Domino’s Pizza Inc. (DPZ) Hits New 52-Week High on Better-Than-Expected Earnings
Shares of Domino’s Pizza Inc. (NYSE:DPZ) reached a new 52-week high on Tuesday following a better than expected earnings announcement. The stock traded as high as $163.73 and last traded at $163.20, with a volume of 2,326,557 shares changing hands. The stock had previously closed at $152.01.
The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.06. The business earned $566.70 million during the quarter, compared to analyst estimates of $339.32 million. Domino’s Pizza had a net margin of 8.45% and a negative return on equity of 11.59%. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 EPS.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.52 dividend on an annualized basis and a yield of 1.00%. Domino’s Pizza’s dividend payout ratio is presently 40.86%.
DPZ has been the subject of several analyst reports. Jefferies Group upped their price objective on Domino’s Pizza from $130.00 to $135.00 and gave the stock a “hold” rating in a research note on Friday, July 22nd. Zacks Investment Research upgraded Domino’s Pizza from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. Beaufort Securities restated a “buy” rating on shares of Domino’s Pizza in a research note on Thursday, October 13th. Maxim Group upped their price objective on Domino’s Pizza from $135.00 to $158.00 and gave the stock a “hold” rating in a research note on Tuesday, October 4th. Finally, TheStreet upgraded Domino’s Pizza from a “hold” rating to a “buy” rating in a research note on Monday, July 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $144.73.
In related news, Director James A. Goldman sold 3,095 shares of the stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $147.66, for a total value of $457,007.70. Following the sale, the director now directly owns 15,167 shares of the company’s stock, valued at approximately $2,239,559.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard E. Allison, Jr. sold 20,000 shares of the stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $146.92, for a total transaction of $2,938,400.00. Following the completion of the sale, the insider now directly owns 42,080 shares in the company, valued at $6,182,393.60. The disclosure for this sale can be found here. 5.03% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the company. Capital Fund Management S.A. raised its stake in Domino’s Pizza by 717.7% in the second quarter. Capital Fund Management S.A. now owns 77,808 shares of the company’s stock worth $10,222,000 after buying an additional 68,292 shares during the period. BlackRock Group LTD raised its stake in Domino’s Pizza by 56.5% in the first quarter. BlackRock Group LTD now owns 114,427 shares of the company’s stock worth $15,089,000 after buying an additional 41,334 shares during the period. Aperio Group LLC raised its stake in Domino’s Pizza by 19.1% in the first quarter. Aperio Group LLC now owns 10,960 shares of the company’s stock worth $1,445,000 after buying an additional 1,760 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in Domino’s Pizza during the first quarter worth $820,000. Finally, LPL Financial LLC raised its stake in Domino’s Pizza by 25.8% in the first quarter. LPL Financial LLC now owns 10,052 shares of the company’s stock worth $1,330,000 after buying an additional 2,062 shares during the period. 95.55% of the stock is currently owned by institutional investors.
The stock has a market cap of $7.88 billion, a P/E ratio of 43.94 and a beta of 0.81. The firm has a 50 day moving average price of $151.21 and a 200-day moving average price of $137.76.
Domino’s Pizza Company Profile
Domino’s Pizza, Inc is a pizza restaurant chain. The Company operates pizza stores at 12,500 locations in over 80 markets. It operates through three segments: domestic stores, international franchise and supply chain. Its Domestic Stores segment consists primarily of its franchise operations, through which it operates network of over 4,820 franchised stores located in the United States.
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