Corebridge Financial Inc. Decreases Stock Holdings in Dine Brands Global, Inc. (NYSE:DIN)

Corebridge Financial Inc. cut its stake in Dine Brands Global, Inc. (NYSE:DIN) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,570 shares of the restaurant operator’s stock after selling 572 shares during the period. Corebridge Financial Inc.’s holdings in Dine Brands Global were worth $228,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Dine Brands Global by 26.9% in the third quarter. FMR LLC now owns 11,691 shares of the restaurant operator’s stock valued at $365,000 after buying an additional 2,479 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Dine Brands Global by 10.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 43,581 shares of the restaurant operator’s stock worth $1,361,000 after buying an additional 3,987 shares in the last quarter. Stifel Financial Corp acquired a new stake in Dine Brands Global in the 3rd quarter valued at about $786,000. Jane Street Group LLC increased its holdings in Dine Brands Global by 229.1% during the 3rd quarter. Jane Street Group LLC now owns 249,713 shares of the restaurant operator’s stock valued at $7,799,000 after acquiring an additional 173,831 shares in the last quarter. Finally, Barclays PLC increased its holdings in Dine Brands Global by 135.4% during the 3rd quarter. Barclays PLC now owns 35,946 shares of the restaurant operator’s stock valued at $1,123,000 after acquiring an additional 20,673 shares in the last quarter. 92.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on DIN. Barclays reduced their price target on shares of Dine Brands Global from $32.00 to $26.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Truist Financial lowered their target price on Dine Brands Global from $37.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, March 6th. KeyCorp cut their price target on Dine Brands Global from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Wedbush decreased their price objective on Dine Brands Global from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Finally, Sanford C. Bernstein set a $26.00 target price on shares of Dine Brands Global in a research note on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $29.00.

Dine Brands Global Stock Down 3.2 %

DIN stock opened at $19.68 on Friday. The stock has a market capitalization of $307.67 million, a price-to-earnings ratio of 3.27 and a beta of 1.44. Dine Brands Global, Inc. has a 52-week low of $18.63 and a 52-week high of $46.26. The stock’s fifty day simple moving average is $24.63 and its 200-day simple moving average is $29.00.

Dine Brands Global (NYSE:DIN) last issued its quarterly earnings results on Wednesday, March 5th. The restaurant operator reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.48). Dine Brands Global had a negative return on equity of 37.75% and a net margin of 11.31%. The business had revenue of $204.80 million during the quarter, compared to analyst estimates of $200.75 million. During the same period in the previous year, the business posted $1.40 earnings per share. The firm’s quarterly revenue was down .7% on a year-over-year basis. As a group, analysts anticipate that Dine Brands Global, Inc. will post 5.84 earnings per share for the current fiscal year.

Dine Brands Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were issued a $0.51 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $2.04 dividend on an annualized basis and a yield of 10.37%. Dine Brands Global’s payout ratio is 48.46%.

Dine Brands Global Profile

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