Bank of New York Mellon Corp Sells 18,070 Shares of Dine Brands Global, Inc. (NYSE:DIN)

Key Points

• Bank of New York Mellon Corp has decreased its holdings in Dine Brands Global, selling 18,070 shares, representing a 10.6% reduction in its position during the first quarter.
• Dine Brands Global's recent earnings report showed earnings per share of $1.03, which fell short of analyst expectations, alongside a 4.1% revenue increase year over year.
• The company announced a quarterly dividend of $0.51, equating to an annualized dividend of $2.04 and an impressive yield of 8.32%.

Bank of New York Mellon Corp reduced its position in shares of Dine Brands Global, Inc. (NYSE:DIN - Free Report) by 10.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,563 shares of the restaurant operator's stock after selling 18,070 shares during the period. Bank of New York Mellon Corp owned approximately 0.98% of Dine Brands Global worth $3,550,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Schonfeld Strategic Advisors LLC grew its position in Dine Brands Global by 691.0% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 290,403 shares of the restaurant operator's stock worth $8,741,000 after acquiring an additional 253,688 shares during the last quarter. Seven Six Capital Management LLC bought a new position in shares of Dine Brands Global during the fourth quarter valued at $5,475,000. Trexquant Investment LP acquired a new stake in Dine Brands Global in the fourth quarter valued at $2,780,000. Lazard Asset Management LLC grew its position in shares of Dine Brands Global by 628.1% in the 4th quarter. Lazard Asset Management LLC now owns 103,827 shares of the restaurant operator's stock valued at $3,124,000 after buying an additional 89,567 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Dine Brands Global by 14.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 601,470 shares of the restaurant operator's stock valued at $18,104,000 after acquiring an additional 74,387 shares during the last quarter. Institutional investors and hedge funds own 92.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DIN. KeyCorp increased their price target on Dine Brands Global from $26.00 to $30.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Truist Financial lowered their target price on Dine Brands Global from $27.00 to $23.00 and set a "hold" rating on the stock in a research report on Thursday, May 8th. Barclays lifted their price objective on shares of Dine Brands Global from $21.00 to $24.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Finally, UBS Group decreased their price objective on Dine Brands Global from $25.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $26.86.

Dine Brands Global Stock Down 1.3%

DIN traded down $0.30 during trading hours on Wednesday, hitting $22.75. The stock had a trading volume of 302,536 shares, compared to its average volume of 323,388. Dine Brands Global, Inc. has a 1 year low of $18.63 and a 1 year high of $37.44. The company's fifty day simple moving average is $25.06 and its 200 day simple moving average is $24.72. The stock has a market cap of $355.58 million, a PE ratio of 6.30 and a beta of 1.18.

Dine Brands Global (NYSE:DIN - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The restaurant operator reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates of $1.18 by ($0.15). Dine Brands Global had a net margin of 6.69% and a negative return on equity of 34.70%. The business had revenue of $214.78 million during the quarter, compared to analysts' expectations of $216.19 million. During the same quarter in the prior year, the firm posted $1.33 earnings per share. The firm's quarterly revenue was up 4.1% on a year-over-year basis. As a group, equities analysts expect that Dine Brands Global, Inc. will post 5.84 EPS for the current year.

Dine Brands Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Friday, June 20th were given a $0.51 dividend. The ex-dividend date was Friday, June 20th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 8.97%. Dine Brands Global's dividend payout ratio (DPR) is currently 56.51%.

Dine Brands Global Profile

Dine Brands Global, Inc, together with its subsidiaries, owns, franchises, and operates restaurants in the United States and internationally. The company operates through six segments: Applebee's Franchise Operations, International House of Pancakes (IHOP) Franchise Solutions, Fuzzy's franchise operations, Rental Operations, Financing Operations, and Company-Operated Restaurant Operations.