Domino’s Pizza Inc $DPZ Stock: Precedent Wealth Partners LLC Grows Holdings

Precedent Wealth Partners LLC boosted its position in Domino’s Pizza Inc (NASDAQ:DPZ) by 39.8% during the third quarter, Holdings Channel.com reports. The fund owned 5,646 shares of the restaurant operator’s stock after purchasing an additional 1,607 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Domino’s Pizza were worth $1,692,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in DPZ. Soroban Capital Partners LP acquired a new stake in Domino’s Pizza during the first quarter worth about $895,251,000. BlackRock Inc. acquired a new position in shares of Domino’s Pizza in the 2nd quarter valued at about $715,704,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Domino’s Pizza by 247.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 527,246 shares of the restaurant operator’s stock valued at $189,171,000 after purchasing an additional 375,709 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Domino’s Pizza by 937,192.2% in the 2nd quarter. Van ECK Associates Corp now owns 478,019 shares of the restaurant operator’s stock valued at $141,513,000 after purchasing an additional 477,968 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Domino’s Pizza by 5.2% during the 1st quarter. Royal Bank of Canada now owns 448,221 shares of the restaurant operator’s stock worth $160,817,000 after purchasing an additional 22,320 shares during the period. Hedge funds and other institutional investors own 94.63% of the company’s stock.

Domino’s Pizza Price Performance

Shares of NASDAQ DPZ opened at $317.70 on Friday. Domino’s Pizza Inc has a 1-year low of $282.00 and a 1-year high of $442.35. The business has a 50-day moving average of $317.51 and a 200-day moving average of $324.93. The company has a market capitalization of $10.45 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 1.44 and a beta of 0.94.

Domino’s Pizza (NASDAQ:DPZ) last posted its earnings results on Tuesday, October 13th. The restaurant operator reported $4.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.33 by $0.27. The business had revenue of $1.19 billion during the quarter. Domino’s Pizza had a negative return on equity of 15.48% and a net margin of 12.03%. Domino’s Pizza’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $4.08 EPS. Research analysts expect that Domino’s Pizza Inc will post 19.04 EPS for the current fiscal year.

Domino’s Pizza Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 15th will be paid a $1.99 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $7.96 annualized dividend and a dividend yield of 2.5%. Domino’s Pizza’s dividend payout ratio is 43.86%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DPZ. Wells Fargo & Company dropped their target price on shares of Domino’s Pizza from $350.00 to $320.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 14th. Benchmark reaffirmed a “buy” rating on shares of Domino’s Pizza in a research report on Tuesday, July 21st. TD Cowen reiterated a “hold” rating and set a $320.00 price objective on shares of Domino’s Pizza in a research note on Tuesday, October 13th. Robert W. Baird dropped their price objective on shares of Domino’s Pizza from $325.00 to $320.00 and set a “neutral” rating for the company in a research report on Wednesday, October 14th. Finally, Royal Bank Of Canada dropped their price objective on shares of Domino’s Pizza from $325.00 to $320.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $380.87.

About Domino’s Pizza

Domino’s Pizza, Inc is a global restaurant company that operates and franchises Domino’s-branded pizza stores. Its core business focuses on pizza delivery and carryout, supported by digital ordering platforms, delivery technology and a supply chain that provides food and related products to stores.

The company’s menu includes a variety of pizzas, along with items such as chicken, sandwiches, pasta, bread products, desserts and beverages. Domino’s serves customers through a combination of company-owned and franchised locations, with franchisees operating the majority of its stores.

Founded in 1960 when Tom and James Monaghan acquired a small Michigan pizzeria, the business adopted the Domino’s name in 1965 and expanded through franchising.