Teacher Retirement System of Texas lowered its position in shares of Dine Brands Global Inc (NYSE:DIN) by 36.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,789 shares of the restaurant operator’s stock after selling 2,154 shares during the quarter. Teacher Retirement System of Texas’ holdings in Dine Brands Global were worth $248,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. raised its holdings in Dine Brands Global by 10.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 170,224 shares of the restaurant operator’s stock worth $8,636,000 after acquiring an additional 16,535 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Dine Brands Global by 6.5% in the fourth quarter. Victory Capital Management Inc. now owns 16,043 shares of the restaurant operator’s stock valued at $814,000 after purchasing an additional 975 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Dine Brands Global by 18.2% in the fourth quarter. California Public Employees Retirement System now owns 65,593 shares of the restaurant operator’s stock valued at $3,328,000 after purchasing an additional 10,108 shares during the last quarter. Pinebridge Investments L.P. grew its position in Dine Brands Global by 72.9% during the fourth quarter. Pinebridge Investments L.P. now owns 25,367 shares of the restaurant operator’s stock worth $1,286,000 after buying an additional 10,693 shares in the last quarter. Finally, Arizona State Retirement System grew its position in Dine Brands Global by 223.1% during the fourth quarter. Arizona State Retirement System now owns 30,233 shares of the restaurant operator’s stock worth $1,534,000 after buying an additional 20,876 shares in the last quarter. Institutional investors own 97.14% of the company’s stock.
Shares of NYSE:DIN traded down $2.82 during mid-day trading on Friday, reaching $74.80. The company had a trading volume of 226,816 shares, compared to its average volume of 380,831. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of -6.30. The stock has a market capitalization of $1.38 billion, a PE ratio of 18.02 and a beta of 0.12. Dine Brands Global Inc has a one year low of $36.71 and a one year high of $82.62.
Dine Brands Global (NYSE:DIN) last released its quarterly earnings results on Wednesday, May 2nd. The restaurant operator reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.01. The firm had revenue of $188.20 million during the quarter, compared to analyst estimates of $155.46 million. Dine Brands Global had a negative net margin of 51.53% and a negative return on equity of 91.75%. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.22 EPS. research analysts predict that Dine Brands Global Inc will post 5.11 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 6th. Investors of record on Wednesday, June 20th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Tuesday, June 19th. Dine Brands Global’s payout ratio is currently 60.72%.
In related news, Director Gilbert T. Ray sold 17,868 shares of the firm’s stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $75.90, for a total value of $1,356,181.20. Following the sale, the director now owns 7,500 shares in the company, valued at $569,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Larry Alan Kay sold 400 shares of the stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $77.19, for a total transaction of $30,876.00. Following the completion of the transaction, the director now owns 8,199 shares in the company, valued at $632,880.81. The disclosure for this sale can be found here. 2.75% of the stock is owned by corporate insiders.
A number of equities research analysts have weighed in on DIN shares. Maxim Group reaffirmed a “buy” rating and issued a $95.00 target price (up previously from $87.00) on shares of Dine Brands Global in a report on Wednesday, April 25th. Zacks Investment Research upgraded Dine Brands Global from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a research note on Monday, May 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $89.00.
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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