Dunkin Brands Group (DNKN) Upgraded to Outperform by BMO Capital Markets
BMO Capital Markets upgraded shares of Dunkin Brands Group (NASDAQ:DNKN) from a market perform rating to an outperform rating in a research note released on Monday. BMO Capital Markets currently has $69.00 price target on the restaurant operator’s stock.
Several other research firms also recently weighed in on DNKN. Piper Jaffray Companies raised their price target on Dunkin Brands Group from $55.00 to $59.00 and gave the stock a neutral rating in a research report on Monday, January 29th. Zacks Investment Research raised Dunkin Brands Group from a hold rating to a buy rating and set a $74.00 price objective for the company in a research report on Thursday, January 4th. Nomura lifted their price objective on Dunkin Brands Group from $52.00 to $55.00 and gave the company a neutral rating in a research report on Tuesday, January 30th. Jefferies Group raised Dunkin Brands Group from an underperform rating to a hold rating and lifted their price objective for the company from $48.00 to $56.00 in a research report on Friday, December 22nd. Finally, William Blair raised Dunkin Brands Group from a market perform rating to an outperform rating in a research report on Monday, January 22nd. Three analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $62.76.
Dunkin Brands Group (DNKN) opened at $61.33 on Monday. The company has a current ratio of 2.79, a quick ratio of 1.43 and a debt-to-equity ratio of 361.71. The firm has a market capitalization of $5,540.00, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 1.61 and a beta of 0.21. Dunkin Brands Group has a 1 year low of $50.89 and a 1 year high of $68.45.
Dunkin Brands Group announced that its board has initiated a share buyback plan on Thursday, October 26th that permits the company to buyback $650.00 million in shares. This buyback authorization permits the restaurant operator to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Monday, March 12th will be given a dividend of $0.3475 per share. This represents a $1.39 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Friday, March 9th. This is an increase from Dunkin Brands Group’s previous quarterly dividend of $0.32. Dunkin Brands Group’s payout ratio is 33.86%.
A number of hedge funds have recently bought and sold shares of DNKN. Vaughan Nelson Investment Management L.P. purchased a new stake in Dunkin Brands Group during the third quarter valued at about $43,085,000. HS Management Partners LLC purchased a new stake in Dunkin Brands Group during the third quarter valued at about $17,590,000. State of New Jersey Common Pension Fund D grew its position in Dunkin Brands Group by 60.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 640,000 shares of the restaurant operator’s stock valued at $33,971,000 after acquiring an additional 240,000 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in Dunkin Brands Group during the fourth quarter valued at about $13,251,000. Finally, Quantitative Investment Management LLC purchased a new stake in Dunkin Brands Group during the fourth quarter valued at about $9,973,000. 90.57% of the stock is owned by hedge funds and other institutional investors.
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 through four segments: Dunkin’ Donuts-U.S., Dunkin’ Donuts International, Baskin-Robbins International and Baskin-Robbins-U.S.
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