Domino's Pizza Inc $DPZ Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management cut its Domino’s Pizza stake by 75.4% in the third quarter, selling 3,578 shares and retaining 1,168 shares valued at approximately $350,000. Institutional investors and hedge funds collectively own 94.63% of the stock.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $380.87, although several firms recently lowered their targets. Domino’s shares opened at $313.61, well below their 52-week high of $442.35.
• Domino’s exceeded quarterly earnings expectations, reporting $4.60 in EPS versus a $4.33 estimate, while revenue rose 3.4% year over year to $1.19 billion. The company also declared a quarterly dividend of $1.99 per share, representing a 2.5% annualized yield.

Sumitomo Mitsui DS Asset Management Company Ltd lowered its stake in shares of Domino's Pizza Inc (NASDAQ:DPZ - Free Report) by 75.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,168 shares of the restaurant operator's stock after selling 3,578 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Domino's Pizza were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Royal Bank of Canada raised its position in shares of Domino's Pizza by 5.2% in the 1st quarter. Royal Bank of Canada now owns 448,221 shares of the restaurant operator's stock valued at $160,817,000 after acquiring an additional 22,320 shares during the period. Andra AP fonden grew its holdings in Domino's Pizza by 904.5% during the second quarter. Andra AP fonden now owns 15,790 shares of the restaurant operator's stock valued at $4,674,000 after purchasing an additional 14,218 shares during the period. Nykredit A S acquired a new position in Domino's Pizza during the second quarter valued at approximately $4,015,000. Pictet Asset Management Holding SA grew its holdings in Domino's Pizza by 85.0% during the first quarter. Pictet Asset Management Holding SA now owns 27,942 shares of the restaurant operator's stock valued at $10,023,000 after purchasing an additional 12,839 shares during the period. Finally, Sei Investments Co. grew its holdings in Domino's Pizza by 28.7% during the first quarter. Sei Investments Co. now owns 105,424 shares of the restaurant operator's stock valued at $37,827,000 after purchasing an additional 23,498 shares during the period. 94.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Oppenheimer lowered their target price on shares of Domino's Pizza from $465.00 to $415.00 and set an "outperform" rating for the company in a research note on Tuesday, July 21st. Citigroup reduced their price target on shares of Domino's Pizza from $335.00 to $308.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 14th. Morgan Stanley decreased their price target on shares of Domino's Pizza from $357.00 to $345.00 and set an "equal weight" rating for the company in a report on Wednesday, October 14th. KeyCorp restated a "sector weight" rating on shares of Domino's Pizza in a research report on Wednesday, October 14th. Finally, TD Cowen restated a "hold" rating and issued a $320.00 price objective on shares of Domino's Pizza in a research report on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $380.87.

Domino's Pizza Stock Performance

Shares of Domino's Pizza stock opened at $313.61 on Friday. The business's 50 day simple moving average is $316.86 and its 200 day simple moving average is $324.85. The firm has a market cap of $10.32 billion, a PE ratio of 17.28, a P/E/G ratio of 1.47 and a beta of 0.94. Domino's Pizza Inc has a 52-week low of $282.00 and a 52-week high of $442.35.

Domino's Pizza (NASDAQ:DPZ - Get Free Report) last announced its earnings results on Tuesday, October 13th. The restaurant operator reported $4.60 EPS for the quarter, topping the consensus estimate of $4.33 by $0.27. Domino's Pizza had a net margin of 12.03% and a negative return on equity of 15.48%. The business had revenue of $1.19 billion during the quarter. During the same quarter in the previous year, the company posted $4.08 EPS. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities research analysts predict that Domino's Pizza Inc will post 19.06 EPS for the current year.

Domino's Pizza Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 15th will be paid a dividend of $1.99 per share. The ex-dividend date is Tuesday, December 15th. This represents a $7.96 dividend on an annualized basis and a dividend yield of 2.5%. Domino's Pizza's dividend payout ratio is currently 43.86%.

Domino's Pizza Company Profile

Domino's Pizza, Inc is a global restaurant company that operates and franchises Domino's-branded pizza stores. Its core business focuses on pizza delivery and carryout, supported by digital ordering platforms, delivery technology and a supply chain that provides food and related products to stores.

The company's menu includes a variety of pizzas, along with items such as chicken, sandwiches, pasta, bread products, desserts and beverages. Domino's serves customers through a combination of company-owned and franchised locations, with franchisees operating the majority of its stores.

Founded in 1960 when Tom and James Monaghan acquired a small Michigan pizzeria, the business adopted the Domino's name in 1965 and expanded through franchising.

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