Griffin Asset Management Inc. decreased its stake in shares of Dunkin’ Brands (NASDAQ:DNKN) by 42.7% in the 4th quarter, Holdings Channel reports. The firm owned 21,448 shares of the restaurant operator’s stock after selling 15,967 shares during the quarter. Griffin Asset Management Inc.’s holdings in Dunkin’ Brands were worth $1,383,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. Janus Henderson Group PLC increased its position in Dunkin’ Brands by 0.3% during the third quarter. Janus Henderson Group PLC now owns 8,626,960 shares of the restaurant operator’s stock worth $457,919,000 after purchasing an additional 21,819 shares during the last quarter. BlackRock Inc. increased its position in shares of Dunkin’ Brands by 0.7% in the fourth quarter. BlackRock Inc. now owns 7,322,621 shares of the restaurant operator’s stock worth $472,088,000 after acquiring an additional 51,795 shares in the last quarter. Jackson Square Partners LLC increased its position in shares of Dunkin’ Brands by 2.7% in the fourth quarter. Jackson Square Partners LLC now owns 1,818,261 shares of the restaurant operator’s stock worth $117,223,000 after acquiring an additional 47,703 shares in the last quarter. First Manhattan Co. increased its position in shares of Dunkin’ Brands by 9.4% in the fourth quarter. First Manhattan Co. now owns 1,601,113 shares of the restaurant operator’s stock worth $103,223,000 after acquiring an additional 137,051 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its position in shares of Dunkin’ Brands by 11.2% in the third quarter. Westfield Capital Management Co. LP now owns 977,879 shares of the restaurant operator’s stock worth $51,906,000 after acquiring an additional 98,615 shares in the last quarter. 97.66% of the stock is owned by hedge funds and other institutional investors.
In other Dunkin’ Brands news, insider Richard J. Emmett sold 4,500 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $62.84, for a total transaction of $282,780.00. Following the transaction, the insider now directly owns 16,542 shares in the company, valued at approximately $1,039,499.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William M. Mitchell sold 46,180 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $61.30, for a total transaction of $2,830,834.00. Following the transaction, the insider now owns 33,000 shares in the company, valued at $2,022,900. The disclosure for this sale can be found here. Insiders sold 455,581 shares of company stock valued at $28,320,199 over the last 90 days. Insiders own 3.10% of the company’s stock.
Dunkin’ Brands (NASDAQ:DNKN) last announced its earnings results on Tuesday, February 6th. The restaurant operator reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.01. The business had revenue of $227.10 million during the quarter, compared to the consensus estimate of $220.54 million. Dunkin’ Brands had a net margin of 40.77% and a negative return on equity of 190.44%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. research analysts forecast that Dunkin’ Brands will post 2.66 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Monday, March 12th will be paid a $0.3475 dividend. The ex-dividend date of this dividend is Friday, March 9th. This is an increase from Dunkin’ Brands’s previous quarterly dividend of $0.32. This represents a $1.39 annualized dividend and a dividend yield of 2.29%. Dunkin’ Brands’s dividend payout ratio is 36.48%.
DNKN has been the subject of several recent research reports. William Blair raised shares of Dunkin’ Brands from a “market perform” rating to an “outperform” rating in a research report on Monday, January 22nd. BMO Capital Markets set a $64.00 price objective on shares of Dunkin’ Brands and gave the stock a “hold” rating in a research report on Friday, January 12th. Zacks Investment Research raised shares of Dunkin’ Brands from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research report on Thursday, January 4th. Credit Suisse Group reissued a “buy” rating and issued a $68.00 price objective (up previously from $61.00) on shares of Dunkin’ Brands in a research report on Thursday, December 21st. Finally, Jefferies Group raised shares of Dunkin’ Brands from an “underperform” rating to a “hold” rating and increased their price objective for the stock from $48.00 to $56.00 in a research report on Friday, December 22nd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Dunkin’ Brands presently has an average rating of “Hold” and a consensus target price of $63.20.
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Dunkin’ Brands Company Profile
Dunkin' Brands Group, Inc, together with its subsidiaries, develops, franchises, and licenses quick service restaurants worldwide. The company operates through four segments: Dunkin' Donuts U.S., Dunkin' Donuts International, Baskin-Robbins International, and Baskin-Robbins U.S. Its restaurants offer hot and cold coffee, baked goods, donuts, bagels, muffins, breakfast sandwiches, hard and soft serve ice creams, frozen yogurts, shakes, malts, floats, and cakes.
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