Royal Bank of Canada Has $847,000 Stock Position in Dine Brands Global, Inc. $DIN

Key Points

• Royal Bank of Canada cut its Dine Brands Global stake by 47.3% in the first quarter, selling 28,986 shares and retaining 32,288 shares valued at approximately $847,000.
• Institutional investors and hedge funds own 92.83% of Dine Brands, with Millennium Management increasing its position by 51.2% and several other firms initiating new stakes.
• Dine Brands reported quarterly revenue of $240.9 million, up 4.4% year over year, but earnings per share of $1.16 fell short of estimates. Analysts maintain a generally cautious view, with an average “Reduce” rating and a $32.83 price target.

Royal Bank of Canada reduced its stake in Dine Brands Global, Inc. (NYSE:DIN - Free Report) by 47.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,288 shares of the restaurant operator's stock after selling 28,986 shares during the period. Royal Bank of Canada owned approximately 0.25% of Dine Brands Global worth $847,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Dine Brands Global during the 4th quarter worth approximately $9,099,000. Millennium Management LLC grew its position in Dine Brands Global by 51.2% in the first quarter. Millennium Management LLC now owns 507,801 shares of the restaurant operator's stock valued at $11,817,000 after acquiring an additional 172,013 shares during the period. Nomura Holdings Inc. acquired a new position in Dine Brands Global during the third quarter worth $4,175,000. 4D Advisors LLC bought a new position in shares of Dine Brands Global during the fourth quarter valued at $4,339,000. Finally, Cibc World Markets Corp bought a new position in shares of Dine Brands Global during the fourth quarter valued at $3,567,000. 92.83% of the stock is owned by institutional investors and hedge funds.

Dine Brands Global Stock Performance

Dine Brands Global stock opened at $35.86 on Friday. The business's fifty day moving average is $35.07 and its two-hundred day moving average is $31.66. The firm has a market cap of $453.99 million, a P/E ratio of 76.30 and a beta of 0.96. Dine Brands Global, Inc. has a 52 week low of $21.85 and a 52 week high of $39.68.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Barclays lowered their target price on shares of Dine Brands Global from $30.00 to $28.00 and set an "equal weight" rating on the stock in a report on Thursday, May 7th. Zacks Research downgraded shares of Dine Brands Global from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 4th. Mizuho set a $38.00 price target on shares of Dine Brands Global in a research report on Thursday, August 6th. Benchmark reaffirmed a "hold" rating on shares of Dine Brands Global in a research note on Monday, August 10th. Finally, Piper Sandler raised their price objective on shares of Dine Brands Global from $28.00 to $37.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Seven investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $32.83.

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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