Fisher Asset Management LLC Decreases Stock Position in Domino's Pizza Inc $DPZ

Key Points

• Fisher Asset Management cut its stake in Domino's by 61.0% in Q3, selling 45,960 shares and leaving it with 29,350 shares valued at about $12.67 million (0.09% ownership).
• EVP Kelly E. Garcia sold 4,870 shares at an average price of $434.06 for roughly $2.11 million, a reduction of about 41.93% in her holdings; insiders now own 0.83% of the stock.
• Domino's raised its quarterly dividend to $1.99 (annualized $7.96, ~2.0% yield), reported a slight EPS miss for the quarter ($5.35 vs. $5.38), and holds a MarketBeat consensus rating of "Hold" with an average price target of $475.71.

Fisher Asset Management LLC cut its stake in Domino's Pizza Inc (NASDAQ:DPZ - Free Report) by 61.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,350 shares of the restaurant operator's stock after selling 45,960 shares during the period. Fisher Asset Management LLC owned 0.09% of Domino's Pizza worth $12,671,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of DPZ. Atlantic Union Bankshares Corp purchased a new stake in Domino's Pizza in the 2nd quarter worth approximately $34,000. CYBER HORNET ETFs LLC purchased a new position in shares of Domino's Pizza in the second quarter worth about $42,000. Westpac Banking Corp lifted its stake in shares of Domino's Pizza by 31.2% in the second quarter. Westpac Banking Corp now owns 101 shares of the restaurant operator's stock worth $46,000 after buying an additional 24 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in Domino's Pizza during the 2nd quarter valued at about $46,000. Finally, Smartleaf Asset Management LLC raised its holdings in Domino's Pizza by 64.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 110 shares of the restaurant operator's stock valued at $48,000 after acquiring an additional 43 shares during the last quarter. Institutional investors and hedge funds own 94.63% of the company's stock.

Insider Activity

In related news, EVP Kelly E. Garcia sold 4,870 shares of the stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $434.06, for a total value of $2,113,872.20. Following the transaction, the executive vice president directly owned 6,744 shares of the company's stock, valued at $2,927,300.64. This trade represents a 41.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.83% of the company's stock.

Wall Street Analysts Forecast Growth

DPZ has been the topic of several recent research reports. William Blair set a $540.00 target price on Domino's Pizza in a report on Monday, February 23rd. Barclays dropped their target price on Domino's Pizza from $405.00 to $370.00 and set an "underweight" rating for the company in a report on Wednesday, January 7th. Guggenheim reduced their price target on Domino's Pizza from $450.00 to $440.00 and set a "neutral" rating on the stock in a report on Wednesday, February 25th. UBS Group set a $500.00 price objective on shares of Domino's Pizza and gave the stock a "buy" rating in a research report on Friday, February 13th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Domino's Pizza in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Domino's Pizza currently has a consensus rating of "Hold" and an average price target of $475.71.

Domino's Pizza Stock Performance

NASDAQ DPZ opened at $406.62 on Thursday. The firm has a 50 day simple moving average of $403.03 and a 200-day simple moving average of $418.61. The firm has a market cap of $13.67 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 1.76 and a beta of 1.16. Domino's Pizza Inc has a one year low of $370.70 and a one year high of $499.08.

Domino's Pizza (NASDAQ:DPZ - Get Free Report) last announced its quarterly earnings data on Monday, February 23rd. The restaurant operator reported $5.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.38 by ($0.03). The company had revenue of $1.54 billion during the quarter. Domino's Pizza had a net margin of 12.18% and a negative return on equity of 15.28%. The company's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.89 EPS. Equities analysts predict that Domino's Pizza Inc will post 16.74 EPS for the current fiscal year.

Domino's Pizza Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, March 13th will be issued a $1.99 dividend. This represents a $7.96 dividend on an annualized basis and a yield of 2.0%. This is a positive change from Domino's Pizza's previous quarterly dividend of $1.74. The ex-dividend date of this dividend is Friday, March 13th. Domino's Pizza's dividend payout ratio is currently 39.61%.

Domino's Pizza 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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