Envestnet Asset Management Inc. Increases Stake in DineEquity Inc (DIN)
Envestnet Asset Management Inc. boosted its position in DineEquity Inc (NYSE:DIN) by 5.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,852 shares of the company’s stock after buying an additional 302 shares during the period. Envestnet Asset Management Inc.’s holdings in DineEquity were worth $451,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. Capital Research Global Investors increased its stake in DineEquity by 2.7% in the third quarter. Capital Research Global Investors now owns 1,901,520 shares of the company’s stock worth $150,581,000 after buying an additional 50,000 shares in the last quarter. BlackRock Fund Advisors increased its stake in DineEquity by 11.1% in the third quarter. BlackRock Fund Advisors now owns 1,212,623 shares of the company’s stock worth $96,028,000 after buying an additional 121,438 shares in the last quarter. Burgundy Asset Management Ltd. increased its stake in DineEquity by 23.0% in the fourth quarter. Burgundy Asset Management Ltd. now owns 801,266 shares of the company’s stock worth $61,697,000 after buying an additional 150,006 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in DineEquity by 6.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 448,750 shares of the company’s stock worth $35,537,000 after buying an additional 25,431 shares in the last quarter. Finally, State Street Corp increased its stake in DineEquity by 9.7% in the fourth quarter. State Street Corp now owns 398,481 shares of the company’s stock worth $30,685,000 after buying an additional 35,394 shares in the last quarter. 96.85% of the stock is currently owned by institutional investors.
Shares of DineEquity Inc (NYSE:DIN) opened at 52.11 on Tuesday. DineEquity Inc has a 12 month low of $51.83 and a 12 month high of $95.25. The firm has a market capitalization of $929.90 million, a price-to-earnings ratio of 9.78 and a beta of 0.45. The stock’s 50 day moving average price is $60.83 and its 200-day moving average price is $74.77.
DineEquity (NYSE:DIN) last issued its earnings results on Wednesday, March 1st. The company reported $1.37 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.37. DineEquity had a return on equity of 44.00% and a net margin of 15.67%. The business earned $154.20 million during the quarter, compared to analysts’ expectations of $159.47 million. During the same period in the prior year, the firm posted $1.59 EPS. DineEquity’s quarterly revenue was down 10.0% compared to the same quarter last year. On average, equities research analysts predict that DineEquity Inc will post $4.98 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 7th. Stockholders of record on Monday, March 20th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.45%. DineEquity’s payout ratio is presently 70.55%.
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DIN has been the topic of a number of research reports. CL King raised DineEquity from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Monday, March 6th. Zacks Investment Research downgraded DineEquity from a “hold” rating to a “sell” rating in a research note on Monday, January 23rd. Maxim Group dropped their price objective on DineEquity from $94.00 to $84.00 and set a “buy” rating on the stock in a research note on Tuesday, February 21st. Citigroup Inc downgraded DineEquity to a “market perform” rating in a research note on Friday, February 17th. Finally, Instinet dropped their price objective on DineEquity from $77.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $77.17.
In other news, SVP John Jakubek sold 34,316 shares of the stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $74.39, for a total value of $2,552,767.24. Following the completion of the transaction, the senior vice president now directly owns 13,956 shares of the company’s stock, valued at approximately $1,038,186.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Richard J. Dahl bought 2,000 shares of the company’s stock in a transaction dated Friday, March 3rd. The stock was bought at an average cost of $52.30 per share, with a total value of $104,600.00. Following the completion of the acquisition, the chairman now owns 1,381 shares in the company, valued at approximately $72,226.30. The disclosure for this purchase can be found here. Corporate insiders own 3.55% of the company’s stock.
DineEquity Company Profile
DineEquity, Inc, together with 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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