Envestnet Asset Management Inc. Sells 166,933 Shares of Domino’s Pizza Inc $DPZ

Envestnet Asset Management Inc. trimmed its position in shares of Domino’s Pizza Inc (NASDAQ:DPZ) by 32.7% during the third quarter, Holdings Channel.com reports. The firm owned 344,273 shares of the restaurant operator’s stock after selling 166,933 shares during the period. Envestnet Asset Management Inc.’s holdings in Domino’s Pizza were worth $148,626,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC raised its holdings in Domino’s Pizza by 4.9% during the second quarter. Janney Montgomery Scott LLC now owns 3,046 shares of the restaurant operator’s stock worth $1,373,000 after buying an additional 141 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Domino’s Pizza during the second quarter worth about $101,000. QRG Capital Management Inc. raised its holdings in shares of Domino’s Pizza by 4.5% in the 2nd quarter. QRG Capital Management Inc. now owns 654 shares of the restaurant operator’s stock worth $295,000 after acquiring an additional 28 shares during the last quarter. Belpointe Asset Management LLC bought a new position in Domino’s Pizza in the 2nd quarter valued at about $264,000. Finally, KLP Kapitalforvaltning AS boosted its stake in Domino’s Pizza by 2.2% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 18,390 shares of the restaurant operator’s stock valued at $8,287,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 94.63% of the company’s stock.

Insider Transactions at Domino’s Pizza

In other Domino’s Pizza news, EVP Kelly E. Garcia sold 4,870 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $434.06, for a total value of $2,113,872.20. Following the completion of the sale, the executive vice president directly owned 6,744 shares of the company’s stock, valued at $2,927,300.64. This trade represents a 41.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on DPZ shares. Barclays decreased their price objective on Domino’s Pizza from $405.00 to $370.00 and set an “underweight” rating for the company in a report on Wednesday, January 7th. Piper Sandler reiterated a “neutral” rating and set a $445.00 price target on shares of Domino’s Pizza in a report on Monday, November 24th. Mizuho raised Domino’s Pizza to a “strong-buy” rating in a research report on Tuesday, October 28th. Stifel Nicolaus cut their price objective on shares of Domino’s Pizza from $510.00 to $485.00 and set a “buy” rating on the stock in a report on Wednesday, January 7th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $490.00 target price on shares of Domino’s Pizza in a research note on Tuesday, December 2nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Domino’s Pizza has a consensus rating of “Hold” and a consensus target price of $480.56.

Domino’s Pizza Stock Up 0.4%

Shares of DPZ stock opened at $394.88 on Friday. The firm has a market cap of $13.34 billion, a P/E ratio of 23.08, a PEG ratio of 1.86 and a beta of 1.15. The company has a 50 day moving average of $415.80 and a 200-day moving average of $427.40. Domino’s Pizza Inc has a 12-month low of $382.47 and a 12-month high of $500.55.

About Domino’s Pizza

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.