Arrowstreet Capital Limited Partnership Sells 48,596 Shares of Dine Brands Global, Inc. $DIN

Key Points

• Arrowstreet Capital reduced its Dine Brands Global stake by 22.4%, selling 48,596 shares during the first quarter and retaining 167,924 shares worth approximately $4.4 million. Institutional investors and hedge funds collectively own 92.83% of DIN.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating from seven analysts and an average price target of $31.60. Recent targets include Mizuho at $36 and Barclays at $28.
• Dine Brands reported quarterly EPS of $0.88, below the $1.00 consensus estimate, although revenue rose 4.8% year over year to $225.2 million. The company continues to pay a quarterly dividend of $0.19, equivalent to a 2.1% yield.

Arrowstreet Capital Limited Partnership trimmed its holdings in Dine Brands Global, Inc. (NYSE:DIN - Free Report) by 22.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,924 shares of the restaurant operator's stock after selling 48,596 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.32% of Dine Brands Global worth $4,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. Garton & Associates Financial Advisors LLC acquired a new position in Dine Brands Global in the fourth quarter valued at approximately $26,000. Advisory Services Network LLC bought a new position in Dine Brands Global during the third quarter worth $27,000. Financial Management Professionals Inc. grew its holdings in Dine Brands Global by 45.4% in the fourth quarter. Financial Management Professionals Inc. now owns 1,044 shares of the restaurant operator's stock worth $34,000 after purchasing an additional 326 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Dine Brands Global in the third quarter worth $50,000. Finally, Tower Research Capital LLC TRC increased its stake in Dine Brands Global by 307.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,091 shares of the restaurant operator's stock valued at $51,000 after purchasing an additional 1,578 shares in the last quarter. Institutional investors and hedge funds own 92.83% of the company's stock.

Wall Street Analyst Weigh In

DIN has been the subject of several recent research reports. Mizuho boosted their price objective on Dine Brands Global from $30.00 to $36.00 and gave the company a "neutral" rating in a report on Friday. Barclays decreased their price target on Dine Brands Global from $30.00 to $28.00 and set an "equal weight" rating for the company in a research report on Thursday, May 7th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Dine Brands Global in a report on Tuesday, June 9th. Seven investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $31.60.

Dine Brands Global Stock Down 0.0%

Shares of DIN opened at $35.93 on Tuesday. Dine Brands Global, Inc. has a twelve month low of $19.58 and a twelve month high of $39.68. The stock has a market cap of $455.77 million, a PE ratio of 35.57 and a beta of 0.95. The business's 50-day moving average price is $33.91 and its 200-day moving average price is $31.71.

Dine Brands Global (NYSE:DIN - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The restaurant operator reported $0.88 EPS for the quarter, missing analysts' consensus estimates of $1.00 by ($0.12). Dine Brands Global had a net margin of 1.77% and a negative return on equity of 23.28%. The firm had revenue of $225.20 million during the quarter, compared to the consensus estimate of $222.08 million. During the same quarter last year, the business posted $1.03 earnings per share. Dine Brands Global's revenue was up 4.8% compared to the same quarter last year. Analysts expect that Dine Brands Global, Inc. will post 4.2 earnings per share for the current fiscal year.

Dine Brands Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Wednesday, June 24th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Wednesday, June 24th. Dine Brands Global's dividend payout ratio (DPR) is 75.25%.

Insider Activity

In related news, Director Michael Hyter sold 1,800 shares of Dine Brands Global stock in a transaction on Friday, May 8th. The stock was sold at an average price of $28.88, for a total transaction of $51,984.00. Following the completion of the sale, the director owned 9,315 shares of the company's stock, valued at approximately $269,017.20. This trade represents a 16.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.73% of the company's stock.

Dine Brands Global Profile

Dine Brands Global, Inc is a leading franchisor and operator of full‐service restaurants in the casual dining and breakfast segments. The company's primary brands include IHOP®, known for its wide variety of breakfast offerings and pancakes, and Applebee's Neighborhood Grill + Bar®, a casual dining concept featuring a range of American entrées, appetizers and cocktails. Through its franchise model, Dine Brands works with independent restaurant owners to develop, market and support both domestic and international locations.

The origins of Dine Brands Global date back to the founding of the International House of Pancakes (IHOP) in 1958 in California.

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