asset Management recently increased his stake in Bloomin Brands Inc (BLMN, Financial) during 1Q2015, according to GuruFocus Real Time Picks.
Cohen currently has 673 stocks in his portfolio, valued around $14.67 billion and has a 45% quarter over quarter turnover. The top three most heavily weighted sectors include Consumer Cyclical (19.1%), Energy (18.6%) and Industrials (13.3%).
Cohen purchased 4,818,309 shares around an average price of $22.25 a share. He currently has 6,366,209 shares of the company in his portfolio.
Bloomin Brands Inc, which was formerly named Kangaroo Holdings, Inc., is a casual dining restaurant that owns and operates 1,248 restaurants and has 195 restaurants operating under a franchise or joint venture arrangement within 49 states and 21 countries and territories.
The company's increase in sales this year came from an influx in customer growth resulted in a 12.1% gain in adjusted operating income. During the previous foscal year, the company took a hit in adjusted operating income because of costs from upper management's key focus in launching and supporting lunch daytime operations in more stores.
BLMN is currently trading at $22.27 a share and earnings per share for the trailing twelve months as of March 2015 was $0.76. Thus, the P/E ratio is currently 29.40.
Revenue per share for the trailing twelve months was $35.09 and the average growth rate over the past twelve months was 7.10%. The growth rate over the past three years, however, was -1.30% a year, as revenue has been declining over the past three years.
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