Massachusetts Financial Services Co. MA boosted its stake in Dunkin Brands Group Inc (NASDAQ:DNKN) by 43.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 276,134 shares of the restaurant operator’s stock after buying an additional 83,063 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Dunkin Brands Group were worth $20,356,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in DNKN. Victory Capital Management Inc. lifted its position in Dunkin Brands Group by 1,645.7% in the 2nd quarter. Victory Capital Management Inc. now owns 839,389 shares of the restaurant operator’s stock worth $57,976,000 after buying an additional 791,307 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Dunkin Brands Group in the 2nd quarter worth approximately $23,435,000. BTIM Corp. purchased a new stake in Dunkin Brands Group in the 2nd quarter worth approximately $19,762,000. Unigestion Holding SA purchased a new stake in Dunkin Brands Group in the 2nd quarter worth approximately $7,625,000. Finally, Dimensional Fund Advisors LP lifted its position in Dunkin Brands Group by 7.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 569,154 shares of the restaurant operator’s stock worth $39,312,000 after buying an additional 41,318 shares in the last quarter. Institutional investors own 99.10% of the company’s stock.
In related news, Chairman Nigel Travis sold 83,030 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $73.54, for a total value of $6,106,026.20. Following the transaction, the chairman now directly owns 338,411 shares in the company, valued at approximately $24,886,744.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Karen Raskopf sold 13,000 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $73.36, for a total transaction of $953,680.00. Following the completion of the transaction, the senior vice president now owns 13,000 shares in the company, valued at $953,680. The disclosure for this sale can be found here. Insiders sold a total of 381,486 shares of company stock worth $27,389,565 over the last quarter. 3.00% of the stock is currently owned by company insiders.
Dunkin Brands Group stock opened at $72.11 on Monday. The firm has a market cap of $6.04 billion, a PE ratio of 29.67, a price-to-earnings-growth ratio of 2.05 and a beta of 0.33. Dunkin Brands Group Inc has a 1-year low of $55.60 and a 1-year high of $77.13.
Dunkin Brands Group (NASDAQ:DNKN) last released its quarterly earnings results on Thursday, October 25th. The restaurant operator reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.10. The business had revenue of $350.01 million for the quarter, compared to the consensus estimate of $344.17 million. Dunkin Brands Group had a net margin of 30.28% and a negative return on equity of 41.14%. On average, sell-side analysts forecast that Dunkin Brands Group Inc will post 2.84 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 5th. Investors of record on Monday, November 26th will be paid a $0.3475 dividend. The ex-dividend date is Friday, November 23rd. This represents a $1.39 dividend on an annualized basis and a yield of 1.93%. Dunkin Brands Group’s payout ratio is presently 57.20%.
A number of research firms have issued reports on DNKN. BMO Capital Markets increased their target price on shares of Dunkin Brands Group from $69.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, July 27th. Jefferies Financial Group increased their target price on shares of Dunkin Brands Group from $67.00 to $70.00 and gave the stock a “hold” rating in a research report on Friday, October 26th. Citigroup increased their target price on shares of Dunkin Brands Group from $83.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, October 30th. Zacks Investment Research upgraded shares of Dunkin Brands Group from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research report on Wednesday, October 24th. Finally, TheStreet upgraded shares of Dunkin Brands Group from a “c+” rating to a “b” rating in a research report on Friday, July 27th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and twelve have assigned a buy rating to the company. Dunkin Brands Group presently has an average rating of “Hold” and a consensus price target of $70.17.
About Dunkin Brands Group
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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