Allspring Global Investments Holdings LLC Sells 494,269 Shares of Dine Brands Global, Inc. (NYSE:DIN)

Allspring Global Investments Holdings LLC decreased its stake in shares of Dine Brands Global, Inc. (NYSE:DIN) by 72.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 192,627 shares of the restaurant operator’s stock after selling 494,269 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Dine Brands Global were worth $5,758,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Verition Fund Management LLC purchased a new position in Dine Brands Global in the 3rd quarter worth about $765,000. JPMorgan Chase & Co. grew its position in shares of Dine Brands Global by 164.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,399 shares of the restaurant operator’s stock worth $2,979,000 after buying an additional 59,360 shares during the last quarter. Cibc World Market Inc. grew its position in shares of Dine Brands Global by 640.6% in the 4th quarter. Cibc World Market Inc. now owns 495,176 shares of the restaurant operator’s stock worth $14,905,000 after buying an additional 428,319 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Dine Brands Global by 50.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 29,686 shares of the restaurant operator’s stock worth $909,000 after buying an additional 9,910 shares during the last quarter. Finally, Barclays PLC boosted its stake in Dine Brands Global by 135.4% in the 3rd quarter. Barclays PLC now owns 35,946 shares of the restaurant operator’s stock worth $1,123,000 after purchasing an additional 20,673 shares in the last quarter. Institutional investors own 92.83% of the company’s stock.

Dine Brands Global Stock Performance

Shares of DIN opened at $27.29 on Thursday. The stock has a market capitalization of $416.11 million, a PE ratio of 4.54 and a beta of 1.75. Dine Brands Global, Inc. has a 1 year low of $25.67 and a 1 year high of $51.35. The company’s 50-day simple moving average is $29.04 and its 200-day simple moving average is $30.91.

Dine Brands Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Friday, December 20th were given a dividend of $0.51 per share. The ex-dividend date was Friday, December 20th. This represents a $2.04 annualized dividend and a dividend yield of 7.48%. Dine Brands Global’s dividend payout ratio is presently 33.94%.

Analysts Set New Price Targets

Several analysts have commented on DIN shares. Piper Sandler decreased their price objective on shares of Dine Brands Global from $40.00 to $38.00 and set a “neutral” rating for the company in a research note on Monday, November 18th. Wedbush reaffirmed an “outperform” rating and set a $47.00 target price on shares of Dine Brands Global in a report on Friday, November 15th. CL King lowered shares of Dine Brands Global from a “buy” rating to a “neutral” rating in a report on Monday, November 4th. Benchmark reaffirmed a “hold” rating on shares of Dine Brands Global in a report on Tuesday, October 29th. Finally, Barclays reaffirmed an “equal weight” rating and set a $32.00 target price (down previously from $43.00) on shares of Dine Brands Global in a report on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $41.29.

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.