TD Cowen Issues Positive Forecast for Domino’s Pizza (NYSE:DPZ) Stock Price

Domino’s Pizza (NYSE:DPZ) had its target price raised by TD Cowen from $475.00 to $515.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

Several other analysts have also issued reports on the company. BMO Capital Markets dropped their target price on Domino’s Pizza from $510.00 to $500.00 and set an “outperform” rating on the stock in a report on Friday, October 11th. Jefferies Financial Group dropped their price objective on Domino’s Pizza from $455.00 to $450.00 and set a “hold” rating on the stock in a research note on Friday, October 11th. Barclays decreased their target price on shares of Domino’s Pizza from $380.00 to $370.00 and set an “underweight” rating for the company in a research note on Friday, October 11th. Evercore ISI cut their price target on shares of Domino’s Pizza from $500.00 to $480.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Finally, Benchmark reaffirmed a “buy” rating and issued a $520.00 target price on shares of Domino’s Pizza in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $495.76.

Domino’s Pizza Stock Performance

NYSE:DPZ opened at $469.20 on Monday. Domino’s Pizza has a 52-week low of $370.17 and a 52-week high of $542.75. The company has a market cap of $16.20 billion, a PE ratio of 28.82, a PEG ratio of 2.44 and a beta of 0.86. The stock has a 50-day simple moving average of $428.20 and a 200 day simple moving average of $454.75.

Domino’s Pizza (NYSE:DPZ) last released its earnings results on Thursday, October 10th. The restaurant operator reported $4.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.65 by $0.54. Domino’s Pizza had a net margin of 12.26% and a negative return on equity of 14.35%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the firm earned $4.18 earnings per share. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, research analysts predict that Domino’s Pizza will post 16.86 earnings per share for the current fiscal year.

Domino’s Pizza Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Friday, December 13th. Domino’s Pizza’s payout ratio is presently 37.10%.

Insider Activity

In related news, Director Andrew Balson sold 6,970 shares of Domino’s Pizza stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $428.27, for a total transaction of $2,985,041.90. Following the sale, the director now directly owns 15,390 shares of the company’s stock, valued at approximately $6,591,075.30. The trade was a 31.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kevin Scott Morris sold 2,646 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $459.00, for a total transaction of $1,214,514.00. Following the transaction, the executive vice president now owns 1,966 shares of the company’s stock, valued at approximately $902,394. This represents a 57.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Domino’s Pizza

Several hedge funds have recently modified their holdings of DPZ. True Wealth Design LLC raised its position in Domino’s Pizza by 2,033.3% in the third quarter. True Wealth Design LLC now owns 64 shares of the restaurant operator’s stock valued at $28,000 after purchasing an additional 61 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in Domino’s Pizza in the 3rd quarter valued at approximately $30,000. Blue Trust Inc. raised its holdings in Domino’s Pizza by 162.5% in the 2nd quarter. Blue Trust Inc. now owns 63 shares of the restaurant operator’s stock valued at $31,000 after buying an additional 39 shares during the last quarter. Versant Capital Management Inc grew its holdings in Domino’s Pizza by 654.5% during the 2nd quarter. Versant Capital Management Inc now owns 83 shares of the restaurant operator’s stock worth $43,000 after acquiring an additional 72 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Domino’s Pizza during the 3rd quarter worth approximately $43,000. Institutional investors and hedge funds own 94.63% of the company’s stock.

About Domino’s Pizza

Domino’s Pizza, Inc, through its subsidiaries, operates as a pizza company in the United States and internationally. The company operates through three segments: U.S. Stores, International Franchise, and Supply Chain. It offers pizzas under the Domino’s brand name through company-owned and franchised stores.