Bank of New York Mellon Corp Makes New Investment in Dine Brands Global, Inc. $DIN

Key Points

• Bank of New York Mellon purchased 132,986 shares of Dine Brands Global, valued at approximately $4.77 million, giving it a 1.05% stake. Institutional investors collectively own 92.83% of the company.
• Analyst sentiment remains cautious: eight analysts rate DIN as a Hold and one rates it a Sell, resulting in a consensus rating of “Reduce” and an average price target of $32.83.
• Dine Brands reported quarterly revenue of $240.9 million, up 4.4% year over year, but earnings of $1.16 per share fell short of estimates. The company announced a quarterly dividend of $0.19, equivalent to a 2.4% annual yield.

Bank of New York Mellon Corp purchased a new position in Dine Brands Global, Inc. (NYSE:DIN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 132,986 shares of the restaurant operator's stock, valued at approximately $4,774,000. Bank of New York Mellon Corp owned about 1.05% of Dine Brands Global at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. AdvisorShares Investments LLC grew its position in Dine Brands Global by 8.2% in the fourth quarter. AdvisorShares Investments LLC now owns 3,758 shares of the restaurant operator's stock worth $121,000 after acquiring an additional 284 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Dine Brands Global by 8.8% in the fourth quarter. Quadrant Capital Group LLC now owns 3,821 shares of the restaurant operator's stock valued at $123,000 after acquiring an additional 309 shares during the last quarter. Russell Investments Group Ltd. raised its position in Dine Brands Global by 1.2% during the fourth quarter. Russell Investments Group Ltd. now owns 28,282 shares of the restaurant operator's stock valued at $909,000 after purchasing an additional 326 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in Dine Brands Global during the fourth quarter valued at about $26,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Dine Brands Global by 4.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,557 shares of the restaurant operator's stock worth $822,000 after purchasing an additional 1,010 shares during the last quarter. Hedge funds and other institutional investors own 92.83% of the company's stock.

Analyst Upgrades and Downgrades

DIN has been the subject of a number of recent research reports. Freedom Broker upgraded Dine Brands Global to a "hold" rating in a research report on Monday, August 24th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Dine Brands Global in a research report on Tuesday, June 9th. Piper Sandler lifted their price target on shares of Dine Brands Global from $28.00 to $37.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. Mizuho set a $38.00 price objective on shares of Dine Brands Global in a report on Thursday, August 6th. Finally, Zacks Research cut shares of Dine Brands Global from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 4th. Eight analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $32.83.

Dine Brands Global Price Performance

Shares of DIN stock opened at $31.65 on Friday. The business has a 50-day moving average of $35.04 and a 200 day moving average of $31.58. Dine Brands Global, Inc. has a 1-year low of $22.85 and a 1-year high of $39.68. The stock has a market capitalization of $400.69 million, a PE ratio of 67.34 and a beta of 0.94.

Dine Brands Global (NYSE:DIN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The restaurant operator reported $1.16 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.04). Dine Brands Global had a negative return on equity of 20.34% and a net margin of 0.75%.The company had revenue of $240.90 million during the quarter, compared to analysts' expectations of $237.28 million. During the same period last year, the firm earned $1.17 earnings per share. Dine Brands Global's revenue for the quarter was up 4.4% on a year-over-year basis. Analysts anticipate that Dine Brands Global, Inc. will post 4.28 EPS for the current year.

Dine Brands Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 16th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, September 16th. Dine Brands Global's payout ratio is presently 161.70%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source