Domino's Pizza Inc $DPZ Position Reduced by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon cut its Domino’s Pizza stake by 29% in the first quarter, though it still held 236,291 shares worth about $84.8 million.
• Domino’s reported Q2 EPS of $4.07, missing estimates, even as revenue rose 4.3% year over year to $1.19 billion. The company also said it expects full-year earnings of 18.89 per share, according to analysts’ forecasts.
• Domino’s declared a $1.99 quarterly dividend payable September 30, implying an annualized yield of about 2.4%. The stock also remains heavily owned by institutions, which control 94.63% of shares.

Bank of New York Mellon Corp reduced its position in Domino's Pizza Inc (NASDAQ:DPZ - Free Report) by 29.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 236,291 shares of the restaurant operator's stock after selling 96,415 shares during the period. Bank of New York Mellon Corp owned about 0.71% of Domino's Pizza worth $84,779,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in DPZ. Checchi Capital Advisers LLC lifted its position in shares of Domino's Pizza by 29.3% in the 1st quarter. Checchi Capital Advisers LLC now owns 640 shares of the restaurant operator's stock valued at $230,000 after acquiring an additional 145 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Domino's Pizza by 168.4% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,691 shares of the restaurant operator's stock valued at $607,000 after purchasing an additional 1,061 shares during the period. WJ Financial Advisors LLC purchased a new stake in shares of Domino's Pizza in the first quarter valued at $689,000. Schwartz Investment Counsel Inc. purchased a new stake in shares of Domino's Pizza in the first quarter valued at $19,733,000. Finally, Arbejdsmarkedets Tillaegspension boosted its position in shares of Domino's Pizza by 26.2% in the first quarter. Arbejdsmarkedets Tillaegspension now owns 70,362 shares of the restaurant operator's stock worth $25,245,000 after buying an additional 14,611 shares during the period. Hedge funds and other institutional investors own 94.63% of the company's stock.

Domino's Pizza Trading Down 0.8%

DPZ opened at $326.34 on Wednesday. The stock has a market cap of $10.85 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 1.62 and a beta of 0.97. Domino's Pizza Inc has a 1 year low of $282.00 and a 1 year high of $486.68. The stock has a fifty day moving average price of $309.57 and a 200 day moving average price of $357.03.

Domino's Pizza (NASDAQ:DPZ - Get Free Report) last issued its earnings results on Monday, July 20th. The restaurant operator reported $4.07 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 firm had revenue of $1.19 billion during the quarter. During the same quarter in the prior year, the business earned $3.81 EPS. Domino's Pizza's quarterly revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts forecast that Domino's Pizza Inc will post 18.89 earnings per share 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. Investors of record on Tuesday, September 15th will be issued a $1.99 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $7.96 dividend on an annualized basis and a yield of 2.4%. Domino's Pizza's dividend payout ratio is currently 45.15%.

Insiders Place Their Bets

In related news, EVP Kelly E. Garcia sold 488 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $313.16, for a total transaction of $152,822.08. Following the transaction, the executive vice president owned 9,352 shares of the company's stock, valued at approximately $2,928,672.32. This trade represents a 4.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 1,950 shares of company stock worth $611,451 over the last 90 days. 0.89% of the stock is currently owned by company insiders.

Key Domino's Pizza News

Here are the key news stories impacting Domino's Pizza this week:

• Positive Sentiment: Domino’s beat revenue estimates in Q2, with sales up 4.3% year over year, and management highlighted stronger order volume across delivery and carryout. Domino's revenue beats estimates as supply-chain business offsets weak demand
• Positive Sentiment: Analysts responded with several price-target updates, including Wells Fargo raising its target to $350 and BTIG reaffirming a Buy rating with a $425 target, suggesting some confidence in the longer-term setup. These Analysts Revise Their Forecasts On Domino’s After Q2 Results
• Positive Sentiment: Free cash flow and cash flow margins were described as strong, which is helping the stock appeal to value-oriented investors after the post-earnings reaction. Domino's Pizza Delivers Strong FCF and FCF Margins - Is DPZ Stock Too Cheap?

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DPZ shares. Piper Sandler dropped their price target on Domino's Pizza from $421.00 to $359.00 and set a "neutral" rating on the stock in a research report on Monday, April 27th. Weiss Ratings cut Domino's Pizza from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, May 29th. Jefferies Financial Group dropped their target price on Domino's Pizza from $400.00 to $350.00 and set a "hold" rating on the stock in a report on Tuesday, April 28th. Gordon Haskett reduced their price target on shares of Domino's Pizza from $440.00 to $380.00 and set a "buy" rating for the company in a research report on Tuesday, April 28th. Finally, Benchmark restated a "buy" rating on shares of Domino's Pizza in a report on Tuesday. Eighteen research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $402.16.

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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