Kornitzer Capital Management Inc. KS Sells 1,000 Shares of Dunkin’ Brands Group, Inc. (DNKN)

Kornitzer Capital Management Inc. KS lessened its holdings in shares of Dunkin’ Brands Group, Inc. (NASDAQ:DNKN) by 12.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,850 shares of the restaurant operator’s stock after selling 1,000 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Dunkin’ Brands Group were worth $364,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in DNKN. Janus Henderson Group PLC bought a new stake in Dunkin’ Brands Group during the 2nd quarter valued at $474,315,000. Vaughan Nelson Investment Management L.P. bought a new stake in Dunkin’ Brands Group during the 3rd quarter valued at $43,085,000. Victory Capital Management Inc. increased its stake in Dunkin’ Brands Group by 82.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,269,121 shares of the restaurant operator’s stock valued at $69,954,000 after purchasing an additional 571,831 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Dunkin’ Brands Group during the 2nd quarter valued at $22,048,000. Finally, First Manhattan Co. increased its stake in Dunkin’ Brands Group by 39.0% during the 2nd quarter. First Manhattan Co. now owns 1,366,963 shares of the restaurant operator’s stock valued at $75,347,000 after purchasing an additional 383,460 shares in the last quarter. Institutional investors and hedge funds own 93.08% of the company’s stock.

A number of brokerages have commented on DNKN. Robert W. Baird set a $66.00 price target on shares of Dunkin’ Brands Group and gave the company a “buy” rating in a research note on Monday, October 30th. Mizuho downgraded shares of Dunkin’ Brands Group from a “neutral” rating to an “underperform” rating and set a $56.00 price objective on the stock. in a report on Thursday, October 26th. Maxim Group reaffirmed a “buy” rating and set a $64.00 price objective on shares of Dunkin’ Brands Group in a report on Thursday, October 26th. Wedbush reaffirmed a “hold” rating and set a $56.00 price objective on shares of Dunkin’ Brands Group in a report on Friday, October 27th. Finally, Cowen and Company reaffirmed a “hold” rating and set a $55.00 price objective on shares of Dunkin’ Brands Group in a report on Friday, October 27th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $58.58.

Dunkin’ Brands Group, Inc. (NASDAQ DNKN) opened at $56.54 on Friday. Dunkin’ Brands Group, Inc. has a fifty-two week low of $48.53 and a fifty-two week high of $60.66. The firm has a market cap of $5,094.21, a PE ratio of 23.21, a P/E/G ratio of 1.75 and a beta of 0.30. The company has a quick ratio of 1.38, a current ratio of 1.43 and a debt-to-equity ratio of -13.82.

Dunkin’ Brands Group (NASDAQ:DNKN) last announced its quarterly earnings data on Thursday, October 26th. The restaurant operator reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.02). Dunkin’ Brands Group had a net margin of 24.91% and a negative return on equity of 140.12%. The firm had revenue of $224.20 million during the quarter, compared to the consensus estimate of $214.60 million. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. analysts predict that Dunkin’ Brands Group, Inc. will post 2.42 earnings per share for the current fiscal year.

Dunkin’ Brands Group announced that its Board of Directors has initiated a share buyback plan on Thursday, October 26th that permits the company to repurchase $650.00 million in outstanding shares. This repurchase authorization permits the restaurant operator to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 6th. Investors of record on Monday, November 27th will be paid a $0.322 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Friday, November 24th. Dunkin’ Brands Group’s dividend payout ratio is currently 56.33%.

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About Dunkin’ Brands Group

Dunkin’ Brands Group, Inc is a franchisor of quick service restaurants (QSRs) serving hot and cold coffee and baked goods, as well as hard serve ice cream. The Company franchises restaurants under its Dunkin’ Donuts and Baskin-Robbins brands. The Company operates through four segments: Dunkin’ Donuts-U.S., Dunkin’ Donuts International, Baskin-Robbins International and Baskin-Robbins-U.S.

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Institutional Ownership by Quarter for Dunkin` Brands Group (NASDAQ:DNKN)

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