Principal Financial Group Inc. increased its stake in DineEquity Inc (NYSE:DIN) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,736 shares of the restaurant operator’s stock after buying an additional 7,184 shares during the quarter. Principal Financial Group Inc. owned approximately 0.75% of DineEquity worth $5,834,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DIN. Municipal Employees Retirement System of Michigan boosted its holdings in shares of DineEquity by 2.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,990 shares of the restaurant operator’s stock valued at $176,000 after buying an additional 100 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of DineEquity in the 3rd quarter valued at approximately $228,000. WBI Investments Inc. acquired a new stake in shares of DineEquity in the 2nd quarter valued at approximately $230,000. Oppenheimer & Co. Inc. acquired a new stake in shares of DineEquity in the 2nd quarter valued at approximately $244,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of DineEquity by 84.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,500 shares of the restaurant operator’s stock valued at $286,000 after buying an additional 2,973 shares during the last quarter. 92.83% of the stock is owned by institutional investors.
Several equities research analysts have issued reports on DIN shares. TheStreet downgraded DineEquity from a “c” rating to a “d+” rating in a report on Friday, November 10th. ValuEngine raised DineEquity from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research cut DineEquity from a “hold” rating to a “sell” rating in a research report on Monday, November 13th. Maxim Group increased their price objective on DineEquity from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, November 9th. They noted that the move was a valuation call. Finally, BidaskClub upgraded DineEquity from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $57.64.
DineEquity (NYSE:DIN) last released its quarterly earnings data on Thursday, November 9th. The restaurant operator reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.01. The business had revenue of $144.67 million for the quarter, compared to analyst estimates of $146.92 million. DineEquity had a positive return on equity of 64.43% and a negative net margin of 64.74%. DineEquity’s revenue was down 7.3% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. analysts expect that DineEquity Inc will post 4.06 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Monday, December 18th will be paid a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 7.68%. The ex-dividend date of this dividend is Friday, December 15th. DineEquity’s dividend payout ratio (DPR) is presently -17.77%.
In related news, Director Larry Alan Kay sold 778 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $45.14, for a total value of $35,118.92. Following the sale, the director now directly owns 8,513 shares of the company’s stock, valued at $384,276.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.15% of the company’s stock.
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DineEquity Company Profile
DineEquity, Inc, through its subsidiaries, owns and franchises the Applebee’s Neighborhood Grill & Bar (Applebee’s) concept in the bar and grill segment within the casual dining category of the restaurant industry, and owns, franchises and operates the International House of Pancakes (IHOP) concept in the family dining category of the restaurant industry.
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