Domino’s Pizza (NASDAQ:DPZ) Upgraded to “Outperform” at Robert W. Baird

Robert W. Baird upgraded shares of Domino’s Pizza (NASDAQ:DPZ) from a neutral rating to an outperform rating in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The firm currently has $400.00 target price on the restaurant operator’s stock, up from their prior target price of $320.00.

DPZ has been the subject of several other research reports. Guggenheim dropped their price objective on shares of Domino’s Pizza from $440.00 to $325.00 and set a “neutral” rating for the company in a research report on Wednesday, September 23rd. Citigroup decreased their price objective on Domino’s Pizza from $335.00 to $308.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 14th. Wells Fargo & Company decreased their price objective on Domino’s Pizza from $350.00 to $320.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 14th. TD Cowen reissued a “hold” rating and issued a $320.00 target price on shares of Domino’s Pizza in a research note on Tuesday, October 13th. Finally, BTIG Research restated a “buy” rating and set a $425.00 target price on shares of Domino’s Pizza in a research report on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Domino’s Pizza currently has an average rating of “Moderate Buy” and a consensus target price of $383.45.

Domino’s Pizza Trading Up 2.5%

Shares of NASDAQ DPZ opened at $341.72 on Friday. The firm has a market capitalization of $11.24 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 1.54 and a beta of 0.95. Domino’s Pizza has a one year low of $282.00 and a one year high of $442.35. The business has a fifty day simple moving average of $312.12 and a 200 day simple moving average of $339.72.

Domino’s Pizza (NASDAQ:DPZ) last announced its quarterly earnings results on Tuesday, October 13th. The restaurant operator reported $4.60 earnings per share for the quarter, beating analysts’ consensus estimates of $4.33 by $0.27. The firm had revenue of $1.19 billion for the quarter. Domino’s Pizza had a negative return on equity of 15.48% and a net margin of 12.03%. The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company earned $4.08 earnings per share. On average, research analysts anticipate that Domino’s Pizza will post 19.10 earnings per share for the current fiscal year.

Domino’s Pizza Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Tuesday, December 15th will be paid a $1.99 dividend. This represents a $7.96 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, December 15th. Domino’s Pizza’s dividend payout ratio (DPR) is 43.86%.

Insider Activity at Domino’s Pizza

In other news, EVP Katherine Trumbull sold 370 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $329.90, for a total value of $122,063.00. Following the transaction, the executive vice president owned 5,785 shares of the company’s stock, valued at approximately $1,908,471.50. This represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Domino’s Pizza

Several hedge funds and other institutional investors have recently made changes to their positions in DPZ. Soroban Capital Partners LP bought a new position in Domino’s Pizza in the 1st quarter valued at approximately $895,251,000. BlackRock Inc. acquired a new stake in shares of Domino’s Pizza during the second quarter valued at about $715,704,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Domino’s Pizza by 247.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 527,246 shares of the restaurant operator’s stock worth $189,171,000 after purchasing an additional 375,709 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Domino’s Pizza by 937,192.2% in the second quarter. Van ECK Associates Corp now owns 478,019 shares of the restaurant operator’s stock valued at $141,513,000 after buying an additional 477,968 shares during the period. Finally, Royal Bank of Canada raised its holdings in Domino’s Pizza by 5.2% in the 1st quarter. Royal Bank of Canada now owns 448,221 shares of the restaurant operator’s stock valued at $160,817,000 after buying an additional 22,320 shares during the last quarter. 94.63% of the stock is currently owned by institutional investors and hedge funds.

More Domino’s Pizza News

Investors following DPZ have been watching these news items:

• Positive Sentiment: Baird upgraded DPZ from “neutral” to “outperform” and raised its price target to $400 from $320, citing an improving sales outlook. The target implies potential upside from the recent share price. Article: Domino’s Pizza shares rise after Baird upgrades stock on improving sales outlook
• Neutral Sentiment: Strong order growth is being offset by weaker average ticket growth, leaving the outlook dependent on whether customer traffic can continue to compensate for lower spending per order. Article: Domino’s Strong Order Trends vs. Weak Ticket Growth: What Lies Ahead?
• Neutral Sentiment: EVP Katherine Trumbull sold 370 shares for about $122,000, reducing her stake by 6.01%; she still held 5,785 shares after the transaction. The sale was modest in scale. Article: Domino’s Pizza Stock: Insider Katherine Trumbull Sells 370 Shares

About Domino’s Pizza

Domino’s Pizza, Inc. is a global pizza company that operates and franchises restaurants specializing in delivery and carryout. Its menu includes pizzas, chicken wings, sandwiches, pasta, bread sides, desserts and beverages, with offerings varying by location. The company traces its roots to a pizza shop opened in Ypsilanti, Michigan, in 1960. It adopted the Domino’s Pizza name in 1965 and has since grown through a predominantly franchised business model, serving customers in the United States and international markets.