Convergence Investment Partners LLC Has $1.74 Million Stake in Domino’s Pizza Inc (NYSE:DPZ)
Convergence Investment Partners LLC raised its position in Domino’s Pizza Inc (NYSE:DPZ) by 100.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,202 shares of the restaurant operator’s stock after buying an additional 4,101 shares during the period. Convergence Investment Partners LLC’s holdings in Domino’s Pizza were worth $1,735,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the company. Sigma Planning Corp raised its stake in shares of Domino’s Pizza by 8.5% in the second quarter. Sigma Planning Corp now owns 1,281 shares of the restaurant operator’s stock worth $271,000 after buying an additional 100 shares during the last quarter. Smith Asset Management Group LP acquired a new stake in shares of Domino’s Pizza during the second quarter worth about $45,031,000. DekaBank Deutsche Girozentrale raised its stake in shares of Domino’s Pizza by 28.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,029 shares of the restaurant operator’s stock worth $897,000 after buying an additional 888 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Domino’s Pizza by 124.0% in the second quarter. First Trust Advisors LP now owns 94,465 shares of the restaurant operator’s stock worth $19,982,000 after buying an additional 52,298 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Domino’s Pizza by 1.5% in the second quarter. Arizona State Retirement System now owns 20,300 shares of the restaurant operator’s stock worth $4,294,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 99.37% of the company’s stock.
Domino’s Pizza Inc (DPZ) opened at 192.86 on Monday. Domino’s Pizza Inc has a 12 month low of $143.47 and a 12 month high of $221.58. The stock’s 50 day moving average price is $203.55 and its 200-day moving average price is $193.35. The stock has a market cap of $9.31 billion, a price-to-earnings ratio of 38.33 and a beta of 0.35.
Domino’s Pizza (NYSE:DPZ) last released its earnings results on Tuesday, July 25th. The restaurant operator reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.09. The business had revenue of $628.61 million during the quarter, compared to analysts’ expectations of $609.87 million. Domino’s Pizza had a net margin of 9.40% and a negative return on equity of 13.28%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 earnings per share. Equities analysts expect that Domino’s Pizza Inc will post $5.70 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.46 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.95%. Domino’s Pizza’s dividend payout ratio is currently 36.65%.
Domino’s Pizza announced that its board has approved a share repurchase program on Wednesday, August 2nd that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the restaurant operator to reacquire up to 13.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
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A number of brokerages have issued reports on DPZ. Zacks Investment Research upgraded Domino’s Pizza from a “hold” rating to a “buy” rating and set a $217.00 price target for the company in a research note on Thursday. Longbow Research upgraded Domino’s Pizza from a “neutral” rating to a “buy” rating and set a $229.00 price target for the company in a research note on Friday, July 28th. Stephens upgraded Domino’s Pizza from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $210.00 to $185.00 in a research note on Wednesday, July 26th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $215.00 price target on shares of Domino’s Pizza in a research note on Tuesday, July 25th. Finally, BidaskClub lowered Domino’s Pizza from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $195.38.
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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