Geode Capital Management LLC Grows Stock Holdings in Denny’s Co. (NASDAQ:DENN)

Geode Capital Management LLC grew its position in Denny’s Co. (NASDAQ:DENN) by 0.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,180,879 shares of the restaurant operator’s stock after buying an additional 3,902 shares during the period. Geode Capital Management LLC’s holdings in Denny’s were worth $7,618,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in Denny’s by 6.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,634,514 shares of the restaurant operator’s stock worth $55,693,000 after purchasing an additional 558,964 shares during the last quarter. First Eagle Investment Management LLC raised its stake in Denny’s by 14.1% in the second quarter. First Eagle Investment Management LLC now owns 1,258,827 shares of the restaurant operator’s stock valued at $8,938,000 after buying an additional 155,100 shares during the last quarter. Access Investment Management LLC purchased a new stake in Denny’s in the third quarter valued at about $1,387,000. Intech Investment Management LLC purchased a new stake in shares of Denny’s during the third quarter worth about $83,000. Finally, AQR Capital Management LLC increased its holdings in shares of Denny’s by 63.8% during the second quarter. AQR Capital Management LLC now owns 216,694 shares of the restaurant operator’s stock valued at $1,539,000 after acquiring an additional 84,371 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Denny’s Stock Up 3.6 %

Denny’s stock opened at $6.27 on Friday. The business’s 50-day moving average price is $6.38 and its 200 day moving average price is $6.47. The firm has a market cap of $321.83 million, a price-to-earnings ratio of 19.00, a price-to-earnings-growth ratio of 1.33 and a beta of 2.01. Denny’s Co. has a 52 week low of $5.37 and a 52 week high of $11.16.

Denny’s (NASDAQ:DENN) last posted its earnings results on Tuesday, October 22nd. The restaurant operator reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Denny’s had a net margin of 3.90% and a negative return on equity of 48.64%. The firm had revenue of $111.76 million for the quarter, compared to analysts’ expectations of $115.46 million. During the same period last year, the firm earned $0.17 earnings per share. Denny’s’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities analysts expect that Denny’s Co. will post 0.52 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on DENN. Wedbush dropped their target price on shares of Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Benchmark reduced their target price on Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, October 25th. StockNews.com raised Denny’s from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Oppenheimer decreased their target price on Denny’s from $10.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Citigroup upgraded shares of Denny’s from a “neutral” rating to a “buy” rating and increased their price target for the stock from $7.00 to $7.50 in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $7.70.

About Denny’s

Denny's Corporation, through its subsidiaries, owns and operates franchised full-service restaurant chains under the Denny's and Keke's Breakfast Cafe brands in the United States and internationally. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in July 2002.