Allspring Global Investments Holdings LLC Has $43.18 Million Stake in Dine Brands Global, Inc. (NYSE:DIN)

Allspring Global Investments Holdings LLC cut its stake in Dine Brands Global, Inc. (NYSE:DIN) by 23.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 929,078 shares of the restaurant operator’s stock after selling 292,392 shares during the period. Allspring Global Investments Holdings LLC owned approximately 6.01% of Dine Brands Global worth $43,184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Quarry LP boosted its position in shares of Dine Brands Global by 207.2% during the fourth quarter. Quarry LP now owns 725 shares of the restaurant operator’s stock worth $36,000 after buying an additional 489 shares during the period. Longfellow Investment Management Co. LLC bought a new position in shares of Dine Brands Global during the 4th quarter worth approximately $187,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Dine Brands Global by 127.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,254 shares of the restaurant operator’s stock valued at $211,000 after purchasing an additional 2,381 shares during the last quarter. Harbor Advisors LLC bought a new stake in shares of Dine Brands Global in the fourth quarter worth $223,000. Finally, Aigen Investment Management LP acquired a new position in Dine Brands Global during the fourth quarter worth $273,000. Institutional investors own 92.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. KeyCorp reduced their price objective on shares of Dine Brands Global from $57.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. Barclays lowered their price target on Dine Brands Global from $57.00 to $54.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Piper Sandler cut their price objective on Dine Brands Global from $49.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Wedbush lowered their target price on shares of Dine Brands Global from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. Finally, StockNews.com raised shares of Dine Brands Global from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Dine Brands Global has an average rating of “Moderate Buy” and an average price target of $58.57.

Dine Brands Global Price Performance

Shares of Dine Brands Global stock opened at $34.18 on Thursday. The business has a fifty day simple moving average of $40.02 and a two-hundred day simple moving average of $44.11. Dine Brands Global, Inc. has a 1 year low of $34.00 and a 1 year high of $60.98. The company has a market capitalization of $526.54 million, a price-to-earnings ratio of 6.08 and a beta of 1.74.

Dine Brands Global (NYSE:DIN) last posted its earnings results on Wednesday, May 8th. The restaurant operator reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.26). Dine Brands Global had a negative return on equity of 35.31% and a net margin of 10.59%. The company had revenue of $206.24 million for the quarter, compared to analyst estimates of $210.54 million. During the same quarter in the prior year, the business posted $1.97 EPS. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. As a group, equities analysts anticipate that Dine Brands Global, Inc. will post 6.18 earnings per share for the current fiscal year.

Dine Brands Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 5.97%. The ex-dividend date is Thursday, June 20th. Dine Brands Global’s payout ratio is 36.30%.

Dine Brands Global Company Profile

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.