BlackRock Inc. raised its holdings in shares of Dine Brands Global Inc (NYSE:DIN) by 5.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,384,966 shares of the restaurant operator’s stock after acquiring an additional 133,181 shares during the period. BlackRock Inc. owned approximately 13.47% of Dine Brands Global worth $178,396,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. purchased a new position in shares of Dine Brands Global during the 2nd quarter valued at approximately $46,074,000. Bank of New York Mellon Corp increased its holdings in shares of Dine Brands Global by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 460,808 shares of the restaurant operator’s stock valued at $34,469,000 after purchasing an additional 5,162 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Dine Brands Global by 156.2% during the 1st quarter. Millennium Management LLC now owns 275,019 shares of the restaurant operator’s stock valued at $18,036,000 after purchasing an additional 167,678 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Dine Brands Global by 4.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 183,124 shares of the restaurant operator’s stock valued at $13,698,000 after purchasing an additional 7,801 shares in the last quarter. Finally, WINTON GROUP Ltd increased its holdings in shares of Dine Brands Global by 2.9% during the 1st quarter. WINTON GROUP Ltd now owns 157,712 shares of the restaurant operator’s stock valued at $10,343,000 after purchasing an additional 4,406 shares in the last quarter. Institutional investors and hedge funds own 97.14% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Dine Brands Global from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 3rd. Maxim Group reaffirmed a “buy” rating and set a $101.00 target price (up from $95.00) on shares of Dine Brands Global in a report on Wednesday, August 1st. Finally, Raymond James lowered shares of Dine Brands Global from a “strong-buy” rating to an “outperform” rating and lifted their target price for the company from $92.50 to $108.00 in a report on Monday, September 10th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $99.33.
NYSE:DIN opened at $82.51 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of -6.10. The company has a market cap of $1.43 billion, a PE ratio of 19.88 and a beta of 0.07. Dine Brands Global Inc has a 1-year low of $41.75 and a 1-year high of $95.00.
Dine Brands Global (NYSE:DIN) last posted its earnings results on Wednesday, August 1st. The restaurant operator reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.05. The firm had revenue of $184.47 million during the quarter, compared to analyst estimates of $186.92 million. Dine Brands Global had a negative net margin of 50.50% and a negative return on equity of 35.19%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.34 EPS. analysts expect that Dine Brands Global Inc will post 5.36 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 5th. Investors of record on Thursday, September 20th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.05%. The ex-dividend date is Wednesday, September 19th. Dine Brands Global’s payout ratio is presently 60.72%.
In related news, SVP Bryan R. Adel sold 10,488 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $89.50, for a total value of $938,676.00. Following the completion of the sale, the senior vice president now owns 26,895 shares of the company’s stock, valued at approximately $2,407,102.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Larry Alan Kay sold 415 shares of the business’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $71.81, for a total transaction of $29,801.15. The disclosure for this sale can be found here. 2.75% of the stock is currently owned by insiders.
About Dine Brands Global
Dine Brands Global, Inc owns and franchises casual and family dining restaurants. It operates through four segments: Franchise Operations, Rental operations, Company Restaurant Operations, and Financing Operations. The Franchise Operations segment comprises of royalties, fees, and other income for Applebee’s and IHOP franchised and area licensed restaurants.
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