Tower Bridge Advisors cut its position in shares of Dunkin Brands Group Inc (NASDAQ:DNKN) by 87.4% during the second quarter, Holdings Channel reports. The fund owned 5,250 shares of the restaurant operator’s stock after selling 36,360 shares during the period. Tower Bridge Advisors’ holdings in Dunkin Brands Group were worth $289,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DNKN. Janney Montgomery Scott LLC raised its position in Dunkin Brands Group by 6.5% in the first quarter. Janney Montgomery Scott LLC now owns 25,482 shares of the restaurant operator’s stock worth $1,393,000 after buying an additional 1,550 shares during the last quarter. Sit Investment Associates Inc. raised its position in Dunkin Brands Group by 7.1% in the first quarter. Sit Investment Associates Inc. now owns 116,450 shares of the restaurant operator’s stock worth $6,367,000 after buying an additional 7,750 shares during the last quarter. Navellier & Associates Inc raised its position in Dunkin Brands Group by 5.6% in the first quarter. Navellier & Associates Inc now owns 89,571 shares of the restaurant operator’s stock worth $4,898,000 after buying an additional 4,722 shares during the last quarter. Retirement Systems of Alabama raised its position in Dunkin Brands Group by 12.2% in the first quarter. Retirement Systems of Alabama now owns 271,175 shares of the restaurant operator’s stock worth $14,828,000 after buying an additional 29,536 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in Dunkin Brands Group by 5.2% in the first quarter. State of Alaska Department of Revenue now owns 18,645 shares of the restaurant operator’s stock worth $1,019,000 after buying an additional 919 shares during the last quarter. 94.31% of the stock is currently owned by institutional investors and hedge funds.
Shares of Dunkin Brands Group Inc (DNKN) opened at 52.75 on Monday. The stock has a market capitalization of $4.82 billion, a P/E ratio of 23.14 and a beta of 0.22. The firm’s 50-day moving average price is $54.86 and its 200-day moving average price is $54.78. Dunkin Brands Group Inc has a 52-week low of $43.81 and a 52-week high of $59.70.
Dunkin Brands Group (NASDAQ:DNKN) last issued its quarterly earnings results on Thursday, July 27th. The restaurant operator reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. The firm had revenue of $218.50 million for the quarter, compared to analyst estimates of $220.77 million. During the same quarter last year, the business posted $0.57 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts forecast that Dunkin Brands Group Inc will post $2.43 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Monday, August 28th will be given a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, August 24th. Dunkin Brands Group’s dividend payout ratio (DPR) is presently 56.33%.
A number of research firms have recently issued reports on DNKN. Argus raised Dunkin Brands Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $58.84 to $68.00 in a report on Tuesday, June 6th. Mizuho began coverage on Dunkin Brands Group in a report on Thursday, June 8th. They issued a “neutral” rating and a $56.00 target price on the stock. Barclays PLC boosted their target price on Dunkin Brands Group from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, May 31st. BidaskClub lowered Dunkin Brands Group from a “buy” rating to a “hold” rating in a report on Saturday, June 10th. Finally, Bank of America Corporation reissued a “neutral” rating and issued a $62.00 target price (up previously from $60.00) on shares of Dunkin Brands Group in a report on Tuesday, June 13th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $56.47.
Dunkin Brands Group Company Profile
Dunkin’ Brands Group, Inc is a franchisor of quick service restaurants (QSRs) serving hot and cold coffee and baked goods, as well as hard serve ice cream. The Company franchises restaurants under its Dunkin’ Donuts and Baskin-Robbins brands. The Company operates through four segments: Dunkin’ Donuts-U.S., Dunkin’ Donuts International, Baskin-Robbins International and Baskin-Robbins-U.S.
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