Short Interest in Domino’s Pizza Inc (DPZ) Expands By 110.7%
Domino’s Pizza Inc (NYSE:DPZ) was the recipient of a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 7,130,690 shares, an increase of 110.7% from the July 31st total of 3,384,562 shares. Currently, 14.9% of the shares of the stock are sold short. Based on an average daily volume of 1,197,976 shares, the short-interest ratio is currently 6.0 days.
Shares of Domino’s Pizza (NYSE DPZ) opened at 178.38 on Wednesday. Domino’s Pizza has a 12-month low of $145.00 and a 12-month high of $221.58. The firm has a 50-day moving average of $196.87 and a 200-day moving average of $194.37. The firm has a market cap of $8.61 billion, a P/E ratio of 35.45 and a beta of 0.35.
Domino’s Pizza (NYSE:DPZ) last posted its quarterly earnings results on Tuesday, July 25th. The restaurant operator reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.09. The business had revenue of $628.61 million during the quarter, compared to analyst estimates of $609.87 million. Domino’s Pizza had a net margin of 9.40% and a negative return on equity of 13.28%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 earnings per share. On average, equities analysts forecast that Domino’s Pizza will post $5.69 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Thursday, September 14th. Domino’s Pizza’s dividend payout ratio (DPR) is 36.65%.
Domino’s Pizza announced that its board has initiated a share repurchase program on Wednesday, August 2nd that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the restaurant operator to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
Hedge funds have recently bought and sold shares of the company. State of Wisconsin Investment Board raised its stake in Domino’s Pizza by 17.4% in the first quarter. State of Wisconsin Investment Board now owns 32,021 shares of the restaurant operator’s stock worth $5,901,000 after buying an additional 4,738 shares during the period. Turner Investments LLC bought a new stake in Domino’s Pizza during the first quarter worth about $1,491,000. V Wealth Management LLC bought a new stake in Domino’s Pizza during the second quarter worth about $293,000. Sapphire Star Partners LP raised its stake in Domino’s Pizza by 25.7% in the second quarter. Sapphire Star Partners LP now owns 1,759 shares of the restaurant operator’s stock worth $372,000 after buying an additional 360 shares during the period. Finally, Bedrijfstakpensioenfonds Voor DE Media PNO bought a new stake in Domino’s Pizza during the second quarter worth about $1,204,000. 94.28% of the stock is owned by institutional investors and hedge funds.
DPZ has been the subject of several research analyst reports. Longbow Research downgraded shares of Domino’s Pizza from a “buy” rating to a “neutral” rating in a research report on Friday, June 9th. BidaskClub upgraded shares of Domino’s Pizza from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Instinet restated a “neutral” rating and set a $198.00 price target (up previously from $196.00) on shares of Domino’s Pizza in a research report on Saturday, July 22nd. Stephens upgraded shares of Domino’s Pizza from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $210.00 to $185.00 in a research report on Wednesday, July 26th. Finally, Bank of America Corporation upped their price target on shares of Domino’s Pizza from $210.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, June 13th. Thirteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Domino’s Pizza presently has an average rating of “Hold” and a consensus price target of $193.66.
About Domino’s Pizza
Domino’s Pizza, Inc is a pizza restaurant chain company. As of January 1, 2017, the Company operated in over 13,800 locations in over 85 markets around the world. The Company operates through three segments: domestic stores, international franchise and supply chain. Its basic menu features pizza products in various sizes and crust types.
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