DineEquity, Inc (DIN) Stake Lowered by California State Teachers Retirement System
California State Teachers Retirement System cut its holdings in DineEquity, Inc (NYSE:DIN) by 11.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,507 shares of the restaurant operator’s stock after selling 4,000 shares during the period. California State Teachers Retirement System owned 0.17% of DineEquity worth $1,344,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of DIN. BlackRock Inc. increased its stake in shares of DineEquity by 66,627.1% in the first quarter. BlackRock Inc. now owns 2,055,863 shares of the restaurant operator’s stock worth $111,881,000 after purchasing an additional 2,052,782 shares during the period. FMR LLC increased its stake in shares of DineEquity by 59.4% in the second quarter. FMR LLC now owns 2,697,013 shares of the restaurant operator’s stock worth $118,803,000 after purchasing an additional 1,005,504 shares during the period. EdgePoint Investment Group Inc. increased its stake in shares of DineEquity by 41.7% in the second quarter. EdgePoint Investment Group Inc. now owns 599,055 shares of the restaurant operator’s stock worth $26,388,000 after purchasing an additional 176,412 shares during the period. Wells Fargo & Company MN increased its stake in shares of DineEquity by 17.3% in the second quarter. Wells Fargo & Company MN now owns 886,539 shares of the restaurant operator’s stock worth $39,051,000 after purchasing an additional 130,946 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of DineEquity by 3.7% in the second quarter. Vanguard Group Inc. now owns 1,578,848 shares of the restaurant operator’s stock worth $69,548,000 after purchasing an additional 56,955 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.
In other DineEquity news, Director Larry Alan Kay sold 778 shares of DineEquity stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $45.14, for a total transaction of $35,118.92. Following the sale, the director now directly owns 8,513 shares of the company’s stock, valued at $384,276.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.15% of the company’s stock.
DineEquity (NYSE:DIN) last issued its quarterly earnings results on Thursday, November 9th. The restaurant operator reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.01. DineEquity had a positive return on equity of 64.43% and a negative net margin of 64.74%. The firm had revenue of $144.67 million for the quarter, compared to analyst estimates of $146.92 million. During the same period in the previous year, the company posted $1.46 earnings per share. The company’s quarterly revenue was down 7.3% compared to the same quarter last year. equities analysts anticipate that DineEquity, Inc will post 4.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Monday, December 18th will be paid a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, December 15th. This represents a $3.88 annualized dividend and a yield of 9.06%. DineEquity’s dividend payout ratio is -17.77%.
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A number of equities analysts have recently commented on the company. ValuEngine lowered DineEquity from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Maxim Group dropped their price objective on DineEquity from $77.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, August 8th. Zacks Investment Research lowered DineEquity from a “hold” rating to a “sell” rating in a research note on Monday, November 13th. TheStreet lowered DineEquity from a “c” rating to a “d+” rating in a research note on Friday, November 10th. Finally, BidaskClub upgraded DineEquity from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.64.
DineEquity, Inc, through its subsidiaries, owns and franchises the Applebee’s Neighborhood Grill & Bar (Applebee’s) concept in the bar and grill segment within the casual dining category of the restaurant industry, and owns, franchises and operates the International House of Pancakes (IHOP) concept in the family dining category of the restaurant industry.
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