Allspring Global Investments Holdings LLC Trims Stock Holdings in Dine Brands Global, Inc. (NYSE:DIN)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Dine Brands Global, Inc. (NYSE:DIN - Free Report) by 72.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 owned 1.26% of Dine Brands Global worth $5,758,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cibc World Market Inc. increased its position in shares of Dine Brands Global by 640.6% during the 4th quarter. Cibc World Market Inc. now owns 495,176 shares of the restaurant operator's stock worth $14,905,000 after purchasing an additional 428,319 shares during the last quarter. EMC Capital Management grew its position in Dine Brands Global by 2,570.0% in the 4th quarter. EMC Capital Management now owns 2,937 shares of the restaurant operator's stock valued at $88,000 after acquiring an additional 2,827 shares in the last quarter. Olstein Capital Management L.P. grew its position in Dine Brands Global by 4.6% in the 4th quarter. Olstein Capital Management L.P. now owns 316,158 shares of the restaurant operator's stock valued at $9,516,000 after acquiring an additional 13,953 shares in the last quarter. Nisa Investment Advisors LLC grew its position in 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 valued at $909,000 after acquiring an additional 9,910 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Dine Brands Global by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 160,378 shares of the restaurant operator's stock valued at $4,847,000 after acquiring an additional 6,324 shares in the last quarter. 92.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. KeyCorp dropped their target price on Dine Brands Global from $36.00 to $35.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Piper Sandler dropped their target price on Dine Brands Global from $40.00 to $38.00 and set a "neutral" rating for the company in a research report on Monday, November 18th. CL King downgraded Dine Brands Global from a "buy" rating to a "neutral" rating in a research report on Monday, November 4th. Benchmark reaffirmed a "hold" rating on shares of Dine Brands Global in a research report on Tuesday, October 29th. Finally, Barclays reiterated an "equal weight" rating and issued a $32.00 price objective (down previously from $43.00) on shares of Dine Brands Global in a research note on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Dine Brands Global currently has an average rating of "Hold" and an average target price of $41.29.

Dine Brands Global Stock Performance

Shares of DIN traded down $0.76 during midday trading on Friday, hitting $25.80. The company had a trading volume of 584,476 shares, compared to its average volume of 512,688. The company's 50-day simple moving average is $28.84 and its 200-day simple moving average is $30.83. The firm has a market capitalization of $393.27 million, a P/E ratio of 4.29 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.

Dine Brands Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 7.91%. The ex-dividend date is Monday, March 17th. Dine Brands Global's payout ratio is 33.94%.

Dine Brands Global Company 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.