Palisade Capital Management LP Invests $14.74 Million in Domino’s Pizza Inc $DPZ

Palisade Capital Management LP purchased a new stake in shares of Domino’s Pizza Inc (NASDAQ:DPZ) during the second quarter, Holdings Channel reports. The fund purchased 49,795 shares of the restaurant operator’s stock, valued at approximately $14,741,000.

Other large investors have also recently bought and sold shares of the company. Jump Financial LLC acquired a new stake in shares of Domino’s Pizza in the second quarter worth about $3,183,000. Investment Management Corp of Ontario increased its holdings in shares of Domino’s Pizza by 68.3% during the 2nd quarter. Investment Management Corp of Ontario now owns 1,594 shares of the restaurant operator’s stock valued at $718,000 after acquiring an additional 647 shares during the last quarter. Sei Investments Co. raised its stake in shares of Domino’s Pizza by 21.7% in the 2nd quarter. Sei Investments Co. now owns 80,964 shares of the restaurant operator’s stock valued at $36,480,000 after acquiring an additional 14,452 shares in the last quarter. Glenview Trust co raised its stake in shares of Domino’s Pizza by 36.9% in the 2nd quarter. Glenview Trust co now owns 1,135 shares of the restaurant operator’s stock valued at $511,000 after acquiring an additional 306 shares in the last quarter. Finally, HUB Investment Partners LLC lifted its holdings in Domino’s Pizza by 17.3% in the 2nd quarter. HUB Investment Partners LLC now owns 1,322 shares of the restaurant operator’s stock worth $596,000 after purchasing an additional 195 shares during the last quarter. 94.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DPZ shares. Loop Capital restated a “hold” rating and issued a $353.00 price objective on shares of Domino’s Pizza in a research note on Monday, August 10th. Oppenheimer lowered their target price on shares of Domino’s Pizza from $465.00 to $415.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 21st. Evercore reiterated an “outperform” rating on shares of Domino’s Pizza in a report on Thursday, July 9th. BMO Capital Markets cut their target price on shares of Domino’s Pizza from $450.00 to $420.00 and set an “outperform” rating for the company in a research report on Tuesday, July 21st. Finally, The Goldman Sachs Group decreased their price target on shares of Domino’s Pizza from $480.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Sixteen analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $397.42.

Domino’s Pizza Trading Up 0.3%

Shares of DPZ stock opened at $349.91 on Wednesday. Domino’s Pizza Inc has a 1 year low of $282.00 and a 1 year high of $469.00. The firm’s fifty day simple moving average is $326.86 and its 200 day simple moving average is $346.39. The firm has a market capitalization of $11.58 billion, a P/E ratio of 19.85, a price-to-earnings-growth ratio of 1.68 and a beta of 0.94.

Domino’s Pizza (NASDAQ:DPZ) last released its earnings results on Monday, July 20th. The restaurant operator reported $4.07 EPS for the quarter, missing the consensus estimate of $4.17 by ($0.10). Domino’s Pizza had a net margin of 11.86% and a negative return on equity of 15.15%. The company had revenue of $1.19 billion for the quarter. During the same period in the prior year, the firm posted $3.81 EPS. Domino’s Pizza’s revenue was up 4.3% on a year-over-year basis. Equities research analysts anticipate that Domino’s Pizza Inc will post 18.88 EPS for the current fiscal year.

Domino’s Pizza Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $1.99 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $7.96 dividend on an annualized basis and a dividend yield of 2.3%. Domino’s Pizza’s dividend payout ratio is currently 45.15%.

Insider Transactions at Domino’s Pizza

In related news, EVP Kelly E. Garcia sold 12,430 shares of Domino’s Pizza stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $322.04, for a total transaction of $4,002,957.20. Following the sale, the executive vice president directly owned 9,352 shares of the company’s stock, valued at $3,011,718.08. This trade represents a 57.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Russell J. Weiner sold 10,850 shares of the business’s stock in a transaction dated Friday, July 17th. The shares were sold at an average price of $330.83, for a total value of $3,589,505.50. Following the transaction, the chief executive officer owned 43,829 shares in the company, valued at $14,499,948.07. This represents a 19.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,254 shares of company stock valued at $7,888,924 in the last ninety days. 0.89% of the stock is owned by company insiders.

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.