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Korea Investment CORP Decreases Stock Holdings in Domino's Pizza Inc $DPZ

Domino's Pizza logo with Retail/Wholesale background
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Key Points

  • Korea Investment CORP trimmed its stake in Domino's by 53.3% in Q3, selling 17,672 shares and leaving 15,453 shares valued at about $6.67 million per its Form 13F filing.
  • EVP Kelly E. Garcia sold 4,870 shares at an average of $434.06 (~$2.11 million), reducing their ownership by 41.93%; company insiders now own about 0.83% of the stock.
  • Domino's raised its quarterly dividend to $1.99 (from $1.74), payable Mar 30 with an ex-dividend date of Mar 13 (≈2.0% yield), while Q4 EPS of $5.35 narrowly missed estimates by $0.03 as revenue rose 6.4% year-over-year.
  • MarketBeat previews the top five stocks to own by May 1st.

Korea Investment CORP trimmed its position in shares of Domino's Pizza Inc (NASDAQ:DPZ - Free Report) by 53.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,453 shares of the restaurant operator's stock after selling 17,672 shares during the period. Korea Investment CORP's holdings in Domino's Pizza were worth $6,671,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of DPZ. CYBER HORNET ETFs LLC bought a new stake in shares of Domino's Pizza in the second quarter worth about $42,000. Westpac Banking Corp raised its position in Domino's Pizza by 31.2% during the 2nd quarter. Westpac Banking Corp now owns 101 shares of the restaurant operator's stock valued at $46,000 after purchasing an additional 24 shares during the last quarter. MUFG Securities EMEA plc purchased a new stake in Domino's Pizza in the 2nd quarter worth approximately $46,000. Smartleaf Asset Management LLC grew its position in shares of Domino's Pizza by 64.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 110 shares of the restaurant operator's stock worth $48,000 after buying an additional 43 shares during the last quarter. Finally, Activest Wealth Management increased its stake in shares of Domino's Pizza by 411.5% during the third quarter. Activest Wealth Management now owns 133 shares of the restaurant operator's stock valued at $58,000 after buying an additional 107 shares during the period. 94.63% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Domino's Pizza news, EVP Kelly E. Garcia sold 4,870 shares of the firm's stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $434.06, for a total transaction of $2,113,872.20. Following the completion of the transaction, the executive vice president owned 6,744 shares of the company's stock, valued at approximately $2,927,300.64. This trade represents a 41.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.83% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Benchmark restated a "buy" rating on shares of Domino's Pizza in a report on Monday, February 23rd. Barclays reduced their price objective on shares of Domino's Pizza from $405.00 to $370.00 and set an "underweight" rating on the stock in a research report on Wednesday, January 7th. Guggenheim decreased their price objective on shares of Domino's Pizza from $450.00 to $440.00 and set a "neutral" rating for the company in a report on Wednesday, February 25th. Piper Sandler reaffirmed a "neutral" rating and set a $445.00 target price on shares of Domino's Pizza in a research note on Monday, November 24th. Finally, Hovde Group set a $460.00 price target on shares of Domino's Pizza in a research report on Monday, January 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $475.71.

Check Out Our Latest Stock Report on Domino's Pizza

Key Headlines Impacting Domino's Pizza

Here are the key news stories impacting Domino's Pizza this week:

Domino's Pizza Trading Up 0.7%

DPZ opened at $395.98 on Friday. The company has a market cap of $13.32 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 1.70 and a beta of 1.16. The stock has a fifty day simple moving average of $400.74 and a two-hundred day simple moving average of $416.95. Domino's Pizza Inc has a 12-month low of $370.70 and a 12-month high of $499.08.

Domino's Pizza (NASDAQ:DPZ - Get Free Report) last announced its earnings results on Monday, February 23rd. The restaurant operator reported $5.35 EPS for the quarter, missing analysts' consensus estimates of $5.38 by ($0.03). The business had revenue of $1.54 billion for 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 previous year, the business posted $4.89 EPS. On average, analysts predict that Domino's Pizza Inc will post 16.74 EPS for the current year.

Domino's Pizza Increases Dividend

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

About Domino's Pizza

(Free Report)

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.

Read More

Want to see what other hedge funds are holding DPZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Domino's Pizza Inc (NASDAQ:DPZ - Free Report).

Institutional Ownership by Quarter for Domino's Pizza (NASDAQ:DPZ)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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