Russell Investments Group Ltd. increased its stake in Dine Brands Global, Inc. (New York Stock Exchange: DIN – Get a rating) by 1,203.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund held 76,108 shares of the restaurateur after buying an additional 70,269 shares during the period. Russell Investments Group Ltd. owned approximately 0.45% of Dine Brands Global worth $5,932,000 at the end of the last quarter.
A number of other hedge funds have also recently changed their DIN holdings. Victory Capital Management Inc. increased its stake in Dine Brands Global by 117.5% during the 1st quarter. Victory Capital Management Inc. now owns 195,737 shares of the restaurateur worth $15,213,000 after purchasing an additional 105,730 shares during the period. Dimensional Fund Advisors LP increased its stake in Dine Brands Global by 219.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 94,096 shares of the restaurant owner worth $7,133,000 after purchasing an additional 64,668 shares during the period. GSA Capital Partners LLP acquired a new stake in Dine Brands Global during the 4th quarter at a value of $223,000. Gotham Asset Management LLC increased its stake in Dine Brands Global by 48.8% during the 4th quarter. Gotham Asset Management LLC now owns 24,945 shares of the restaurateur worth $1,891,000 after purchasing 8,182 additional shares during the period. Finally, ProShare Advisors LLC increased its stake in Dine Brands Global by 61.9% during the 4th quarter. ProShare Advisors LLC now owns 4,101 shares of the restaurant owner worth $311,000 after purchasing 1,568 additional shares during the period. 91.51% of the shares are held by hedge funds and other institutional investors.
Dine Brands Global stock down 1.1%
Shares of DIN opened at $71.56 on Wednesday. The company has a 50-day simple moving average of $68.96 and a 200-day simple moving average of $72.13. The company has a market capitalization of $1.20 billion, a PE ratio of 12.76 and a beta of 1.83. Dine Brands Global, Inc. has a 52 week low of $61.29 and a 52 week high of $95.00.
Global Restaurant Brands (New York Stock Exchange: DIN – Get a rating) last announced its quarterly results on Tuesday, August 9. The restaurateur reported earnings per share (EPS) of $1.65 for the quarter, beating consensus analyst estimates of $1.60 by $0.05. The company posted revenue of $237.79 million in the quarter, compared to a consensus estimate of $236.25 million. Dine Brands Global had a net margin of 10.53% and a negative return on equity of 41.75%. The company’s revenues increased by 1.8% compared to the same quarter last year. During the same quarter last year, the company posted EPS of $1.94. On average, research analysts expect Dine Brands Global, Inc. to post EPS of 5.82 for the current year.
Dine Brands Global increases its dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 8. Shareholders of record on Monday, June 20 received a dividend of $0.51. This represents a dividend of $2.04 on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Thursday, June 16. This is an increase from Dine Brands Global’s previous quarterly dividend of $0.46. Dine Brands Global’s dividend payout ratio (DPR) is currently 36.36%.
Analyst upgrades and downgrades
Several analysts have recently commented on the stock. StockNews.com cut shares of Dine Brands Global from a “buy” rating to a “hold” rating in a Wednesday, Aug. 3 research note. Raymond James cut his price target on Dine Brands Global shares from $95.00 to $85.00 in a Tuesday, July 19 research note. KeyCorp cut its target price on Dine Brands Global shares from $90.00 to $85.00 and set an “overweight” rating for the company in a Friday, July 22 research note. Finally, Barclays cut its price target on Dine Brands Global shares from $93.00 to $88.00 and set an “overweight” rating for the company in a Thursday, June 9 research note. Two analysts gave the stock a hold rating and seven gave the stock a buy rating. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.88.
Global Restaurant Brand Profile
Dine Brands Global, Inc, together with its subsidiaries, owns, franchises, operates and leases full-service restaurants in the United States and around the world. It operates through five segments: Applebee franchise operations, International House of Pancakes (IHOP) franchise operations, rental operations, financing operations and company-operated restaurant operations.
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