DineEquity, Inc (DIN) Stake Increased by California Public Employees Retirement System
California Public Employees Retirement System grew its position in DineEquity, Inc (NYSE:DIN) by 9.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,400 shares of the restaurant operator’s stock after buying an additional 4,000 shares during the period. California Public Employees Retirement System owned 0.25% of DineEquity worth $1,956,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of DineEquity by 59.4% in the 2nd quarter. FMR LLC now owns 2,697,013 shares of the restaurant operator’s stock valued at $118,803,000 after buying an additional 1,005,504 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of DineEquity by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,578,848 shares of the restaurant operator’s stock valued at $69,548,000 after buying an additional 56,955 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of DineEquity by 1.3% in the 2nd quarter. Northern Trust Corp now owns 272,478 shares of the restaurant operator’s stock valued at $12,003,000 after buying an additional 3,595 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of DineEquity by 14.6% in the 2nd quarter. D.A. Davidson & CO. now owns 9,280 shares of the restaurant operator’s stock valued at $408,000 after buying an additional 1,180 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of DineEquity by 0.9% in the 2nd quarter. New York State Common Retirement Fund now owns 25,412 shares of the restaurant operator’s stock valued at $1,119,000 after buying an additional 215 shares in the last quarter. Institutional investors and hedge funds own 92.07% of the company’s stock.
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A number of analysts have recently weighed in on the stock. Raymond James Financial, Inc. restated a “market perform” rating on shares of DineEquity in a report on Monday, July 24th. ValuEngine cut shares of DineEquity from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Maxim Group lowered their target price on shares of DineEquity from $77.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, August 8th. Zacks Investment Research cut shares of DineEquity from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Finally, BidaskClub upgraded shares of DineEquity from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. DineEquity presently has a consensus rating of “Hold” and a consensus target price of $56.47.
DineEquity (NYSE:DIN) last announced its quarterly earnings results on Thursday, August 10th. The restaurant operator reported $1.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.10. The company had revenue of $155.20 million for the quarter, compared to analyst estimates of $155.33 million. DineEquity had a net margin of 13.02% and a return on equity of 38.34%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.59 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Monday, December 18th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 8.19%. The ex-dividend date of this dividend is Friday, December 15th. DineEquity’s payout ratio is currently 86.61%.
In other news, Director Msd Capital L. P acquired 39,689 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was acquired at an average cost of $39.23 per share, with a total value of $1,556,999.47. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.15% of the stock is currently owned by corporate insiders.
DineEquity, Inc, through its subsidiaries, owns and franchises the Applebee’s Neighborhood Grill & Bar (Applebee’s) concept in the bar and grill segment within the casual dining category of the restaurant industry, and owns, franchises and operates the International House of Pancakes (IHOP) concept in the family dining category of the restaurant industry.
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