Bank of America Corp DE Acquires Shares of 218,883 Domino's Pizza Inc $DPZ

Key Points

• Bank of America acquired 218,883 Domino’s Pizza shares worth approximately $64.8 million, giving it about a 0.66% stake. Institutional investors collectively own 94.63% of the company.
• Domino’s insiders sold 23,767 shares worth $7.74 million over the past three months, including substantial sales by the CEO and an executive vice president.
• Analysts maintain a consensus “Hold” rating with an average price target of $398.06. The company recently missed quarterly earnings estimates but reported 4.3% year-over-year revenue growth and declared a $1.99 quarterly dividend.

Bank of America Corp DE acquired a new position in shares of Domino's Pizza Inc (NASDAQ:DPZ - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 218,883 shares of the restaurant operator's stock, valued at approximately $64,798,000. Bank of America Corp DE owned about 0.66% of Domino's Pizza at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SHP Wealth Management acquired a new stake in Domino's Pizza during the 4th quarter worth approximately $25,000. Rakuten Securities Inc. acquired a new position in shares of Domino's Pizza during the 2nd quarter worth about $28,000. Annis Gardner Whiting Capital Advisors LLC raised its stake in Domino's Pizza by 97.1% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 69 shares of the restaurant operator's stock valued at $29,000 after acquiring an additional 34 shares during the period. Investors Research Corp raised its holdings in Domino's Pizza by 9,900.0% in the 2nd quarter. Investors Research Corp now owns 100 shares of the restaurant operator's stock valued at $30,000 after acquiring an additional 99 shares during the period. Finally, MBM Wealth Consultants LLC acquired a new stake in shares of Domino's Pizza during the first quarter worth $31,000. 94.63% of the stock is currently owned by institutional investors.

Insider Transactions at Domino's Pizza

In other Domino's Pizza news, EVP Kelly E. Garcia sold 12,430 shares of the firm's stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $322.04, for a total value of $4,002,957.20. Following the completion of the transaction, the executive vice president directly owned 9,352 shares of the company's stock, valued at $3,011,718.08. This trade represents a 57.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Russell J. Weiner sold 10,850 shares of Domino's Pizza stock in a transaction on Friday, July 17th. The shares were sold at an average price of $330.83, for a total value of $3,589,505.50. Following the sale, the chief executive officer directly owned 43,829 shares of the company's stock, valued at $14,499,948.07. This represents a 19.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 23,767 shares of company stock worth $7,737,107 in the last three months. 0.89% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Domino's Pizza in a research report on Tuesday, July 21st. Citigroup lowered their price objective on Domino's Pizza from $365.00 to $335.00 and set a "neutral" rating for the company in a research note on Tuesday, July 7th. Loop Capital reaffirmed a "hold" rating and set a $353.00 target price on shares of Domino's Pizza in a report on Monday, August 10th. Benchmark reaffirmed a "buy" rating on shares of Domino's Pizza in a research note on Tuesday, July 21st. Finally, Morgan Stanley decreased their target price on Domino's Pizza from $395.00 to $370.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 15th. Sixteen equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $398.06.

Domino's Pizza Stock Performance

DPZ opened at $294.20 on Friday. Domino's Pizza Inc has a fifty-two week low of $282.00 and a fifty-two week high of $442.35. The firm has a 50-day moving average of $336.27 and a 200 day moving average of $338.83. The firm has a market cap of $9.73 billion, a P/E ratio of 16.69, a PEG ratio of 1.35 and a beta of 0.94.

Domino's Pizza (NASDAQ:DPZ - Get Free Report) last announced its quarterly earnings data on Monday, July 20th. The restaurant operator reported $4.07 earnings per share for the quarter, missing the consensus estimate of $4.17 by ($0.10). The firm had revenue of $1.19 billion for the quarter. Domino's Pizza had a net margin of 11.86% and a negative return on equity of 15.15%. The company's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the business posted $3.81 earnings per share. Equities research analysts predict that Domino's Pizza Inc will post 18.95 earnings per share for the current fiscal year.

Domino's Pizza Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $1.99 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $7.96 dividend on an annualized basis and a yield of 2.7%. Domino's Pizza's payout ratio is presently 45.15%.

Domino's Pizza Company Profile

Domino's Pizza, Inc is a global restaurant company that operates and franchises stores under the Domino's brand. Its core business centers on the preparation and delivery of made-to-order pizzas, with carryout and digital ordering also playing important roles in its customer service model.

The company's menu includes a variety of pizzas, crusts and toppings, along with side dishes, chicken, sandwiches, desserts and beverages. Domino's also operates a supply chain business that produces and distributes food, equipment and other products to company-owned and franchised stores, supporting consistency across its restaurant network.

Founded in 1960 in Ypsilanti, Michigan, Domino's was initially known as Dominick's before adopting its current name in 1965.

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