Bank of New York Mellon Corp Makes New $78.08 Million Investment in Domino's Pizza Inc $DPZ

Key Points

• Bank of New York Mellon acquired 263,735 Domino’s Pizza shares worth approximately $78.1 million, representing 0.80% of the company. Institutional investors collectively own 94.63% of DPZ.
• Domino’s reported quarterly revenue of $1.19 billion, up 4.3% year over year, but EPS of $4.07 fell short of analyst expectations of $4.17. Analysts have a consensus “Hold” rating and an average price target of $397.42.
• The company declared a quarterly dividend of $1.99, or $7.96 annualized, yielding about 2.3%. Meanwhile, insiders sold approximately $7.9 million of stock over the past 90 days.

Bank of New York Mellon Corp acquired a new position in Domino's Pizza Inc (NASDAQ:DPZ - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 263,735 shares of the restaurant operator's stock, valued at approximately $78,076,000. Bank of New York Mellon Corp owned 0.80% of Domino's Pizza as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Focus Partners Advisor Solutions LLC bought a new stake in shares of Domino's Pizza during the 2nd quarter valued at $285,000. GSA Capital Partners LLP purchased a new position in shares of Domino's Pizza in the second quarter valued at about $319,000. SWS Partners bought a new position in shares of Domino's Pizza in the second quarter worth about $1,427,000. Oppenheimer Asset Management Inc. bought a new position in shares of Domino's Pizza in the second quarter worth about $5,686,000. Finally, Investors Research Corp grew its position in shares of Domino's Pizza by 9,900.0% during the second quarter. Investors Research Corp now owns 100 shares of the restaurant operator's stock worth $30,000 after purchasing an additional 99 shares in the last quarter. 94.63% of the stock is owned by hedge funds and other institutional investors.

Domino's Pizza Stock Performance

Shares of DPZ opened at $349.91 on Wednesday. The company's fifty day moving average is $326.86 and its 200 day moving average is $346.39. Domino's Pizza Inc has a fifty-two week low of $282.00 and a fifty-two week high of $469.00. The stock has a market capitalization of $11.58 billion, a PE ratio of 19.85, a P/E/G ratio of 1.68 and a beta of 0.94.

Domino's Pizza (NASDAQ:DPZ - Get Free Report) last released its quarterly earnings results on Monday, July 20th. The restaurant operator reported $4.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.17 by ($0.10). Domino's Pizza had a net margin of 11.86% and a negative return on equity of 15.15%. The business had revenue of $1.19 billion for the quarter. During the same quarter last year, the firm posted $3.81 earnings per share. The firm's quarterly revenue was up 4.3% compared to the same quarter last year. As a group, research analysts forecast that Domino's Pizza Inc will post 18.88 earnings per share for the current year.

Domino's Pizza Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $1.99 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $7.96 dividend on an annualized basis and a dividend yield of 2.3%. Domino's Pizza's dividend payout ratio (DPR) is presently 45.15%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on DPZ shares. Rothschild & Co Redburn lowered their price target on Domino's Pizza from $340.00 to $290.00 in a report on Monday, May 11th. BTIG Research reaffirmed a "buy" rating and set a $425.00 price objective on shares of Domino's Pizza in a report on Tuesday, July 21st. Mizuho reduced their price objective on shares of Domino's Pizza from $470.00 to $420.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 28th. JPMorgan Chase & Co. lowered their target price on shares of Domino's Pizza from $430.00 to $380.00 and set an "overweight" rating on the stock in a report on Tuesday, June 23rd. Finally, KeyCorp restated a "sector weight" rating on shares of Domino's Pizza in a research report on Tuesday, July 21st. Sixteen analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $397.42.

Insider Transactions at Domino's Pizza

In other news, CEO Russell J. Weiner sold 10,850 shares of Domino's Pizza stock in a transaction that occurred on Friday, July 17th. The stock was sold at an average price of $330.83, for a total value of $3,589,505.50. Following the completion of the transaction, the chief executive officer owned 43,829 shares in the company, valued at approximately $14,499,948.07. The trade was a 19.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelly E. Garcia sold 12,430 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 9,352 shares in the company, valued at approximately $3,011,718.08. This represents a 57.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 24,254 shares of company stock valued at $7,888,924. 0.89% of the stock is owned by insiders.

Domino's Pizza Company 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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