Granite Bay Wealth Management LLC Takes Position in Domino’s Pizza, Inc. (NYSE:DPZ)

Granite Bay Wealth Management LLC bought a new position in Domino’s Pizza, Inc. (NYSE:DPZ) in the 2nd quarter, HoldingsChannel reports. The fund bought 12,600 shares of the restaurant operator’s stock, valued at approximately $6,423,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Domino’s Pizza by 5.8% in the first quarter. Vanguard Group Inc. now owns 4,098,664 shares of the restaurant operator’s stock worth $2,036,544,000 after purchasing an additional 222,949 shares in the last quarter. Coatue Management LLC acquired a new position in Domino’s Pizza in the 4th quarter valued at approximately $322,859,000. Marshfield Associates boosted its stake in Domino’s Pizza by 0.3% during the second quarter. Marshfield Associates now owns 713,481 shares of the restaurant operator’s stock worth $368,392,000 after buying an additional 2,271 shares in the last quarter. TD Asset Management Inc increased its stake in Domino’s Pizza by 27.8% in the first quarter. TD Asset Management Inc now owns 635,335 shares of the restaurant operator’s stock valued at $315,685,000 after acquiring an additional 138,224 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Domino’s Pizza by 107.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 444,780 shares of the restaurant operator’s stock worth $221,003,000 after buying an additional 230,090 shares in the last quarter. Hedge funds and other institutional investors own 94.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DPZ. Benchmark reduced their price target on shares of Domino’s Pizza from $575.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. JPMorgan Chase & Co. increased their price objective on shares of Domino’s Pizza from $450.00 to $470.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Guggenheim reduced their target price on Domino’s Pizza from $485.00 to $460.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. Loop Capital reiterated a “hold” rating and set a $419.00 target price on shares of Domino’s Pizza in a report on Friday, September 20th. Finally, Robert W. Baird lowered their price objective on shares of Domino’s Pizza from $580.00 to $535.00 and set an “outperform” rating for the company in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $506.28.

Domino’s Pizza Price Performance

Shares of NYSE DPZ opened at $430.13 on Tuesday. The stock’s fifty day moving average price is $422.81 and its two-hundred day moving average price is $471.86. The firm has a market cap of $15.00 billion, a price-to-earnings ratio of 28.08, a P/E/G ratio of 2.21 and a beta of 0.86. Domino’s Pizza, Inc. has a one year low of $330.05 and a one year high of $542.75.

Domino’s Pizza (NYSE:DPZ) last issued its quarterly earnings results on Thursday, July 18th. The restaurant operator reported $4.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.68 by $0.35. Domino’s Pizza had a negative return on equity of 14.22% and a net margin of 12.42%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the company posted $3.08 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities analysts anticipate that Domino’s Pizza, Inc. will post 16.24 earnings per share for the current fiscal year.

Domino’s Pizza Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a $1.51 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.40%. Domino’s Pizza’s dividend payout ratio (DPR) is currently 39.43%.

Domino’s Pizza Company Profile

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.