New York State Teachers Retirement System Has $2,131,000 Position in DineEquity, Inc (NYSE:DIN)
New York State Teachers Retirement System held its position in shares of DineEquity, Inc (NYSE:DIN) during the first quarter, Holdings Channel reports. The fund owned 39,155 shares of the restaurant operator’s stock at the end of the first quarter. New York State Teachers Retirement System’s holdings in DineEquity were worth $2,131,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its position in shares of DineEquity by 87.5% in the first quarter. FMR LLC now owns 1,691,509 shares of the restaurant operator’s stock valued at $92,052,000 after buying an additional 789,603 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of DineEquity by 70.8% in the first quarter. Wells Fargo & Company MN now owns 755,593 shares of the restaurant operator’s stock valued at $41,120,000 after buying an additional 313,290 shares during the last quarter. Norges Bank purchased a new position in shares of DineEquity during the fourth quarter valued at $20,096,000. KBC Group NV purchased a new position in shares of DineEquity during the first quarter valued at $3,803,000. Finally, Engineers Gate Manager LP purchased a new position in shares of DineEquity during the first quarter valued at $3,108,000. 88.28% of the stock is owned by hedge funds and other institutional investors.
DineEquity, Inc (NYSE DIN) opened at 43.49 on Tuesday. The stock’s 50 day moving average is $46.46 and its 200-day moving average is $58.98. The firm has a market cap of $781.95 million, a P/E ratio of 9.14 and a beta of 0.41. DineEquity, Inc has a 1-year low of $42.01 and a 1-year high of $88.00.
DineEquity (NYSE:DIN) last announced its quarterly earnings data on Tuesday, May 2nd. The restaurant operator reported $1.22 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.02. DineEquity had a return on equity of 40.48% and a net margin of 13.85%. The firm had revenue of $156.17 million during the quarter, compared to analyst estimates of $158.77 million. Analysts forecast that DineEquity, Inc will post $4.82 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 7th. Shareholders of record on Monday, June 19th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $3.88 dividend on an annualized basis and a yield of 8.92%. DineEquity’s payout ratio is presently 81.68%.
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DIN has been the subject of several analyst reports. Nomura reissued a “hold” rating and issued a $55.00 target price on shares of DineEquity in a research note on Monday, April 17th. TheStreet downgraded shares of DineEquity from a “b-” rating to a “c” rating in a research note on Monday, March 20th. Vetr raised shares of DineEquity from a “buy” rating to a “strong-buy” rating and set a $61.82 target price for the company in a research note on Wednesday, May 3rd. Zacks Investment Research raised shares of DineEquity from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Finally, Instinet boosted their target price on shares of DineEquity from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, May 4th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $67.80.
In other DineEquity news, insider Darren M. Rebelez acquired 3,775 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was purchased at an average cost of $51.68 per share, for a total transaction of $195,092.00. Following the transaction, the insider now owns 32,824 shares of the company’s stock, valued at approximately $1,696,344.32. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen P. Joyce acquired 2,265 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were acquired at an average price of $44.07 per share, with a total value of $99,818.55. Following the completion of the transaction, the director now directly owns 5,488 shares in the company, valued at approximately $241,856.16. The disclosure for this purchase can be found here. Company insiders own 2.15% of the company’s stock.
DineEquity Company Profile
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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