The New Price T Rowe Associates Inc Holding in Dennys Corp
Price T Rowe Associates Inc filed with the SEC SC 13G/A form for Dennys Corp. The form can be accessed here: 000008025516001329. As reported in Price T Rowe Associates Inc ’s form, the filler as of late owns 10.3% or 7,706,459 shares of the Consumer Discretionary–company.
Dennys Corp stake is a new one for the for this institutional investor and it was filed because of activity on September 30, 2016. We feel this shows Price T Rowe Associates Inc ’s positive view for the stock. For a institutional investor managing $689.00 billion in assets and having 2216+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.
Dennys Corp Institutional Sentiment
Latest Security and Exchange filings show 146 investors own Dennys Corp. The institutional ownership in Q3 2015 is high, at 107.81% of the outstanding shares. This is increased by 7974016 the total institutional shares. 80644703 were the shares owned by these institutional investors. In total 20 funds opened new Dennys Corp stakes, 48 increased stakes. There were 25 that closed positions and 63 reduced them.
2 managers had the stock in their top Ten. Notable investors are: Avenir Corp..
Warren Lammert Granite Point Capital Management Lp is an institutional investor bullish on Dennys Corp, owning 90000 shares as of Q3 2015 for 0.68% of its portfolio. Wilen Investment Management Corp owns 97500 shares or 0.76% of its portfolio. DC Avenir Corp have 8.31% of their stock portfolio for 9059355 shares. Further, Geduld E E reported stake worth 1.81% of its US stock portfolio. The IL Keeley Asset Management Corp owns 4226369 shares. Dennys Corp is 1.32% of the manager’s US portfolio.
Denny’s Corporation (Denny’s) is a franchised service restaurant chain. The Company, through its subsidiary, Denny’s, Inc., owns and operates the Denny’s brand. The Denny’s brand consists of approximately 1,710 franchised, licensed and company operated restaurants around the world, including over 1,600 restaurants in the United States and over 110 international locations. Its approximately 1,550 restaurants are franchised or licensed, representing 90% of the total restaurants, and over 160 are company operated. The Company offers a range of items for breakfast, lunch, dinner and late night dining. Denny’s Fit Fare menu helps its guests identify items suited to their dietary needs. Denny’s restaurants offer special items for children and seniors. In addition to its breakfast-all-day items, Denny’s offers a selection of lunch and dinner items, including burgers, sandwiches, salads and skillet entrees, along with an assortment of beverages, appetizers and desserts.
SEC Form 13G is required when the filer owns between (5% and 20%) of a company and plans to hold it only as a passive investor. In case the filler intend to exert control and the stake’s exceeds 20%, then 13D Form must be filed. These filings can NOT be a precursor to “change of control” events such as hostile takeovers, company breakups or others.
Price T Rowe Associates Inc website.
Insitutional Activity: The institutional sentiment decreased to 0.75 in Q2 2016. Its down 0.22, from 0.97 in 2016Q1. The ratio dropped, as 19 funds sold all Denny’s Corporation shares owned while 57 reduced positions. 16 funds bought stakes while 41 increased positions. They now own 66.97 million shares or 2.10% less from 68.41 million shares in 2016Q1.
Pacad Invest Ltd last reported 5,000 shares in the company. The Guernsey-based Airain Ltd has invested 0.01% in Denny’s Corporation (NASDAQ:DENN). Blackrock Institutional Trust Company Na, a California-based fund reported 2.22M shares. The Switzerland-based Swiss Fincl Bank has invested 0% in Denny’s Corporation (NASDAQ:DENN). Glenmede Na accumulated 0% or 265 shares. Northern Tru Corp holds 0% or 966,263 shares in its portfolio. Parametric Port Associate Ltd, a Washington-based fund reported 260,242 shares. First Advsr Ltd Partnership has 0% invested in the company for 96,442 shares. Principal Finance Group holds 21,596 shares or 0% of its portfolio. Victory Capital Management holds 9,425 shares or 0% of its portfolio. Princeton Alpha Mgmt Limited Partnership reported 46,180 shares or 0.09% of all its holdings. Blackrock Fund accumulated 1.97M shares or 0% of the stock. Legal General Gru Public Limited Liability Corporation has invested 0% of its portfolio in Denny’s Corporation (NASDAQ:DENN). Paradigm Asset Mngmt Ltd Liability Com owns 9,400 shares or 0% of their US portfolio. Skylands Cap Ltd Liability Com, a Wisconsin-based fund reported 309,200 shares.
Analysts await Denny’s Corporation (NASDAQ:DENN) to report earnings on November, 1. They expect $0.13 EPS, up 18.18% or $0.02 from last year’s $0.11 per share. DENN’s profit will be $9.84 million for 19.81 P/E if the $0.13 EPS becomes a reality. After $0.13 actual EPS reported by Denny’s Corporation for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
About 7,663 shares traded hands. Denny’s Corporation (NASDAQ:DENN) has risen 1.17% since March 8, 2016 and is uptrending. It has underperformed by 8.15% the S&P500.
Denny’s Corporation is a franchised service restaurant chain. The company has a market cap of $779.49 million. The Company, through its subsidiary, Denny’s, Inc., owns and operates the Denny’s brand. It has a 54.39 P/E ratio. The Denny’s brand consists of approximately 1,710 franchised, licensed and firm operated restaurants around the world, including over 1,600 restaurants in the United States and over 110 international locations.
Denny’s Corporation (NASDAQ:DENN) Ratings Coverage
Out of 4 analysts covering Denny’s Co. (NASDAQ:DENN), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. $15 is the highest target while $12 is the lowest. The $13 average target is 26.21% above today’s ($10.3) stock price. Denny’s Co. has been the topic of 9 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The company was initiated on Wednesday, April 20 by Nomura. Longbow maintained the shares of DENN in a report on Monday, August 24 with “Positive” rating. The firm earned “Outperform” rating on Saturday, August 29 by Wedbush. The firm has “Buy” rating by Zacks given on Tuesday, August 4. The firm has “Equal-Weight” rating by Stephens given on Tuesday, January 12. As per Tuesday, May 3, the company rating was maintained by Wedbush. On Friday, August 21 the stock rating was maintained by Longbow with “Positive”.
More notable recent Denny’s Corporation (NASDAQ:DENN) news were published by: Nasdaq.com which released: “Denny’s Corporation Announces Timing of Third Quarter 2016 Results and …” on October 10, 2016, also Globenewswire.com with their article: “Denny’s Corporation to Present at CL King’s 14th Annual Best Ideas Conference …” published on August 30, 2016, Globenewswire.com published: “Denny’s Corporation Reports Results for Fourth Quarter and Full Year 2015” on February 17, 2016. More interesting news about Denny’s Corporation (NASDAQ:DENN) were released by: Gurufocus.com and their article: “Denny’s Corporation: A Solid Stock to Consider” published on May 18, 2016 as well as Benzinga.com‘s news article titled: “Companies From McDonald’s To Denny’s Are Surfing The Natural Ingredient Wave” with publication date: July 12, 2016.
According to Zacks Investment Research, “Denny’s Corp., formerly Advantica Restaurant Group, Inc., is one of the largest restaurant companies, operating moderately-priced restaurants: Denny’s, Hardee’s, Quincy’s, El Pollo Loco, Coco’s and Carrows. The company believes its restaurants benefit from the diversity of the restaurant concepts, the generally strong market positions and consumer recognition enjoyed by these chains, the benefits of a centralized support system for purchasing, menu development, human resources, management information systems, site selection, restaurant design and construction.”
DENN Company Profile
Denny’s Corporation (Denny’s), incorporated on September 29, 1988, is a franchised service restaurant chain. The Company, through its subsidiary, Denny’s, Inc., owns and operates the Denny’s brand. The Denny’s brand consists of approximately 1,710 franchised, licensed and firm operated restaurants around the world, including over 1,600 restaurants in the United States and over 110 international locations. The Company’s approximately 1,550 restaurants are franchised or licensed, representing 90% of the total restaurants, and over 160 are firm operated.
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