Korea Investment CORP Sells 13,419 Shares of Domino's Pizza Inc $DPZ

Key Points

• Korea Investment CORP decreased its stake in Domino's Pizza by 41.4%, selling 13,419 shares and retaining approximately 19,000 shares worth $8.73 million.
• Several large investors have increased their stakes in Domino's, with Berkshire Hathaway raising its ownership by 86.5% in the fourth quarter, now holding nearly $1 billion worth of shares.
• Domino's Pizza has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and a target price averaging $489.67, as the stock recently reported quarterly earnings that missed expectations.

Korea Investment CORP decreased its stake in shares of Domino's Pizza Inc (NASDAQ:DPZ - Free Report) by 41.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,000 shares of the restaurant operator's stock after selling 13,419 shares during the period. Korea Investment CORP owned about 0.06% of Domino's Pizza worth $8,730,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Wood Tarver Financial Group LLC bought a new position in Domino's Pizza during the 4th quarter valued at $25,000. Alpine Bank Wealth Management purchased a new stake in shares of Domino's Pizza in the first quarter valued at about $25,000. LRI Investments LLC bought a new position in shares of Domino's Pizza during the first quarter valued at about $27,000. Zions Bancorporation National Association UT purchased a new position in Domino's Pizza during the first quarter worth about $27,000. Finally, Cary Street Partners Financial LLC purchased a new position in Domino's Pizza during the fourth quarter worth about $53,000. 94.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on DPZ shares. Royal Bank Of Canada lowered shares of Domino's Pizza from an "outperform" rating to a "sector perform" rating and decreased their price objective for the company from $550.00 to $500.00 in a research note on Tuesday, July 29th. Morgan Stanley upped their target price on Domino's Pizza from $510.00 to $514.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Redburn Atlantic initiated coverage on Domino's Pizza in a report on Tuesday, June 10th. They set a "sell" rating and a $340.00 price target on the stock. Sanford C. Bernstein upped their price objective on Domino's Pizza from $460.00 to $490.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. Finally, Guggenheim lifted their target price on Domino's Pizza from $485.00 to $490.00 and gave the stock a "neutral" rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $490.78.

Domino's Pizza Price Performance

NASDAQ:DPZ traded down $1.81 on Thursday, reaching $450.74. 72,867 shares of the company's stock were exchanged, compared to its average volume of 647,704. The firm has a market cap of $15.30 billion, a price-to-earnings ratio of 26.18, a P/E/G ratio of 2.47 and a beta of 1.09. The stock has a fifty day simple moving average of $457.95 and a 200-day simple moving average of $464.88. Domino's Pizza Inc has a 52 week low of $396.06 and a 52 week high of $500.55.

Domino's Pizza (NASDAQ:DPZ - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The restaurant operator reported $3.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.93 by ($0.12). The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. Domino's Pizza had a net margin of 12.49% and a negative return on equity of 15.09%. The business's revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the firm earned $4.03 EPS. As a group, sell-side analysts predict that Domino's Pizza Inc will post 16.74 EPS for the current year.

Domino's Pizza Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $1.74 per share. The ex-dividend date is Monday, September 15th. This represents a $6.96 annualized dividend and a dividend yield of 1.5%. Domino's Pizza's dividend payout ratio is currently 40.42%.

Insider Activity at Domino's Pizza

In other news, Director James A. Goldman sold 1,000 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $451.49, for a total value of $451,490.00. Following the completion of the transaction, the director directly owned 3,384 shares of the company's stock, valued at $1,527,842.16. This trade represents a 22.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.83% of the stock is owned by insiders.

Domino's Pizza Company Profile

Domino's Pizza, Inc, through its subsidiaries, operates as a pizza company in the United States and internationally. The company operates through three segments: U.S. Stores, International Franchise, and Supply Chain. It offers pizzas under the Domino's brand name through company-owned and franchised stores.