Domino's Pizza, Inc. (NYSE:DPZ) declared a quarterly dividend on Wednesday, February 21st, Wall Street Journal reports. Shareholders of record on Thursday, March 15th will be given a dividend of 0.55 per share by the restaurant operator on Friday, March 30th. This represents a $2.20 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Wednesday, March 14th. This is a positive change from Domino's Pizza’s previous quarterly dividend of $0.46.
Domino's Pizza has increased its dividend by an average of 22.5% per year over the last three years and has increased its dividend every year for the last 4 years. Domino's Pizza has a payout ratio of 31.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Domino's Pizza to earn $9.21 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 20.0%.
Domino's Pizza (DPZ) opened at $227.69 on Tuesday. The company has a debt-to-equity ratio of -1.14, a quick ratio of 1.36 and a current ratio of 1.46. The firm has a market capitalization of $9,905.38, a PE ratio of 38.92, a price-to-earnings-growth ratio of 1.91 and a beta of 0.43. Domino's Pizza has a twelve month low of $166.74 and a twelve month high of $236.00.
Several research firms have weighed in on DPZ. Argus upgraded Domino's Pizza from a “hold” rating to a “buy” rating and lifted their target price for the stock from $221.44 to $260.00 in a report on Wednesday, March 7th. Robert W. Baird began coverage on Domino's Pizza in a report on Monday, March 5th. They set an “outperform” rating and a $260.00 target price on the stock. Citigroup lifted their target price on Domino's Pizza from $217.00 to $232.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Bank of America set a $245.00 price target on Domino's Pizza and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, Credit Suisse Group restated an “outperform” rating and issued a $245.00 price target (up from $235.00) on shares of Domino's Pizza in a report on Wednesday, February 21st. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $232.00.
Domino's Pizza declared that its board has authorized a stock buyback program on Tuesday, February 20th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the restaurant operator to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In related news, CFO Jeffrey D. Lawrence sold 17,000 shares of the company’s 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 sale, the chief financial officer now owns 26,841 shares in the company, valued at $4,962,095.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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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