State Street Corp Raises Stock Position in Denny’s Co. (NASDAQ:DENN)

State Street Corp grew its holdings in shares of Denny’s Co. (NASDAQ:DENN) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,175,986 shares of the restaurant operator’s stock after buying an additional 3,142 shares during the quarter. State Street Corp owned 2.29% of Denny’s worth $7,585,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its position in Denny’s by 8.7% during the second quarter. The Manufacturers Life Insurance Company now owns 21,130 shares of the restaurant operator’s stock valued at $150,000 after purchasing an additional 1,694 shares during the period. Creative Planning increased its position in shares of Denny’s by 6.4% during the 3rd quarter. Creative Planning now owns 37,669 shares of the restaurant operator’s stock valued at $243,000 after purchasing an additional 2,273 shares during the last quarter. Quarry LP increased its position in shares of Denny’s by 161.5% during the 2nd quarter. Quarry LP now owns 4,237 shares of the restaurant operator’s stock valued at $30,000 after purchasing an additional 2,617 shares during the last quarter. Rice Hall James & Associates LLC raised its holdings in Denny’s by 3.8% during the 2nd quarter. Rice Hall James & Associates LLC now owns 76,010 shares of the restaurant operator’s stock valued at $540,000 after buying an additional 2,775 shares during the period. Finally, Quest Partners LLC bought a new stake in Denny’s in the second quarter worth $25,000. Institutional investors own 85.07% of the company’s stock.

Denny’s Price Performance

Shares of DENN stock opened at $6.09 on Friday. The company’s 50-day simple moving average is $6.36 and its two-hundred day simple moving average is $6.49. Denny’s Co. has a one year low of $5.37 and a one year high of $11.16. The company has a market capitalization of $312.59 million, a P/E ratio of 18.45, a P/E/G ratio of 1.33 and a beta of 2.01.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings data on Tuesday, October 22nd. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $111.76 million during the quarter, compared to the consensus estimate of $115.46 million. Denny’s had a negative return on equity of 48.64% and a net margin of 3.90%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.17 EPS. On average, research analysts expect that Denny’s Co. will post 0.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citigroup upgraded shares of Denny’s from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $7.00 to $7.50 in a research report on Friday, October 25th. StockNews.com raised shares of Denny’s from a “hold” rating to a “buy” rating in a research report on Tuesday. Truist Financial dropped their target price on Denny’s from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Benchmark reduced their price target on Denny’s from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Wedbush dropped their price objective on Denny’s from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.70.

About Denny’s

Denny's Corporation, through its subsidiaries, owns and operates franchised full-service restaurant chains under the Denny's and Keke's Breakfast Cafe brands in the United States and internationally. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in July 2002.