Miller Value Partners’ Deep Value Strategy bought a stake in Bloomin' Brands during the first quarter of 2026[1].
The addition matters because the fund posted an eight point three nine percent net‑of‑fees gain in Q1, far surpassing the S&P 1500 Value Index's modest zero point one nine percent rise and the S&P 600 Value Index's four point three two percent increase[2]. Investors may view the move as a vote of confidence in Bloomin's ongoing multi‑year turnaround—an effort that aims to modernize menus and improve restaurant economics.
Bloomin' Brands, the U.S. restaurant operator behind Outback Steakhouse and Carrabba's Italian Grill, has been executing a transformation plan that includes menu innovation, digital ordering upgrades, and cost‑control initiatives[1]. Bloomin' Brands is in the midst of a multi‑year transformation of its restaurant portfolio[1]. The strategy’s entry aligns with the company's push to boost comparable sales and expand its franchise footprint.
Miller Deep Value Select posted an eight point three nine percent gain in the first quarter, net of fees[2]. The strategy outperformed the S&P 1500 Value Index, which rose only zero point one nine percent in the same period[2]. Miller’s Deep Value Select outperformed broader value benchmarks, delivering eight point three nine percent versus zero point one nine percent for the S&P 1500 Value Index and four point three two percent for the S&P 600 Value Index in the quarter[2]. The fund’s focus on undervalued stocks with strong cash flows appears to have rewarded shareholders as the broader market lagged.
The deep‑value approach, which seeks companies trading below intrinsic worth, often targets sectors undergoing restructuring. By positioning in Bloomin' Brands, Miller signals that the restaurant chain’s turnaround could unlock upside for investors who tolerate short‑term volatility for long‑term gains.
What this means: The stake suggests that value‑focused managers see Bloomin' Brands' restructuring as a catalyst for future earnings growth, potentially prompting other funds to consider similar positions as the restaurant sector seeks recovery.
“Miller Deep Value Select posted an eight point three nine percent gain in the first quarter, net of fees.”
The stake suggests that value‑focused managers see Bloomin' Brands' restructuring as a catalyst for future earnings growth, potentially prompting other funds to consider similar positions as the restaurant sector seeks recovery.
