Dunkin’ Brands Group Inc. (DNKN) Sees Strong Trading Volume After Analyst Upgrade
Dunkin’ Brands Group Inc. (NASDAQ:DNKN) saw unusually-strong trading volume on Wednesday after Maxim Group raised their price target on the stock from $54.00 to $57.00. Maxim Group currently has a buy rating on the stock. Approximately 1,884,575 shares traded hands during mid-day trading, an increase of 64% from the previous session’s volume of 1,146,126 shares.The stock last traded at $50.40 and had previously closed at $50.31.
Other analysts have also issued reports about the company. Citigroup Inc. increased their price objective on Dunkin’ Brands Group from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, September 13th. Credit Suisse Group AG reiterated a “buy” rating on shares of Dunkin’ Brands Group in a report on Monday, July 18th. BMO Capital Markets reiterated a “hold” rating and set a $46.00 price objective on shares of Dunkin’ Brands Group in a report on Friday, July 22nd. BTIG Research reiterated a “neutral” rating on shares of Dunkin’ Brands Group in a report on Thursday, July 21st. Finally, Goldman Sachs Group Inc. increased their price objective on Dunkin’ Brands Group from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, July 20th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $48.02.
In other Dunkin’ Brands Group news, insider William M. Mitchell sold 5,648 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $45.87, for a total transaction of $259,073.76. Following the completion of the transaction, the insider now owns 5,648 shares in the company, valued at $259,073.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John H. Costello sold 12,782 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $45.15, for a total transaction of $577,107.30. Following the transaction, the insider now owns 19,671 shares of the company’s stock, valued at approximately $888,145.65. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Nomura Holdings Inc. acquired a new position in shares of Dunkin’ Brands Group during the second quarter worth approximately $425,000. Mason Street Advisors LLC purchased a new position in Dunkin’ Brands Group during the second quarter worth about $1,823,000. Royal Bank of Canada boosted its position in Dunkin’ Brands Group by 0.7% in the second quarter. Royal Bank of Canada now owns 216,770 shares of the company’s stock worth $9,457,000 after buying an additional 1,540 shares during the period. IFP Advisors Inc boosted its position in Dunkin’ Brands Group by 43.9% in the second quarter. IFP Advisors Inc now owns 2,663 shares of the company’s stock worth $116,000 after buying an additional 812 shares during the period. Finally, Calvert Investment Management Inc. boosted its position in Dunkin’ Brands Group by 6.5% in the second quarter. Calvert Investment Management Inc. now owns 5,557 shares of the company’s stock worth $242,000 after buying an additional 338 shares during the period. Hedge funds and other institutional investors own 97.42% of the company’s stock.
The stock’s 50-day moving average price is $48.49 and its 200-day moving average price is $46.48. The stock has a market capitalization of $4.63 billion, a P/E ratio of 38.31 and a beta of 0.17.
Dunkin’ Brands Group (NASDAQ:DNKN) last issued its earnings results on Thursday, July 21st. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. The company had revenue of $216.30 million for the quarter, compared to analysts’ expectations of $219.88 million. Dunkin’ Brands Group had a net margin of 15.13% and a negative return on equity of 106.20%. Dunkin’ Brands Group’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 EPS. On average, equities analysts forecast that Dunkin’ Brands Group Inc. will post $2.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Monday, August 22nd were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.38%. Dunkin’ Brands Group’s payout ratio is 90.91%.
Dunkin’ Brands Group Company Profile
Dunkin’ Brands Group, Inc is a franchisor of quick service restaurants (QSRs) serving hot and cold coffee and baked goods, as well as hard serve ice cream. The Company franchises restaurants under its Dunkin’ Donuts and Baskin-Robbins brands. The Company operates its business through four segments, which include Dunkin’ Donuts-U.S., Dunkin’ Donuts International, Baskin-Robbins International and Baskin-Robbins-U.S.
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