2015 All-America Research Team: Restaurants, No. 3: John Ivankoe
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2015 All-America Research Team: Restaurants, No. 3: John Ivankoe

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After three straight years at No. 2, J.P. Morgan’s John Ivankoe slips to third place, the position he earned in 2010 and 2011.

< The 2015 All-America Research Team

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John Ivankoe

J.P. Morgan

First-place appearances: 0


Total appearances: 11


Analyst debut: 2005


After three straight years at No. 2, J.P. Morgan’s John Ivankoe slips to third place, the position he earned in 2010 and 2011. One money manager delineates what sets the analyst apart: “John chooses to cover the restaurant industry outside the safe confines of New York — where he can see how the real world dines. He has one of the longer tenures following the group, garnering him some of the deepest industry contacts around and an encyclopedia of knowledge. Being one of the better stock pickers in the group doesn’t hurt either.” Many U.S. restaurants are trading near full valuations, making obvious opportunities relatively scarce, reports Ivankoe, 43. An exception, however, is Tampa, Florida’s Bloomin’ Brands, a casual restaurant holding company whose portfolio includes Bonefish Grill, Carrabba’s Italian Grill, Fleming’s Prime Steakhouse & Wine Bar and Outback Steakhouse. In August 2014, after the stock declined 31.6 percent in one day on disappointing second-quarter earnings, Ivankoe reiterated the overweight rating he had held on the name since changing his position from neutral that January, on valuation and potential margin expansion. By the middle of last month, it had jumped 33.5 percent, to $19.95, and led the S&P 500 by 31.5 percentage points. Ivankoe continues to tout Bloomin’ Brands for its margin improvement and management’s cost-savings initiatives, among other factors.



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