Bank of New York Mellon Corp lowered its stake in Domino's Pizza, Inc. (NYSE:DPZ) by 8.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 543,663 shares of the restaurant operator’s stock after selling 51,375 shares during the period. Bank of New York Mellon Corp’s holdings in Domino's Pizza were worth $102,732,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in DPZ. First Mercantile Trust Co. acquired a new stake in shares of Domino's Pizza in the fourth quarter worth about $145,000. FNY Partners Fund LP acquired a new stake in shares of Domino's Pizza in the third quarter worth about $158,000. Acadian Asset Management LLC lifted its position in shares of Domino's Pizza by 3,482.1% in the fourth quarter. Acadian Asset Management LLC now owns 1,003 shares of the restaurant operator’s stock worth $190,000 after buying an additional 975 shares during the last quarter. Synovus Financial Corp acquired a new stake in shares of Domino's Pizza in the third quarter worth about $206,000. Finally, Advisor Partners LLC acquired a new stake in shares of Domino's Pizza in the fourth quarter worth about $231,000. 99.59% of the stock is owned by institutional investors.
Domino's Pizza, Inc. (NYSE:DPZ) opened at $222.41 on Thursday. The company has a quick ratio of 1.36, a current ratio of 1.46 and a debt-to-equity ratio of -1.14. The company has a market capitalization of $9,730.00, a P/E ratio of 37.70, a price-to-earnings-growth ratio of 1.90 and a beta of 0.45. Domino's Pizza, Inc. has a twelve month low of $166.74 and a twelve month high of $236.00.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 15th will be issued a $0.55 dividend. This is a boost from Domino's Pizza’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $2.20 annualized dividend and a yield of 0.99%. Domino's Pizza’s dividend payout ratio is 31.19%.
Domino's Pizza declared that its board has approved a stock repurchase plan on Tuesday, February 20th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the restaurant operator to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
A number of analysts have weighed in on the company. Citigroup boosted their price target on Domino's Pizza from $217.00 to $232.00 and gave the stock a “neutral” rating in a research report on Monday. Bank of America set a $245.00 price target on Domino's Pizza and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Credit Suisse Group reaffirmed an “outperform” rating and issued a $245.00 price target (up previously from $235.00) on shares of Domino's Pizza in a research report on Wednesday, February 21st. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $230.00 price target (up previously from $200.00) on shares of Domino's Pizza in a research report on Wednesday, February 21st. Finally, Stephens reaffirmed an “overweight” rating and issued a $245.00 price target (up previously from $220.00) on shares of Domino's Pizza in a research report on Tuesday, February 20th. They noted that the move was a valuation call. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Domino's Pizza currently has an average rating of “Buy” and a consensus price target of $226.77.
In other Domino's Pizza news, CFO Jeffrey D. Lawrence sold 17,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $184.87, for a total value of $3,142,790.00. Following the completion of the transaction, the chief financial officer now owns 26,841 shares of the company’s stock, valued at approximately $4,962,095.67. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.57% of the company’s stock.
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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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