Cibc World Market Inc. Increases Position in Dine Brands Global, Inc. $DIN

Key Points

• CIBC World Market Inc. increased its stake in Dine Brands Global by 14% in the fourth quarter, ending with 821,184 shares worth about $26.4 million and representing roughly 5.69% of the company.
• Wall Street sentiment remains cautious: several analysts cut price targets or reiterated neutral/hold views, and the stock’s consensus rating is currently Hold with an average price target of $30.40.
• Dine Brands reported quarterly EPS of $0.88, below estimates, though revenue came in above expectations at $225.2 million; the company also declared a quarterly dividend of $0.19 per share, implying a 2.6% annual yield.

Cibc World Market Inc. lifted its stake in Dine Brands Global, Inc. (NYSE:DIN - Free Report) by 14.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 821,184 shares of the restaurant operator's stock after purchasing an additional 101,054 shares during the period. Cibc World Market Inc. owned approximately 5.69% of Dine Brands Global worth $26,393,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DIN. Royal Bank of Canada boosted its stake in shares of Dine Brands Global by 10.7% during the 1st quarter. Royal Bank of Canada now owns 71,451 shares of the restaurant operator's stock worth $1,662,000 after acquiring an additional 6,908 shares in the last quarter. Millennium Management LLC increased its stake in Dine Brands Global by 51.2% in the 1st quarter. Millennium Management LLC now owns 507,801 shares of the restaurant operator's stock valued at $11,817,000 after purchasing an additional 172,013 shares in the last quarter. Invesco Ltd. raised its holdings in Dine Brands Global by 16.3% during the second quarter. Invesco Ltd. now owns 65,821 shares of the restaurant operator's stock worth $1,601,000 after purchasing an additional 9,226 shares during the last quarter. Jump Financial LLC purchased a new stake in Dine Brands Global during the second quarter worth $921,000. Finally, Gamco Investors INC. ET AL acquired a new stake in Dine Brands Global in the second quarter valued at $747,000. 92.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on DIN shares. Barclays dropped 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. UBS Group lowered their price objective on shares of Dine Brands Global from $35.00 to $33.00 and set a "neutral" rating on the stock in a research note on Thursday, February 26th. Zacks Research upgraded shares of Dine Brands Global from a "strong sell" rating to a "hold" rating in a report on Thursday, April 2nd. KeyCorp restated a "sector weight" rating on shares of Dine Brands Global in a research report on Thursday, April 2nd. Finally, Mizuho reduced their price target on shares of Dine Brands Global from $34.00 to $30.00 and set a "neutral" rating on the stock in a report on Thursday, April 2nd. Seven investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $30.40.

Insiders Place Their Bets

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 value of $51,984.00. Following the transaction, the director owned 9,315 shares in the company, valued at approximately $269,017.20. This trade represents a 16.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Douglas M. Pasquale purchased 2,000 shares of the stock in a transaction on Thursday, March 12th. The shares were purchased at an average cost of $28.25 per share, with a total value of $56,500.00. Following the transaction, the director owned 31,469 shares of the company's stock, valued at $888,999.25. This trade represents a 6.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 4,500 shares of company stock worth $128,250. 6.73% of the stock is owned by company insiders.

Dine Brands Global Trading Up 1.3%

Shares of NYSE:DIN opened at $29.10 on Friday. The firm has a market cap of $369.22 million, a price-to-earnings ratio of 28.81 and a beta of 0.97. The stock's 50-day moving average price is $28.36 and its two-hundred day moving average price is $31.13. Dine Brands Global, Inc. has a 12-month low of $19.58 and a 12-month high of $39.68.

Dine Brands Global (NYSE:DIN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The restaurant operator reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.12). Dine Brands Global had a negative return on equity of 23.28% and a net margin of 1.77%.The company had revenue of $225.20 million for the quarter, compared to analysts' expectations of $222.08 million. During the same quarter in the previous year, the company earned $1.03 earnings per share. The company's revenue was up 4.8% on a year-over-year basis. As a group, research analysts forecast that Dine Brands Global, Inc. will post 4.62 earnings per share for the current fiscal year.

Dine Brands Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Wednesday, June 24th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $0.76 dividend on an annualized basis and a yield of 2.6%. Dine Brands Global's dividend payout ratio (DPR) is currently 75.25%.

About Dine Brands Global

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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