Assenagon Asset Management S.A. Lowers Stake in Domino's Pizza Inc $DPZ

Key Points

• Assenagon Asset Management cut its Domino’s Pizza stake by 51% in the first quarter, selling 9,571 shares and leaving it with 9,198 shares worth about $3.3 million.
• Domino’s posted quarterly EPS of $4.13, missing analyst expectations of $4.29, though revenue still rose 3.5% year over year to $1.15 billion.
• The company recently paid a $1.99 per share dividend and currently offers an annualized yield of 2.7%; analysts still maintain a Moderate Buy consensus with an average price target of $412.97.

Assenagon Asset Management S.A. cut its holdings in shares of Domino's Pizza Inc (NASDAQ:DPZ - Free Report) by 51.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,198 shares of the restaurant operator's stock after selling 9,571 shares during the period. Assenagon Asset Management S.A.'s holdings in Domino's Pizza were worth $3,300,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Berkshire Hathaway Inc grew its stake in Domino's Pizza by 13.2% in the 3rd quarter. Berkshire Hathaway Inc now owns 2,981,945 shares of the restaurant operator's stock valued at $1,287,335,000 after acquiring an additional 348,077 shares during the period. Marshfield Associates raised its position in Domino's Pizza by 4.0% during the third quarter. Marshfield Associates now owns 744,515 shares of the restaurant operator's stock worth $321,415,000 after acquiring an additional 28,765 shares during the period. Teacher Retirement System of Texas lifted its holdings in Domino's Pizza by 55.7% during the fourth quarter. Teacher Retirement System of Texas now owns 45,212 shares of the restaurant operator's stock valued at $18,845,000 after purchasing an additional 16,179 shares in the last quarter. Amica Mutual Insurance Co. lifted its holdings in Domino's Pizza by 59.8% during the fourth quarter. Amica Mutual Insurance Co. now owns 16,576 shares of the restaurant operator's stock valued at $6,909,000 after purchasing an additional 6,203 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Domino's Pizza by 10.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 67,117 shares of the restaurant operator's stock valued at $28,544,000 after purchasing an additional 6,223 shares during the period. Hedge funds and other institutional investors own 94.63% of the company's stock.

Insider Buying and Selling

In other Domino's Pizza news, EVP Kelly E. Garcia sold 487 shares of Domino's Pizza stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $311.74, for a total value of $151,817.38. Following the sale, the executive vice president owned 9,352 shares in the company, valued at $2,915,392.48. The trade was a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,463 shares of company stock valued at $466,807 in the last quarter. 0.89% of the stock is owned by insiders.

Domino's Pizza Price Performance

NASDAQ:DPZ opened at $296.04 on Wednesday. The company's 50-day moving average is $318.38 and its two-hundred day moving average is $369.35. Domino's Pizza Inc has a 1-year low of $282.00 and a 1-year high of $496.00. The firm has a market capitalization of $9.85 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 1.37 and a beta of 0.97.

Domino's Pizza (NASDAQ:DPZ - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The restaurant operator reported $4.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.29 by ($0.16). Domino's Pizza had a negative return on equity of 15.04% and a net margin of 11.89%.The firm had revenue of $1.15 billion for the quarter. During the same period in the prior year, the company earned $4.33 EPS. Domino's Pizza's revenue was up 3.5% on a year-over-year basis. As a group, equities analysts anticipate that Domino's Pizza Inc will post 18.99 earnings per share for the current fiscal year.

Domino's Pizza Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $1.99 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $7.96 annualized dividend and a yield of 2.7%. Domino's Pizza's dividend payout ratio (DPR) is 45.83%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. HSBC lowered their price target on Domino's Pizza from $601.00 to $544.00 and set a "buy" rating on the stock in a research note on Tuesday, April 28th. Benchmark decreased their price target on shares of Domino's Pizza from $465.00 to $430.00 and set a "buy" rating on the stock in a research note on Tuesday, April 28th. TD Cowen restated a "hold" rating and set a $350.00 price target on shares of Domino's Pizza in a research report on Tuesday, June 23rd. Stifel Nicolaus set a $400.00 price objective on shares of Domino's Pizza in a research note on Monday, April 27th. Finally, UBS Group reiterated a "buy" rating on shares of Domino's Pizza in a report on Tuesday, June 23rd. Seventeen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Domino's Pizza presently has a consensus rating of "Moderate Buy" and an average target price of $412.97.

Domino's Pizza Profile

Domino’s Pizza, Inc NASDAQ: DPZ is a global pizza delivery and carryout chain founded in 1960 and headquartered in Ann Arbor, Michigan. The company specializes in a broad range of hand‐crafted pizzas, including hand-tossed, thin crust and specialty offerings, alongside side items such as chicken wings, sandwiches, pasta, desserts and beverages. Domino’s has built its brand on convenience and speed, leveraging proprietary ordering platforms and its Domino’s Tracker system to provide real-time status updates from order placement through delivery.

Operating predominantly under a franchise model, Domino’s has more than 17,000 stores worldwide, with approximately 95% of outlets owned and operated by independent franchisees.

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