Connor Clark & Lunn Investment Management Ltd. Takes Position in Domino’s Pizza Inc $DPZ

Connor Clark & Lunn Investment Management Ltd. bought a new position in Domino’s Pizza Inc (NASDAQ:DPZ) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 77,306 shares of the restaurant operator’s stock, valued at approximately $22,886,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Berkshire Hathaway Inc raised its stake in shares of Domino’s Pizza by 12.3% in the 4th quarter. Berkshire Hathaway Inc now owns 3,350,000 shares of the restaurant operator’s stock worth $1,396,347,000 after buying an additional 368,055 shares in the last quarter. Soroban Capital Partners LP bought a new position in Domino’s Pizza during the first quarter valued at about $895,251,000. BlackRock Inc. acquired a new position in Domino’s Pizza during the second quarter worth about $715,704,000. T. Rowe Price Investment Management Inc. grew its holdings in Domino’s Pizza by 0.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,008,278 shares of the restaurant operator’s stock worth $837,091,000 after acquiring an additional 7,497 shares during the period. Finally, State Street Corp raised its position in Domino’s Pizza by 3.8% in the fourth quarter. State Street Corp now owns 1,368,924 shares of the restaurant operator’s stock worth $570,595,000 after acquiring an additional 49,613 shares in the last quarter. 94.63% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Domino’s Pizza news, EVP Kelly E. Garcia sold 12,430 shares of the stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $322.04, for a total transaction of $4,002,957.20. Following the transaction, the executive vice president directly owned 9,352 shares of the company’s stock, valued at $3,011,718.08. This represents a 57.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Russell J. Weiner sold 10,850 shares of the firm’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 approximately $14,499,948.07. This trade 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 a total of 24,254 shares of company stock worth $7,888,924 in the last 90 days. 0.89% of the stock is owned by insiders.

Domino’s Pizza Stock Up 2.1%

Shares of Domino’s Pizza stock opened at $349.01 on Tuesday. Domino’s Pizza Inc has a 12 month low of $282.00 and a 12 month high of $469.00. The stock has a market cap of $11.55 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 1.65 and a beta of 0.94. The business has a fifty day simple moving average of $326.27 and a 200-day simple moving average of $346.76.

Domino’s Pizza (NASDAQ:DPZ) last announced its quarterly earnings data on Monday, July 20th. The restaurant operator reported $4.07 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the firm earned $3.81 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. Analysts expect that Domino’s Pizza Inc will post 18.88 EPS for the current fiscal year.

Domino’s Pizza Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $1.99 per share. The ex-dividend date 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 (DPR) is currently 45.15%.

Analyst Upgrades and Downgrades

Several research firms recently commented on DPZ. UBS Group reissued a “buy” rating on shares of Domino’s Pizza in a research note on Tuesday, July 21st. Stifel Nicolaus set a $400.00 price target on shares of Domino’s Pizza in a research report on Monday, April 27th. Citigroup dropped their price target on Domino’s Pizza from $365.00 to $335.00 and set a “neutral” rating on the stock in a report on Tuesday, July 7th. The Goldman Sachs Group cut their price objective on Domino’s Pizza from $480.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Finally, BMO Capital Markets reduced their price objective on Domino’s Pizza from $450.00 to $420.00 and set an “outperform” rating for the company in a research note on Tuesday, July 21st. Sixteen investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $397.42.

Domino’s Pizza Profile

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.