Argus upgraded shares of Domino's Pizza (NYSE:DPZ) from a hold rating to a buy rating in a research report released on Wednesday, Marketbeat reports. Argus currently has $260.00 price target on the restaurant operator’s stock, up from their prior price target of $221.44.
Several other brokerages have also recently issued reports on DPZ. Deutsche Bank increased their target price on Domino's Pizza to $220.00 and gave the company a buy rating in a research report on Thursday, January 11th. Stephens reaffirmed an overweight rating and set a $245.00 target price (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. Sanford C. Bernstein reaffirmed a market perform rating and set a $230.00 target price (up previously from $200.00) on shares of Domino's Pizza in a research report on Wednesday, February 21st. Barclays increased their target price on Domino's Pizza from $184.00 to $215.00 and gave the company an equal weight rating in a research report on Thursday, January 11th. Finally, Robert W. Baird started coverage on Domino's Pizza in a research report on Monday, March 5th. They set an outperform rating and a $260.00 target price on the stock. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Domino's Pizza currently has an average rating of Buy and a consensus target price of $232.00.
Domino's Pizza (NYSE:DPZ) opened at $230.26 on Wednesday. The company has a market capitalization of $9,583.60, a price-to-earnings ratio of 39.36, a price-to-earnings-growth ratio of 1.85 and a beta of 0.43. Domino's Pizza has a fifty-two week low of $166.74 and a fifty-two week high of $236.00. The company has a current ratio of 1.46, a quick ratio of 1.36 and a debt-to-equity ratio of -1.14.
Domino's Pizza announced that its Board of Directors has approved a share buyback program on Tuesday, February 20th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the restaurant operator to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.
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 given a dividend of $0.55 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $2.20 dividend on an annualized basis and a yield of 0.96%. This is a boost from Domino's Pizza’s previous quarterly dividend of $0.46. Domino's Pizza’s payout ratio is currently 31.45%.
In other Domino's Pizza news, CFO Jeffrey D. Lawrence sold 17,000 shares of Domino's Pizza stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $184.87, for a total transaction of $3,142,790.00. Following the completion of the sale, the chief financial officer now owns 26,841 shares of the company’s stock, valued at approximately $4,962,095.67. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.57% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of DPZ. Viking Global Investors LP lifted its position in Domino's Pizza by 473.7% during the 4th quarter. Viking Global Investors LP now owns 2,058,468 shares of the restaurant operator’s stock worth $388,968,000 after acquiring an additional 1,699,678 shares during the period. William Blair Investment Management LLC raised its stake in shares of Domino's Pizza by 83.2% during the 4th quarter. William Blair Investment Management LLC now owns 1,573,333 shares of the restaurant operator’s stock valued at $297,297,000 after buying an additional 714,414 shares during the last quarter. Jackson Square Partners LLC raised its stake in shares of Domino's Pizza by 821.9% during the 4th quarter. Jackson Square Partners LLC now owns 347,558 shares of the restaurant operator’s stock valued at $65,674,000 after buying an additional 309,857 shares during the last quarter. Old Mutual Global Investors UK Ltd. raised its stake in shares of Domino's Pizza by 64.1% during the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 783,625 shares of the restaurant operator’s stock valued at $148,073,000 after buying an additional 306,003 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Domino's Pizza during the 3rd quarter valued at about $32,236,000. 94.20% of the stock is owned by institutional investors.
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Domino's Pizza Company Profile
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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