Benchstone Capital Management LP Boosts Stock Position in Domino's Pizza Inc $DPZ

Key Points

• Benchstone Capital Management LP increased its holdings in Domino's Pizza by 518.6%, owning 50,749 shares worth approximately $23.3 million by the end of the first quarter.
• Multiple institutional investors, including Berkshire Hathaway and Principal Financial Group, raised their stakes in Domino's Pizza, indicating strong institutional interest in the company.
• Domino's Pizza announced a quarterly dividend of $1.74 per share, representing a 1.5% dividend yield, to be paid on September 30th.

Benchstone Capital Management LP grew its holdings in Domino's Pizza Inc (NASDAQ:DPZ - Free Report) by 518.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,749 shares of the restaurant operator's stock after buying an additional 42,545 shares during the period. Domino's Pizza accounts for about 2.5% of Benchstone Capital Management LP's holdings, making the stock its 20th biggest holding. Benchstone Capital Management LP owned 0.15% of Domino's Pizza worth $23,317,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Praxis Investment Management Inc. acquired a new position in shares of Domino's Pizza during the 1st quarter valued at about $414,000. Sowell Financial Services LLC acquired a new position in shares of Domino's Pizza during the 1st quarter valued at about $282,000. Merit Financial Group LLC boosted its position in shares of Domino's Pizza by 88.5% during the 1st quarter. Merit Financial Group LLC now owns 1,591 shares of the restaurant operator's stock valued at $731,000 after acquiring an additional 747 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Domino's Pizza by 53,740.4% during the 1st quarter. GAMMA Investing LLC now owns 260,049 shares of the restaurant operator's stock valued at $119,480,000 after acquiring an additional 259,566 shares during the last quarter. Finally, Cornerstone Wealth Group LLC boosted its position in shares of Domino's Pizza by 41.0% during the 1st quarter. Cornerstone Wealth Group LLC now owns 20,417 shares of the restaurant operator's stock valued at $9,381,000 after acquiring an additional 5,939 shares during the last quarter. Institutional investors and hedge funds own 94.63% of the company's stock.

Analysts Set New Price Targets

DPZ has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on shares of Domino's Pizza from $465.00 to $490.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 22nd. Guggenheim boosted their price objective on shares of Domino's Pizza from $485.00 to $490.00 and gave the company a "neutral" rating in a report on Wednesday, August 27th. Barclays boosted their price objective on shares of Domino's Pizza from $420.00 to $425.00 and gave the company an "underweight" rating in a report on Monday, July 21st. Benchmark boosted their price objective on shares of Domino's Pizza from $535.00 to $540.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Finally, Sanford C. Bernstein boosted their price objective on shares of Domino's Pizza from $460.00 to $490.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $490.78.

Insider Buying and Selling

In other Domino's Pizza news, Director James A. Goldman sold 1,000 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $451.49, for a total value of $451,490.00. Following the completion of the sale, the director owned 3,384 shares of the company's stock, valued at approximately $1,527,842.16. This trade represents a 22.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.83% of the company's stock.

Domino's Pizza Price Performance

Shares of DPZ stock traded down $2.37 during trading hours on Friday, reaching $460.23. 108,095 shares of the stock were exchanged, compared to its average volume of 642,666. The firm has a market capitalization of $15.62 billion, a P/E ratio of 26.68, a P/E/G ratio of 2.56 and a beta of 1.09. Domino's Pizza Inc has a 12-month low of $396.06 and a 12-month high of $500.55. The business's fifty day moving average is $458.80 and its two-hundred day moving average is $464.25.

Domino's Pizza (NASDAQ:DPZ - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The restaurant operator reported $3.81 earnings per share for the quarter, missing the consensus estimate of $3.93 by ($0.12). Domino's Pizza had a negative return on equity of 15.09% and a net margin of 12.49%.The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the business earned $4.03 earnings per share. Domino's Pizza's revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities research analysts predict that Domino's Pizza Inc will post 16.74 earnings per share for the current fiscal year.

Domino's Pizza Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $1.74 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $6.96 dividend on an annualized basis and a yield of 1.5%. Domino's Pizza's dividend payout ratio (DPR) is 40.42%.

Domino's Pizza Company Profile

Domino's Pizza, Inc, through its subsidiaries, operates as a pizza company in the United States and internationally. The company operates through three segments: U.S. Stores, International Franchise, and Supply Chain. It offers pizzas under the Domino's brand name through company-owned and franchised stores.