Fred Alger Management LLC Cuts Stake in Domino’s Pizza, Inc. (NASDAQ:DPZ)

Fred Alger Management LLC lessened its position in Domino’s Pizza, Inc. (NASDAQ:DPZ) by 39.6% during the 4th quarter, HoldingsChannel.com reports. The fund 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 reporting period.

A number of other institutional investors have also recently made changes to their positions in DPZ. Berkshire Hathaway Inc boosted its stake in Domino’s Pizza by 86.5% during the fourth quarter. Berkshire Hathaway Inc now owns 2,382,000 shares of the restaurant operator’s stock worth $999,868,000 after buying an additional 1,104,744 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Domino’s Pizza by 1.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,687,863 shares of the restaurant operator’s stock valued at $708,498,000 after acquiring an additional 21,705 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Domino’s Pizza by 10.7% in the fourth quarter. Geode Capital Management LLC now owns 955,160 shares of the restaurant operator’s stock valued at $403,203,000 after purchasing an additional 92,389 shares during the period. Invesco Ltd. increased its position in Domino’s Pizza by 46.0% during the fourth quarter. Invesco Ltd. now owns 609,036 shares of the restaurant operator’s stock worth $255,649,000 after purchasing an additional 191,752 shares during the last quarter. Finally, Norges Bank purchased a new position in Domino’s Pizza during the fourth quarter worth about $250,571,000. 94.63% of the stock is owned by institutional investors and hedge funds.

Domino’s Pizza Stock Up 0.5 %

Shares of Domino’s Pizza stock opened at $479.37 on Friday. Domino’s Pizza, Inc. has a 52-week low of $396.06 and a 52-week high of $538.44. The company has a 50 day moving average of $464.18 and a 200 day moving average of $451.90. The company has a market capitalization of $16.41 billion, a P/E ratio of 29.45, a P/E/G ratio of 2.47 and a beta of 1.15.

Domino’s Pizza (NASDAQ:DPZ) last released its quarterly earnings data on Monday, April 28th. The restaurant operator reported $4.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.12 by $0.21. Domino’s Pizza had a net margin of 12.26% and a negative return on equity of 14.35%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the company earned $3.58 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, research analysts anticipate that Domino’s Pizza, Inc. will post 16.74 earnings per share for the current fiscal year.

Domino’s Pizza Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $1.74 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.96 dividend on an annualized basis and a dividend yield of 1.45%. Domino’s Pizza’s payout ratio is currently 39.91%.

Insider Transactions at Domino’s Pizza

In other news, EVP Reddy Sandeep sold 399 shares of Domino’s Pizza stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $462.18, for a total transaction of $184,409.82. Following the sale, the executive vice president now owns 8,756 shares in the company, valued at approximately $4,046,848.08. The trade was a 4.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelly E. Garcia sold 2,104 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were 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 of the company’s stock, valued at approximately $2,486,359.72. This trade represents a 26.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,996 shares of company stock valued at $3,946,461. Corporate insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DPZ. Guggenheim raised their price target on shares of Domino’s Pizza from $450.00 to $460.00 and gave the stock a “neutral” rating in a report on Tuesday, April 22nd. Hsbc Global Res raised Domino’s Pizza to a “strong-buy” rating in a research note on Tuesday, April 22nd. Wedbush reaffirmed an “outperform” rating and issued a $500.00 price target on shares of Domino’s Pizza in a research note on Tuesday, February 25th. Loop Capital raised their price objective on Domino’s Pizza from $555.00 to $564.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Finally, Morgan Stanley upped their target price on shares of Domino’s Pizza from $492.00 to $510.00 and gave the company an “overweight” rating in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Domino’s Pizza presently has a consensus rating of “Moderate Buy” and a consensus price target of $498.50.

Domino’s Pizza 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.