Raymond James issued a note to clients early Friday saying it anticipates Dunkin' Brands (NASDAQ:DNKN) to repurchase about $400 million in shares over the next year, sooner than expected. This will include shares from private holders which accounts for about 30% of the stock, citing CFO's comments in a May 23rd conference.
Raymond James sees about $340 million in buybacks in 2013, but none this year. Dunkin' Brands is also rolling out its loyalty program this year which will likely drive its comp sales in 2013.
Dunkin' Brands is relatively flat on this news. Shares are higher a little over a tenth of a percent to $32.76 in early trading.