New Mexico Educational Retirement Board Purchases New Stake in Dunkin Brands Group Inc (DNKN)
New Mexico Educational Retirement Board purchased a new stake in shares of Dunkin Brands Group Inc (NASDAQ:DNKN) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 22,300 shares of the restaurant operator’s stock, valued at approximately $1,438,000.
A number of other large investors have also recently modified their holdings of DNKN. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Dunkin Brands Group in the third quarter worth $43,085,000. HS Management Partners LLC purchased a new position in Dunkin Brands Group during the 3rd quarter worth $17,590,000. State of New Jersey Common Pension Fund D raised its position in Dunkin Brands Group by 60.0% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 640,000 shares of the restaurant operator’s stock worth $33,971,000 after buying an additional 240,000 shares during the last quarter. First Manhattan Co. raised its position in Dunkin Brands Group by 9.4% during the 4th quarter. First Manhattan Co. now owns 1,601,113 shares of the restaurant operator’s stock worth $103,223,000 after buying an additional 137,051 shares during the last quarter. Finally, First Quadrant L P CA purchased a new position in Dunkin Brands Group during the 4th quarter worth $8,308,000. Institutional investors own 97.85% of the company’s stock.
Shares of Dunkin Brands Group Inc (NASDAQ:DNKN) traded down $0.44 during midday trading on Wednesday, reaching $59.30. 1,098,795 shares of the company were exchanged, compared to its average volume of 1,370,000. The firm has a market cap of $4,880.00, a PE ratio of 26.36, a price-to-earnings-growth ratio of 1.67 and a beta of 0.29. The company has a debt-to-equity ratio of 361.71, a quick ratio of 2.79 and a current ratio of 2.79. Dunkin Brands Group Inc has a 12-month low of $50.89 and a 12-month high of $68.45.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Monday, March 12th will be issued a dividend of $0.3475 per share. This is a positive change from Dunkin Brands Group’s previous quarterly dividend of $0.32. This represents a $1.39 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Friday, March 9th. Dunkin Brands Group’s dividend payout ratio is presently 61.78%.
In related news, insider Richard J. Emmett sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $62.84, for a total value of $282,780.00. Following the transaction, the insider now owns 16,542 shares in the company, valued at $1,039,499.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Nigel Travis sold 57,296 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $63.24, for a total transaction of $3,623,399.04. Following the completion of the sale, the chief executive officer now directly owns 327,957 shares of the company’s stock, valued at approximately $20,740,000.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 455,581 shares of company stock worth $28,320,199. Insiders own 3.10% of the company’s stock.
A number of brokerages have commented on DNKN. Piper Jaffray Companies upped their price objective on shares of Dunkin Brands Group from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Zacks Investment Research upgraded shares of Dunkin Brands Group 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. Nomura upped their price objective on shares of Dunkin Brands Group from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Jefferies Group upgraded shares of Dunkin Brands Group from an “underperform” rating to a “hold” rating and upped their price objective for the stock from $48.00 to $56.00 in a research report on Friday, December 22nd. Finally, William Blair raised shares of Dunkin Brands Group from a “market perform” rating to an “outperform” rating in a research note on Monday, January 22nd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. Dunkin Brands Group currently has a consensus rating of “Hold” and an average target price of $63.20.
About Dunkin Brands Group
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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