Dine Brands Global, Inc. (NYSE:DIN) Shares Sold by State Street Corp

State Street Corp lowered its holdings in Dine Brands Global, Inc. (NYSE:DIN) by 38.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 354,796 shares of the restaurant operator’s stock after selling 220,897 shares during the quarter. State Street Corp owned about 2.33% of Dine Brands Global worth $11,257,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in DIN. Bank of New York Mellon Corp boosted its holdings in Dine Brands Global by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 233,464 shares of the restaurant operator’s stock valued at $8,451,000 after purchasing an additional 4,427 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Dine Brands Global by 30.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,221 shares of the restaurant operator’s stock worth $117,000 after buying an additional 746 shares during the last quarter. WBI Investments LLC acquired a new position in shares of Dine Brands Global in the 2nd quarter valued at $2,624,000. Summit Financial LLC purchased a new position in shares of Dine Brands Global in the 2nd quarter valued at $232,000. Finally, Rhumbline Advisers raised its stake in Dine Brands Global by 7.3% during the 2nd quarter. Rhumbline Advisers now owns 49,652 shares of the restaurant operator’s stock worth $1,797,000 after acquiring an additional 3,388 shares in the last quarter. Institutional investors and hedge funds own 92.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on DIN. Barclays upped their price objective on shares of Dine Brands Global from $38.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Truist Financial reissued a “hold” rating and issued a $37.00 target price (down from $66.00) on shares of Dine Brands Global in a research report on Friday, October 4th. Wedbush reaffirmed an “outperform” rating and set a $47.00 price target on shares of Dine Brands Global in a research report on Friday, November 15th. StockNews.com downgraded Dine Brands Global from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, Benchmark reaffirmed a “hold” rating on shares of Dine Brands Global in a report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.71.

Dine Brands Global Trading Up 1.3 %

NYSE:DIN opened at $29.92 on Thursday. The stock’s 50 day simple moving average is $32.47 and its 200-day simple moving average is $32.80. Dine Brands Global, Inc. has a 12-month low of $28.25 and a 12-month high of $51.35. The firm has a market cap of $456.16 million, a P/E ratio of 4.98 and a beta of 1.73.

Dine Brands Global (NYSE:DIN) last announced its quarterly earnings data on Wednesday, November 6th. The restaurant operator reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.10. The company had revenue of $195.00 million for the quarter, compared to analysts’ expectations of $198.40 million. Dine Brands Global had a net margin of 11.31% and a negative return on equity of 37.75%. Dine Brands Global’s revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 EPS. Research analysts forecast that Dine Brands Global, Inc. will post 5.84 EPS for the current fiscal year.

Dine Brands Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Friday, December 20th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $2.04 annualized dividend and a dividend yield of 6.82%. Dine Brands Global’s payout ratio is currently 33.94%.

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.