Domino's Pizza Inc $DPZ Stock Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Domino’s Pizza stake by 64.1% in the third quarter, selling 8,901 shares and retaining 4,977 shares valued at approximately $1.49 million. Institutional investors collectively own 94.63% of DPZ.
• Wall Street maintains a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $380.87, above the reported share price of $317.70.
• Domino’s reported quarterly earnings of $4.60 per share, exceeding estimates of $4.33, while revenue rose 3.4% year over year to $1.19 billion. The company also declared a $1.99 quarterly dividend, representing a 2.5% annualized yield.

Assenagon Asset Management S.A. lessened its holdings in Domino's Pizza Inc (NASDAQ:DPZ - Free Report) by 64.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,977 shares of the restaurant operator's stock after selling 8,901 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Domino's Pizza were worth $1,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of DPZ. Soroban Capital Partners LP bought a new stake in shares of Domino's Pizza in the first quarter valued at $895,251,000. BlackRock Inc. purchased a new stake in Domino's Pizza in the 2nd quarter worth approximately $715,704,000. Arrowstreet Capital Limited Partnership boosted its stake in Domino's Pizza by 247.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 527,246 shares of the restaurant operator's stock valued at $189,171,000 after buying an additional 375,709 shares during the period. Royal Bank of Canada boosted its position in shares of Domino's Pizza by 5.2% during 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 last quarter. Finally, Van ECK Associates Corp increased its position in shares of Domino's Pizza by 937,192.2% in the second quarter. Van ECK Associates Corp now owns 478,019 shares of the restaurant operator's stock worth $141,513,000 after purchasing an additional 477,968 shares during the last quarter. Institutional investors own 94.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DPZ shares. BTIG Research reaffirmed a "buy" rating and issued a $425.00 target price on shares of Domino's Pizza in a research note on Wednesday, October 14th. Berenberg Bank raised shares of Domino's Pizza to a "strong-buy" rating in a research note on Monday, October 5th. Evercore reissued an "outperform" rating on shares of Domino's Pizza in a report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Domino's Pizza from $435.00 to $385.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Finally, Benchmark reaffirmed a "buy" rating on shares of Domino's Pizza in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $380.87.

Domino's Pizza Stock Performance

DPZ stock opened at $317.70 on Friday. Domino's Pizza Inc has a 52 week low of $282.00 and a 52 week high of $442.35. The firm's fifty day moving average is $317.51 and its 200 day moving average is $324.93. The firm has a market cap of $10.45 billion, a P/E ratio of 17.50, a P/E/G ratio of 1.44 and a beta of 0.94.

Domino's Pizza (NASDAQ:DPZ - Get Free Report) last issued its earnings results on Tuesday, October 13th. The restaurant operator reported $4.60 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.19 billion for the quarter. During the same quarter in the previous year, the business earned $4.08 EPS. Domino's Pizza's revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, analysts forecast that Domino's Pizza Inc will post 19.04 EPS for the current year.

Domino's Pizza Dividend Announcement

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 issued a $1.99 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $7.96 annualized dividend and a dividend yield of 2.5%. Domino's Pizza's payout ratio is currently 43.86%.

About Domino's Pizza

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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