Bank of Nova Scotia Invests $1.68 Million in Domino's Pizza Inc $DPZ

Key Points

• Bank of Nova Scotia acquired 5,688 Domino’s shares worth approximately $1.68 million during the second quarter. Institutional investors collectively own 94.63% of DPZ.
• Domino’s reported quarterly revenue of $1.19 billion, up 4.3% year over year, but earnings per share of $4.07 fell short of analysts’ $4.17 estimate.
• The company declared a quarterly dividend of $1.99 per share, equivalent to an annualized $7.96 dividend and a 2.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $397.42.

Bank of Nova Scotia bought a new stake in Domino's Pizza Inc (NASDAQ:DPZ - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,688 shares of the restaurant operator's stock, valued at approximately $1,683,000.

Several other institutional investors and hedge funds have also bought and sold shares of DPZ. SHP Wealth Management acquired a new position in shares of Domino's Pizza during the 4th quarter worth approximately $25,000. Rakuten Securities Inc. acquired a new stake in shares of Domino's Pizza in the 2nd quarter valued at approximately $28,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of 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 buying an additional 34 shares during the last quarter. Investors Research Corp grew its stake in shares of Domino's Pizza by 9,900.0% in the second quarter. Investors Research Corp now owns 100 shares of the restaurant operator's stock valued at $30,000 after buying an additional 99 shares in the last quarter. Finally, MBM Wealth Consultants LLC bought a new position in shares of Domino's Pizza in the first quarter valued at $31,000. Institutional investors own 94.63% of the company's stock.

Insider Buying and Selling

In other news, CEO Russell J. Weiner sold 10,850 shares of the stock in a transaction that occurred on Friday, July 17th. The stock was sold at an average price of $330.83, for a total transaction of $3,589,505.50. Following the transaction, the chief executive officer owned 43,829 shares in the company, valued at approximately $14,499,948.07. This trade represents a 19.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelly E. Garcia sold 12,430 shares of Domino's Pizza stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of $322.04, for a total value of $4,002,957.20. Following the sale, the executive vice president directly owned 9,352 shares of the company's stock, valued at approximately $3,011,718.08. The trade was a 57.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 24,254 shares of company stock valued at $7,888,924. Corporate insiders own 0.89% of the company's stock.

Domino's Pizza Price Performance

DPZ stock opened at $344.56 on Thursday. Domino's Pizza Inc has a one year low of $282.00 and a one year high of $469.00. The stock has a market cap of $11.40 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 1.69 and a beta of 0.94. The company has a fifty day moving average price of $327.46 and a two-hundred day moving average price of $346.05.

Domino's Pizza (NASDAQ:DPZ - Get Free Report) last issued 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). Domino's Pizza had a net margin of 11.86% and a negative return on equity of 15.15%. The company had revenue of $1.19 billion during the quarter. During the same quarter in the previous year, the firm earned $3.81 earnings per share. Domino's Pizza's revenue for the quarter was up 4.3% on a year-over-year basis. Research analysts anticipate that Domino's Pizza Inc will post 18.89 EPS for the current fiscal year.

Domino's Pizza Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $1.99 per share. This represents a $7.96 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 15th. Domino's Pizza's payout ratio is currently 45.15%.

Wall Street Analyst Weigh In

DPZ has been the topic of several analyst reports. Oppenheimer dropped their price target on shares of Domino's Pizza from $465.00 to $415.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Domino's Pizza from $435.00 to $385.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Benchmark reaffirmed a "buy" rating on shares of Domino's Pizza in a report on Tuesday, July 21st. Royal Bank Of Canada upped their target price on shares of Domino's Pizza from $325.00 to $350.00 and gave the company a "sector perform" rating in a report on Tuesday, July 21st. Finally, UBS Group reiterated a "buy" rating on shares of Domino's Pizza in a report on Tuesday, July 21st. Sixteen investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Domino's Pizza presently has a consensus rating of "Hold" and a consensus target price of $397.42.

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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