Truist Financial Corp Acquires 71,700 Shares of Domino's Pizza Inc $DPZ

Key Points

• Truist Financial Corp significantly increased its stake in Domino's Pizza, acquiring an additional 71,700 shares, bringing their total ownership to 73,642 shares worth approximately $33.2 million.
• Several institutional investors are also actively buying Domino's Pizza stock, leading to 94.63% ownership by institutional investors as of the latest reports.
• Domino's recently announced a quarterly dividend of $1.74 per share, resulting in an annualized yield of 1.6% and a payout ratio of 40.42%.

Truist Financial Corp increased its holdings in shares of Domino's Pizza Inc (NASDAQ:DPZ - Free Report) by 3,692.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 73,642 shares of the restaurant operator's stock after acquiring an additional 71,700 shares during the quarter. Truist Financial Corp owned about 0.22% of Domino's Pizza worth $33,183,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of DPZ. Charles Schwab Investment Management Inc. bought a new position in shares of Domino's Pizza during the first quarter worth approximately $110,348,000. Invesco Ltd. increased its stake in Domino's Pizza by 32.9% during the 1st quarter. Invesco Ltd. now owns 809,658 shares of the restaurant operator's stock worth $371,997,000 after acquiring an additional 200,622 shares during the period. Bristol Gate Capital Partners Inc. acquired a new position in Domino's Pizza in the 1st quarter valued at $92,085,000. Nuveen LLC bought a new stake in shares of Domino's Pizza during the 1st quarter valued at $45,344,000. Finally, Woodline Partners LP grew its holdings in shares of Domino's Pizza by 237.9% during the 1st quarter. Woodline Partners LP now owns 85,704 shares of the restaurant operator's stock worth $39,377,000 after purchasing an additional 60,337 shares in the last quarter. Institutional investors own 94.63% of the company's stock.

Insider Activity

In related news, Director James A. Goldman sold 1,000 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $451.49, for a total value of $451,490.00. Following the sale, the director owned 3,384 shares in the company, valued at $1,527,842.16. This represents a 22.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

DPZ has been the subject of several analyst reports. Citigroup dropped their target price on shares of Domino's Pizza from $500.00 to $480.00 and set a "neutral" rating for the company in a research report on Tuesday. UBS Group restated a "buy" rating and set a $540.00 price objective on shares of Domino's Pizza in a research report on Tuesday, July 22nd. Benchmark raised their target price on Domino's Pizza from $535.00 to $540.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Redburn Atlantic started coverage on Domino's Pizza in a research report on Tuesday, June 10th. They set a "sell" rating and a $340.00 price objective for the company. Finally, Loop Capital raised their price objective on Domino's Pizza from $564.00 to $574.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Domino's Pizza has an average rating of "Moderate Buy" and an average target price of $490.04.

Domino's Pizza Stock Performance

Domino's Pizza stock opened at $431.24 on Friday. The firm has a market cap of $14.64 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 2.35 and a beta of 1.12. Domino's Pizza Inc has a 52-week low of $397.12 and a 52-week high of $500.55. The firm has a 50 day moving average price of $449.38 and a two-hundred day moving average price of $460.97.

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

Domino's Pizza Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $1.74 per share. The ex-dividend date was Monday, September 15th. This represents a $6.96 annualized dividend and a yield of 1.6%. Domino's Pizza's dividend payout ratio is presently 40.42%.

About Domino's Pizza

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.

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