Jennison Associates LLC Boosts Stock Holdings in Domino's Pizza Inc $DPZ

Key Points

• Jennison Associates LLC increased its Domino’s Pizza stake by 45.6% in the first quarter, buying 62,792 additional shares and bringing its total to 200,395 shares worth about $71.9 million.
• Institutional ownership remains dominant, with hedge funds and other institutions holding 94.63% of Domino’s stock; several large investors also added to their positions recently.
• Wall Street sentiment is still broadly positive but more cautious, with a Moderate Buy consensus and an average price target of $400.57, even as several analysts trimmed their targets after Domino’s reported a quarterly EPS miss.

Jennison Associates LLC lifted its position in Domino's Pizza Inc (NASDAQ:DPZ - Free Report) by 45.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,395 shares of the restaurant operator's stock after acquiring an additional 62,792 shares during the quarter. Jennison Associates LLC owned approximately 0.60% of Domino's Pizza worth $71,900,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Berkshire Hathaway Inc boosted its holdings in Domino's Pizza by 12.3% during the fourth quarter. Berkshire Hathaway Inc now owns 3,350,000 shares of the restaurant operator's stock worth $1,396,347,000 after purchasing an additional 368,055 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Domino's Pizza by 0.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,008,278 shares of the restaurant operator's stock valued at $837,091,000 after buying an additional 7,497 shares during the last quarter. State Street Corp increased its stake in Domino's Pizza by 3.8% in the 4th quarter. State Street Corp now owns 1,368,924 shares of the restaurant operator's stock valued at $570,595,000 after buying an additional 49,613 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Domino's Pizza by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,026,391 shares of the restaurant operator's stock worth $432,033,000 after buying an additional 19,019 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Domino's Pizza by 4.5% during the 4th quarter. Invesco Ltd. now owns 961,000 shares of the restaurant operator's stock worth $400,564,000 after buying an additional 41,170 shares in the last quarter. Hedge funds and other institutional investors own 94.63% of the company's stock.

Wall Street Analysts Forecast Growth

DPZ has been the subject of several recent analyst reports. Loop Capital reduced their target price on Domino's Pizza from $574.00 to $500.00 and set a "buy" rating for the company in a report on Tuesday, April 28th. DA Davidson dropped their price target on Domino's Pizza from $436.00 to $423.00 and set a "buy" rating on the stock in a report on Wednesday, April 29th. BTIG Research cut their price objective on Domino's Pizza from $450.00 to $425.00 and set a "buy" rating on the stock in a research report on Tuesday, June 23rd. Wells Fargo & Company reduced their price objective on Domino's Pizza from $350.00 to $325.00 and set an "equal weight" rating for the company in a research note on Thursday. Finally, TD Cowen decreased their target price on Domino's Pizza from $350.00 to $295.00 and set a "hold" rating for the company in a research report on Thursday, July 9th. Seventeen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $400.57.

Insider Activity at Domino's Pizza

In other news, EVP Kelly E. Garcia sold 488 shares of the company's stock in a transaction on Thursday, May 21st. The stock was 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 $2,928,672.32. This represents a 4.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 1,950 shares of company stock worth $611,451. 0.89% of the stock is owned by corporate insiders.

Domino's Pizza Price Performance

Shares of DPZ stock opened at $322.18 on Monday. The company has a 50 day moving average of $308.93 and a 200-day moving average of $358.32. Domino's Pizza Inc has a 12-month low of $282.00 and a 12-month high of $496.00. The firm has a market cap of $10.72 billion, a P/E ratio of 18.55, a PEG ratio of 1.55 and a beta of 0.97.

Domino's Pizza (NASDAQ:DPZ - Get Free Report) last posted its quarterly earnings data on Monday, April 27th. The restaurant operator reported $4.13 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.16). Domino's Pizza had a net margin of 11.89% and a negative return on equity of 15.04%. The firm had revenue of $1.15 billion during the quarter. During the same quarter last year, the firm posted $4.33 EPS. The company's revenue was up 3.5% compared to the same quarter last year. As a group, equities analysts expect that Domino's Pizza Inc will post 18.88 EPS for the current year.

Domino's Pizza Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $1.99 dividend. The ex-dividend date was Monday, June 15th. This represents a $7.96 annualized dividend and a dividend yield of 2.5%. Domino's Pizza's payout ratio is presently 45.83%.

About Domino's Pizza

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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