Geode Capital Management LLC lessened its stake in shares of Domino's Pizza, Inc. (NYSE:DPZ) by 7.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 355,149 shares of the restaurant operator’s stock after selling 30,565 shares during the period. Geode Capital Management LLC owned about 0.81% of Domino's Pizza worth $67,068,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Mercantile Trust Co. bought a new stake in Domino's Pizza during the fourth quarter worth about $145,000. FNY Partners Fund LP bought a new stake in Domino's Pizza during the third quarter worth about $158,000. Acadian Asset Management LLC raised its holdings in Domino's Pizza by 3,482.1% during the fourth quarter. Acadian Asset Management LLC now owns 1,003 shares of the restaurant operator’s stock worth $190,000 after acquiring an additional 975 shares in the last quarter. Synovus Financial Corp bought a new stake in Domino's Pizza during the third quarter worth about $206,000. Finally, Advisor Partners LLC bought a new stake in Domino's Pizza during the fourth quarter worth about $231,000. Institutional investors and hedge funds own 94.20% of the company’s stock.
Several analysts recently issued reports on the company. Argus upgraded Domino's Pizza from a “hold” rating to a “buy” rating and upped their target price for the stock from $221.44 to $260.00 in a report on Wednesday, March 7th. Zacks Investment Research lowered Domino's Pizza from a “buy” rating to a “hold” rating in a report on Tuesday. Maxim Group upped their price objective on Domino's Pizza from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Deutsche Bank upped their price objective on Domino's Pizza to $220.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, Robert W. Baird assumed coverage on Domino's Pizza in a research note on Monday, March 5th. They issued an “outperform” rating and a $260.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Domino's Pizza has an average rating of “Buy” and a consensus price target of $232.00.
Domino's Pizza (NYSE:DPZ) last announced its earnings results on Tuesday, February 20th. The restaurant operator reported $2.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.94 by $0.15. The company had revenue of $891.50 million for the quarter, compared to analyst estimates of $904.79 million. Domino's Pizza had a negative return on equity of 12.02% and a net margin of 9.97%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.48 earnings per share. research analysts expect that Domino's Pizza, Inc. will post 7.93 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.97%. This is a positive change from Domino's Pizza’s previous quarterly dividend of $0.46. Domino's Pizza’s dividend payout ratio (DPR) is 31.45%.
Domino's Pizza declared that its Board of Directors has authorized a share buyback program on Tuesday, February 20th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the restaurant operator to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
In other news, CFO Jeffrey D. Lawrence sold 17,000 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $184.87, for a total transaction of $3,142,790.00. Following the transaction, the chief financial officer now owns 26,841 shares in the company, valued at $4,962,095.67. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.57% of the stock is currently owned by company insiders.
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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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