Texas Permanent School Fund Decreases Position in DineEquity, Inc (DIN)

Texas Permanent School Fund reduced its stake in shares of DineEquity, Inc (NYSE:DIN) by 2.1% during the first quarter, Holdings Channel reports. The institutional investor owned 12,145 shares of the restaurant operator’s stock after selling 261 shares during the period. Texas Permanent School Fund owned about 0.07% of DineEquity worth $661,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Pacific Global Investment Management CO boosted its stake in shares of DineEquity by 0.3% in the fourth quarter. Pacific Global Investment Management CO now owns 5,673 shares of the restaurant operator’s stock valued at $437,000 after buying an additional 15 shares during the period. Capstone Asset Management Co. boosted its stake in shares of DineEquity by 2.2% in the first quarter. Capstone Asset Management Co. now owns 5,033 shares of the restaurant operator’s stock valued at $274,000 after buying an additional 110 shares during the period. Glen Harbor Capital Management LLC boosted its stake in shares of DineEquity by 8.0% in the first quarter. Glen Harbor Capital Management LLC now owns 1,836 shares of the restaurant operator’s stock valued at $100,000 after buying an additional 136 shares during the period. First Midwest Bank Trust Division boosted its stake in shares of DineEquity by 2.8% in the first quarter. First Midwest Bank Trust Division now owns 6,273 shares of the restaurant operator’s stock valued at $341,000 after buying an additional 171 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of DineEquity by 5.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,852 shares of the restaurant operator’s stock valued at $451,000 after buying an additional 302 shares during the period. 89.47% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for DineEquity (NYSE:DIN)

Shares of DineEquity, Inc (DIN) opened at 43.12 on Friday. The stock has a 50 day moving average of $48.95 and a 200-day moving average of $61.70. The company has a market capitalization of $775.30 million, a PE ratio of 9.06 and a beta of 0.36. DineEquity, Inc has a one year low of $42.87 and a one year high of $88.00.

DineEquity (NYSE:DIN) last released its quarterly earnings results on Tuesday, May 2nd. The restaurant operator reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.02. DineEquity had a net margin of 13.85% and a return on equity of 40.48%. The company had revenue of $156.17 million for the quarter, compared to analyst estimates of $158.77 million. On average, equities analysts forecast that DineEquity, Inc will post $4.85 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Monday, June 19th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 9.00%. The ex-dividend date of this dividend is Thursday, June 15th. DineEquity’s payout ratio is currently 81.68%.

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DIN has been the topic of several analyst reports. CL King raised shares of DineEquity from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Monday, March 6th. Instinet cut their price target on shares of DineEquity from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, March 2nd. Maxim Group cut their price target on shares of DineEquity from $94.00 to $84.00 and set a “buy” rating on the stock in a research report on Tuesday, February 21st. Vetr cut shares of DineEquity from a “buy” rating to a “hold” rating and set a $58.82 price target on the stock. in a research report on Wednesday, April 26th. Finally, Raymond James Financial, Inc. cut shares of DineEquity from an “outperform” rating to a “mkt perform” rating in a research report on Friday, February 17th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $71.55.

In other news, insider Darren M. Rebelez purchased 3,775 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The shares were bought at an average cost of $51.68 per share, with a total value of $195,092.00. Following the completion of the transaction, the insider now directly owns 32,824 shares of the company’s stock, valued at $1,696,344.32. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen P. Joyce purchased 2,265 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were purchased at an average cost of $44.07 per share, for a total transaction of $99,818.55. Following the completion of the transaction, the director now directly owns 5,488 shares of the company’s stock, valued at $241,856.16. The disclosure for this purchase can be found here. 2.15% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding DIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DineEquity, Inc (NYSE:DIN).

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