Fred Alger Management LLC Sells 8,367 Shares of Domino's Pizza, Inc. (NASDAQ:DPZ)

Fred Alger Management LLC decreased its stake in Domino's Pizza, Inc. (NASDAQ:DPZ - Free Report) by 39.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,784 shares of the restaurant operator's stock after selling 8,367 shares during the quarter. Fred Alger Management LLC's holdings in Domino's Pizza were worth $5,366,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its position in Domino's Pizza by 42.8% during the third quarter. Franklin Resources Inc. now owns 27,031 shares of the restaurant operator's stock valued at $11,571,000 after acquiring an additional 8,103 shares in the last quarter. ORG Wealth Partners LLC raised its holdings in shares of Domino's Pizza by 21.3% during the 4th quarter. ORG Wealth Partners LLC now owns 262 shares of the restaurant operator's stock valued at $110,000 after purchasing an additional 46 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Domino's Pizza by 3.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 4,035 shares of the restaurant operator's stock valued at $1,694,000 after purchasing an additional 122 shares during the last quarter. Czech National Bank boosted its holdings in Domino's Pizza by 5.1% in the fourth quarter. Czech National Bank now owns 7,488 shares of the restaurant operator's stock worth $3,143,000 after purchasing an additional 364 shares in the last quarter. Finally, Brookstone Capital Management increased its position in Domino's Pizza by 1.0% during the fourth quarter. Brookstone Capital Management now owns 5,628 shares of the restaurant operator's stock worth $2,362,000 after buying an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 94.63% of the company's stock.

Insider Buying and Selling

In related news, EVP Kelly E. Garcia sold 2,104 shares of Domino's Pizza stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $436.28, for a total value of $917,933.12. Following the completion of the sale, the executive vice president now directly owns 5,699 shares in the company, valued at $2,486,359.72. This trade represents a 26.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Reddy Sandeep sold 1,077 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $443.20, for a total transaction of $477,326.40. Following the transaction, the chief financial officer now owns 8,081 shares in the company, valued at approximately $3,581,499.20. The trade was a 11.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,996 shares of company stock worth $3,946,461 in the last 90 days. Corporate insiders own 0.83% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on DPZ. Robert W. Baird upped their price target on Domino's Pizza from $500.00 to $535.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. Bank of America upped their target price on Domino's Pizza from $520.00 to $549.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Hsbc Global Res raised shares of Domino's Pizza to a "strong-buy" rating in a research report on Tuesday, April 22nd. BTIG Research set a $530.00 price objective on shares of Domino's Pizza and gave the stock a "buy" rating in a report on Monday, April 28th. Finally, Loop Capital raised their target price on shares of Domino's Pizza from $555.00 to $564.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $498.50.

Domino's Pizza Stock Performance

Shares of DPZ stock traded up $2.72 during trading hours on Thursday, hitting $485.95. The company had a trading volume of 155,703 shares, compared to its average volume of 623,870. Domino's Pizza, Inc. has a 12 month low of $396.06 and a 12 month high of $538.44. The firm's fifty day moving average is $464.61 and its 200 day moving average is $453.27. The firm has a market capitalization of $16.64 billion, a price-to-earnings ratio of 29.89, a PEG ratio of 2.47 and a beta of 1.15.

Domino's Pizza (NASDAQ:DPZ - Get Free Report) last announced its earnings results on Monday, April 28th. The restaurant operator reported $4.33 EPS for the quarter, topping the consensus estimate of $4.12 by $0.21. Domino's Pizza had a negative return on equity of 14.35% and a net margin of 12.26%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business earned $3.58 EPS. Domino's Pizza's revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts expect that Domino's Pizza, Inc. will post 16.74 EPS for the current fiscal year.

Domino's Pizza Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $1.74 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.96 dividend on an annualized basis and a dividend yield of 1.43%. Domino's Pizza's dividend payout ratio is 39.91%.

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.