Texas Permanent School Fund Corp Sells 274 Shares of Dine Brands Global, Inc. (NYSE:DIN)

Texas Permanent School Fund Corp reduced its position in shares of Dine Brands Global, Inc. (NYSE:DIN) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,786 shares of the restaurant operator’s stock after selling 274 shares during the period. Texas Permanent School Fund Corp’s holdings in Dine Brands Global were worth $800,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. American International Group Inc. raised its position in Dine Brands Global by 3.4% in the second quarter. American International Group Inc. now owns 8,403 shares of the restaurant operator’s stock worth $488,000 after acquiring an additional 276 shares during the period. Barclays PLC raised its position in Dine Brands Global by 49.4% in the second quarter. Barclays PLC now owns 22,103 shares of the restaurant operator’s stock worth $1,282,000 after acquiring an additional 7,313 shares during the period. Factorial Partners LLC bought a new stake in Dine Brands Global in the second quarter worth about $1,335,000. Strid Group LLC bought a new stake in Dine Brands Global in the second quarter worth about $794,000. Finally, Louisiana State Employees Retirement System raised its position in Dine Brands Global by 12.3% in the second quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the restaurant operator’s stock worth $476,000 after acquiring an additional 900 shares during the period. Institutional investors own 90.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on DIN. Barclays lowered their price objective on shares of Dine Brands Global from $64.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. Truist Financial lowered their price target on shares of Dine Brands Global from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. KeyCorp lowered their price target on shares of Dine Brands Global from $68.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 17th. UBS Group started coverage on shares of Dine Brands Global in a research report on Tuesday, September 5th. They issued a “buy” rating and a $68.00 price target on the stock. Finally, Piper Sandler lowered their price target on shares of Dine Brands Global from $59.00 to $49.00 and set a “neutral” rating on the stock in a research report on Thursday, November 2nd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Dine Brands Global presently has an average rating of “Moderate Buy” and a consensus price target of $58.33.

Dine Brands Global Trading Down 1.4 %

Shares of NYSE:DIN opened at $44.96 on Tuesday. The company has a 50 day moving average of $48.61 and a 200 day moving average of $55.58. The stock has a market cap of $694.18 million, a P/E ratio of 9.35 and a beta of 1.87. Dine Brands Global, Inc. has a 12 month low of $42.00 and a 12 month high of $82.43.

Dine Brands Global (NYSE:DIN) last issued its quarterly earnings data on Wednesday, November 1st. The restaurant operator reported $1.46 EPS for the quarter, beating the consensus estimate of $1.32 by $0.14. The company had revenue of $202.60 million during the quarter, compared to analysts’ expectations of $203.23 million. Dine Brands Global had a net margin of 9.07% and a negative return on equity of 36.00%. Dine Brands Global’s revenue for the quarter was down 13.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.66 earnings per share. On average, equities analysts forecast that Dine Brands Global, Inc. will post 6.41 earnings per share for the current fiscal year.

Dine Brands Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th were paid a $0.51 dividend. The ex-dividend date was Monday, September 18th. This represents a $2.04 dividend on an annualized basis and a yield of 4.54%. Dine Brands Global’s dividend payout ratio is presently 42.41%.

Insiders Place Their Bets

In related news, CFO Vance Yuwen Chang purchased 1,170 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was acquired at an average price of $43.32 per share, with a total value of $50,684.40. Following the purchase, the chief financial officer now directly owns 19,101 shares in the company, valued at $827,455.32. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Vance Yuwen Chang purchased 1,170 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was acquired at an average price of $43.32 per share, with a total value of $50,684.40. Following the purchase, the chief financial officer now directly owns 19,101 shares in the company, valued at $827,455.32. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John W. Peyton purchased 2,225 shares of the business’s stock in a transaction on Monday, November 6th. The stock was bought at an average cost of $44.97 per share, with a total value of $100,058.25. Following the purchase, the chief executive officer now owns 78,519 shares in the company, valued at $3,530,999.43. The disclosure for this purchase can be found here. Corporate insiders own 3.03% of the company’s stock.

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), Fuzzy's franchise operations, Rental Operations, Financing Operations, and Company-Operated Restaurant Operations.