Allspring Global Investments Holdings LLC reduced its position in Dine Brands Global, Inc. (NYSE:DIN – Free Report) by 23.9% during the first quarter, HoldingsChannel reports. The fund owned 929,078 shares of the restaurant operator’s stock after selling 292,392 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.06% of Dine Brands Global worth $43,184,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Quarry LP raised its position in shares of Dine Brands Global by 207.2% in the fourth quarter. Quarry LP now owns 725 shares of the restaurant operator’s stock valued at $36,000 after purchasing an additional 489 shares during the period. Longfellow Investment Management Co. LLC purchased a new position in Dine Brands Global in the 4th quarter valued at approximately $187,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Dine Brands Global by 127.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,254 shares of the restaurant operator’s stock valued at $211,000 after acquiring an additional 2,381 shares during the period. Harbor Advisors LLC purchased a new stake in shares of Dine Brands Global during the fourth quarter worth $223,000. Finally, Aigen Investment Management LP purchased a new position in shares of Dine Brands Global in the fourth quarter valued at $273,000. 92.83% of the stock is owned by hedge funds and other institutional investors.
Dine Brands Global Price Performance
Shares of Dine Brands Global stock opened at $34.18 on Thursday. The company has a 50 day simple moving average of $40.02 and a two-hundred day simple moving average of $44.11. The firm has a market cap of $526.54 million, a PE ratio of 6.08 and a beta of 1.74. Dine Brands Global, Inc. has a 1 year low of $34.00 and a 1 year high of $60.98.
Dine Brands Global Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be issued a $0.51 dividend. The ex-dividend date is Thursday, June 20th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.97%. Dine Brands Global’s payout ratio is 36.30%.
Analysts Set New Price Targets
Several research analysts have commented on DIN shares. StockNews.com upgraded Dine Brands Global from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Wedbush cut their price objective on shares of Dine Brands Global from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Barclays decreased their target price on shares of Dine Brands Global from $57.00 to $54.00 and set an “overweight” rating on the stock in a report on Thursday, May 9th. Piper Sandler cut their price target on shares of Dine Brands Global from $49.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Finally, KeyCorp decreased their price target on shares of Dine Brands Global from $57.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $58.57.
View Our Latest Report on Dine Brands Global
About Dine Brands Global
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.
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