Jennison Associates LLC Sells 9,454 Shares of Denny’s Co. (NASDAQ:DENN)

Jennison Associates LLC trimmed its holdings in shares of Denny’s Co. (NASDAQ:DENN) by 9.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,496 shares of the restaurant operator’s stock after selling 9,454 shares during the period. Jennison Associates LLC’s holdings in Denny’s were worth $1,006,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of DENN. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Denny’s by 45.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,403 shares of the restaurant operator’s stock valued at $130,000 after purchasing an additional 4,843 shares in the last quarter. Skylands Capital LLC increased its stake in Denny’s by 194.0% in the third quarter. Skylands Capital LLC now owns 94,075 shares of the restaurant operator’s stock valued at $797,000 after purchasing an additional 62,075 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Denny’s by 3.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,049,458 shares of the restaurant operator’s stock valued at $68,179,000 after purchasing an additional 296,554 shares in the last quarter. Panagora Asset Management Inc. increased its stake in Denny’s by 6.1% in the third quarter. Panagora Asset Management Inc. now owns 235,449 shares of the restaurant operator’s stock valued at $1,994,000 after purchasing an additional 13,451 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Denny’s by 48.1% in the third quarter. Teacher Retirement System of Texas now owns 31,854 shares of the restaurant operator’s stock valued at $270,000 after purchasing an additional 10,340 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, Director John C. Miller sold 35,359 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $9.25, for a total transaction of $327,070.75. Following the completion of the transaction, the director now owns 740,626 shares in the company, valued at $6,850,790.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on DENN shares. Oppenheimer lowered their target price on shares of Denny’s from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. StockNews.com raised shares of Denny’s from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Wedbush lowered their price objective on shares of Denny’s from $10.50 to $9.50 and set a “neutral” rating for the company in a research report on Friday. Finally, Truist Financial lowered their price objective on shares of Denny’s from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, February 14th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.75.

Denny’s Stock Down 2.2 %

Shares of DENN stock opened at $8.07 on Friday. The firm has a fifty day moving average of $8.81 and a 200-day moving average of $9.51. Denny’s Co. has a 12-month low of $8.00 and a 12-month high of $12.53. The company has a market capitalization of $428.52 million, a price-to-earnings ratio of 23.06, a P/E/G ratio of 1.40 and a beta of 1.93.

Denny’s (NASDAQ:DENN) last announced its earnings results on Tuesday, February 13th. The restaurant operator reported $0.14 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.03). Denny’s had a negative return on equity of 70.78% and a net margin of 4.30%. The business had revenue of $115.40 million for the quarter, compared to analyst estimates of $115.67 million. During the same quarter in the previous year, the company posted $0.18 EPS. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. On average, equities analysts expect that Denny’s Co. will post 0.64 EPS for the current year.

Denny’s Company Profile

Denny's Corporation, through its subsidiaries, owns and operates franchised full-service restaurant chains under the Denny's and Keke's Breakfast Cafe brands in the United States and internationally. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in July 2002.