New York State Teachers Retirement System Trims Holdings in DineEquity, Inc (DIN)
New York State Teachers Retirement System lessened its position in DineEquity, Inc (NYSE:DIN) by 4.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 37,555 shares of the restaurant operator’s stock after selling 1,600 shares during the period. New York State Teachers Retirement System owned approximately 0.21% of DineEquity worth $1,614,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Conning Inc. acquired a new stake in DineEquity in the third quarter valued at approximately $439,000. Victory Capital Management Inc. boosted its position in shares of DineEquity by 18.6% during the third quarter. Victory Capital Management Inc. now owns 15,068 shares of the restaurant operator’s stock valued at $648,000 after buying an additional 2,364 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of DineEquity during the third quarter valued at approximately $228,000. Aperio Group LLC boosted its position in shares of DineEquity by 160.7% during the third quarter. Aperio Group LLC now owns 43,440 shares of the restaurant operator’s stock valued at $1,867,000 after buying an additional 26,780 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of DineEquity by 18.5% during the third quarter. First Trust Advisors LP now owns 29,656 shares of the restaurant operator’s stock valued at $1,275,000 after buying an additional 4,625 shares during the last quarter. 92.12% of the stock is owned by hedge funds and other institutional investors.
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DineEquity, Inc (NYSE:DIN) opened at $46.63 on Monday. The firm has a market capitalization of $838.79, a price-to-earnings ratio of 9.71 and a beta of 0.52. The company has a debt-to-equity ratio of -6.40, a current ratio of 1.39 and a quick ratio of 1.39. DineEquity, Inc has a 1 year low of $36.71 and a 1 year high of $88.00.
DineEquity (NYSE:DIN) last issued its earnings results on Thursday, November 9th. The restaurant operator reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.01. The firm had revenue of $144.67 million for the quarter, compared to analyst estimates of $146.92 million. DineEquity had a positive return on equity of 64.43% and a negative net margin of 64.74%. The business’s revenue was down 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.46 earnings per share. equities analysts expect that DineEquity, Inc will post 4.15 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Monday, December 18th will be paid a $0.97 dividend. The ex-dividend date is Friday, December 15th. This represents a $3.88 annualized dividend and a dividend yield of 8.32%. DineEquity’s payout ratio is presently -17.77%.
In other news, Director Msd Capital L. P bought 39,689 shares of the stock in a transaction on Wednesday, August 16th. The shares were purchased at an average cost of $39.23 per share, for a total transaction of $1,556,999.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.15% of the company’s stock.
Several brokerages recently issued reports on DIN. Maxim Group reaffirmed a “buy” rating and set a $55.00 target price on shares of DineEquity in a research report on Monday, October 30th. Zacks Investment Research raised DineEquity from a “strong sell” rating to a “hold” rating in a research report on Monday, October 16th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of DineEquity in a research report on Monday, July 24th. BidaskClub raised DineEquity from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 19th. Finally, ValuEngine cut DineEquity from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. DineEquity currently has an average rating of “Hold” and an average price target of $57.64.
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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