Burgundy Asset Management Ltd. cut its holdings in shares of Dine Brands Global Inc (NYSE:DIN) by 5.9% in the second quarter, HoldingsChannel.com reports. The firm owned 656,718 shares of the restaurant operator’s stock after selling 41,423 shares during the period. Burgundy Asset Management Ltd.’s holdings in Dine Brands Global were worth $49,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. New York State Teachers Retirement System lifted its position in Dine Brands Global by 2.0% during the second quarter. New York State Teachers Retirement System now owns 38,422 shares of the restaurant operator’s stock valued at $2,874,000 after purchasing an additional 767 shares during the period. Prudential Financial Inc. lifted its position in Dine Brands Global by 3.4% during the first quarter. Prudential Financial Inc. now owns 30,337 shares of the restaurant operator’s stock valued at $1,990,000 after purchasing an additional 1,000 shares during the period. Swiss National Bank lifted its position in Dine Brands Global by 3.8% during the first quarter. Swiss National Bank now owns 29,700 shares of the restaurant operator’s stock valued at $1,948,000 after purchasing an additional 1,100 shares during the period. Guggenheim Capital LLC lifted its position in Dine Brands Global by 26.8% during the first quarter. Guggenheim Capital LLC now owns 5,456 shares of the restaurant operator’s stock valued at $358,000 after purchasing an additional 1,153 shares during the period. Finally, SG Americas Securities LLC lifted its position in Dine Brands Global by 5.4% during the first quarter. SG Americas Securities LLC now owns 24,099 shares of the restaurant operator’s stock valued at $1,580,000 after purchasing an additional 1,224 shares during the period. Institutional investors own 97.14% of the company’s stock.
In other Dine Brands Global news, Director Larry Alan Kay sold 415 shares of Dine Brands Global stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $71.81, for a total value of $29,801.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.75% of the stock is currently owned by insiders.
DIN opened at $81.79 on Thursday. Dine Brands Global Inc has a fifty-two week low of $37.11 and a fifty-two week high of $82.62. The company has a debt-to-equity ratio of -6.10, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 19.72 and a beta of 0.05.
Dine Brands Global (NYSE:DIN) last released its quarterly earnings data on Wednesday, August 1st. The restaurant operator reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. Dine Brands Global had a negative net margin of 50.50% and a negative return on equity of 35.19%. The company had revenue of $184.47 million during the quarter, compared to analysts’ expectations of $186.92 million. During the same quarter in the previous year, the company earned $1.34 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. equities analysts anticipate that Dine Brands Global Inc will post 5.21 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 5th. Shareholders of record on Thursday, September 20th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Wednesday, September 19th. This represents a $2.52 dividend on an annualized basis and a yield of 3.08%. Dine Brands Global’s payout ratio is 60.72%.
A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Dine Brands Global from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a report on Wednesday, August 22nd. Maxim Group reaffirmed a “buy” rating and issued a $101.00 price objective (up previously from $95.00) on shares of Dine Brands Global in a report on Wednesday, August 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Dine Brands Global currently has a consensus rating of “Buy” and an average price target of $91.67.
About Dine Brands Global
Dine Brands Global, Inc, together with its subsidiaries, owns, franchises, operates, and rents full-service restaurants in the United States and internationally. It operates through four segments: Franchise Operations, Rental Operations, Company Restaurant Operations, and Financing Operations. The company owns and franchises two restaurant concepts, including Applebee's Neighborhood Grill & Bar (Applebee's) in the bar and grill segment of the casual dining category of the restaurant industry; and International House of Pancakes (IHOP) in the family dining category of the restaurant industry.
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