Olstein Capital Management L.P. Increases Stake in DineEquity, Inc (DIN)
Olstein Capital Management L.P. raised its stake in DineEquity, Inc (NYSE:DIN) by 56.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,500 shares of the restaurant operator’s stock after buying an additional 27,540 shares during the period. Olstein Capital Management L.P.’s holdings in DineEquity were worth $3,370,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the company. LSV Asset Management purchased a new position in shares of DineEquity during the first quarter valued at about $957,000. Great West Life Assurance Co. Can boosted its position in shares of DineEquity by 6.7% in the first quarter. Great West Life Assurance Co. Can now owns 23,741 shares of the restaurant operator’s stock valued at $1,291,000 after buying an additional 1,482 shares during the period. Wells Fargo & Company MN boosted its position in shares of DineEquity by 70.8% in the first quarter. Wells Fargo & Company MN now owns 755,593 shares of the restaurant operator’s stock valued at $41,120,000 after buying an additional 313,290 shares during the period. Old Mutual Global Investors UK Ltd. boosted its position in shares of DineEquity by 47.0% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 12,450 shares of the restaurant operator’s stock valued at $677,000 after buying an additional 3,980 shares during the period. Finally, First Midwest Bank Trust Division boosted its position in shares of DineEquity by 2.8% in the first quarter. First Midwest Bank Trust Division now owns 6,273 shares of the restaurant operator’s stock valued at $341,000 after buying an additional 171 shares during the period. 88.63% of the stock is currently owned by institutional investors and hedge funds.
DineEquity, Inc (DIN) opened at 39.54 on Wednesday. The stock’s 50 day moving average is $41.81 and its 200 day moving average is $50.84. The stock has a market capitalization of $711.09 million, a PE ratio of 8.80 and a beta of 0.39. DineEquity, Inc has a 12-month low of $36.71 and a 12-month high of $88.00.
DineEquity (NYSE:DIN) last released its earnings results on Thursday, August 10th. The restaurant operator reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.10. The company had revenue of $155.20 million during the quarter, compared to analysts’ expectations of $155.33 million. DineEquity had a net margin of 13.02% and a return on equity of 38.34%. DineEquity’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period last year, the business earned $1.59 EPS. Equities analysts anticipate that DineEquity, Inc will post $4.38 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Monday, September 18th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 9.81%. The ex-dividend date of this dividend is Friday, September 15th. DineEquity’s dividend payout ratio (DPR) is presently 86.61%.
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Several research analysts have issued reports on the stock. Zacks Investment Research cut shares of DineEquity from a “buy” rating to a “hold” rating in a report on Monday. Maxim Group decreased their target price on shares of DineEquity from $77.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, August 8th. Raymond James Financial, Inc. reaffirmed 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, June 2nd. Finally, Instinet lifted their target price on shares of DineEquity from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, May 4th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. DineEquity currently has an average rating of “Buy” and a consensus target price of $56.47.
In related news, Director Stephen P. Joyce bought 2,265 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was bought at an average cost of $44.07 per share, for a total transaction of $99,818.55. Following the purchase, the director now directly owns 5,488 shares of the company’s stock, valued at $241,856.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.15% of the stock is owned by company insiders.
DineEquity Company Profile
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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