Smith Asset Management Group LP grew its stake in shares of Dine Brands Global Inc (NYSE:DIN) by 36.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,414 shares of the restaurant operator’s stock after acquiring an additional 9,984 shares during the quarter. Smith Asset Management Group LP owned about 0.21% of Dine Brands Global worth $3,042,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in shares of Dine Brands Global by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 460,808 shares of the restaurant operator’s stock worth $34,469,000 after buying an additional 5,162 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Dine Brands Global by 56.0% in the second quarter. Bank of America Corp DE now owns 63,207 shares of the restaurant operator’s stock worth $4,728,000 after buying an additional 22,680 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Dine Brands Global in the second quarter worth approximately $310,000. Victory Capital Management Inc. purchased a new position in shares of Dine Brands Global in the second quarter worth approximately $46,074,000. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of Dine Brands Global by 69.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 6,638 shares of the restaurant operator’s stock worth $497,000 after buying an additional 2,720 shares during the last quarter.
A number of equities analysts recently issued reports on the stock. TheStreet raised shares of Dine Brands Global from a “d+” rating to a “c+” rating in a report on Friday, November 2nd. Zacks Investment Research cut shares of Dine Brands Global from a “hold” rating to a “sell” rating in a research note on Monday. Maxim Group raised their target price on shares of Dine Brands Global from $101.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, September 28th. Finally, Raymond James cut shares of Dine Brands Global from a “strong-buy” rating to an “outperform” rating and raised their target price for the stock from $92.50 to $108.00 in a research note on Monday, September 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $104.00.
NYSE DIN opened at $91.20 on Wednesday. Dine Brands Global Inc has a 12 month low of $42.05 and a 12 month high of $95.00. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 21.98 and a beta of -0.06.
Dine Brands Global (NYSE:DIN) last released its earnings results on Wednesday, October 31st. The restaurant operator reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.01. Dine Brands Global had a net margin of 19.41% and a negative return on equity of 40.87%. The company had revenue of $194.10 million for the quarter, compared to analysts’ expectations of $185.98 million. During the same quarter last year, the business earned $0.91 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. On average, equities analysts forecast that Dine Brands Global Inc will post 5.25 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 4th. Shareholders of record on Thursday, December 20th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Wednesday, December 19th. Dine Brands Global’s payout ratio is 60.72%.
In other Dine Brands Global news, SVP Bryan R. Adel sold 10,488 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $89.50, for a total transaction of $938,676.00. Following the sale, the senior vice president now owns 26,895 shares in the company, valued at approximately $2,407,102.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.75% of the stock is currently owned by company insiders.
Dine Brands Global Company Profile
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.
Further Reading: Earnings Per Share
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