Domino’s Pizza (NASDAQ:DPZ) Price Target Cut to $295.00 by Analysts at TD Cowen

Domino’s Pizza (NASDAQ:DPZ) had its price target cut by research analysts at TD Cowen from $350.00 to $295.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the restaurant operator’s stock. TD Cowen’s target price points to a potential downside of 2.43% from the stock’s current price.

Several other brokerages have also commented on DPZ. Sanford C. Bernstein decreased their price target on Domino’s Pizza from $470.00 to $390.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 28th. The Goldman Sachs Group dropped their price objective on Domino’s Pizza from $480.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Citigroup reduced their price objective on Domino’s Pizza from $365.00 to $335.00 and set a “neutral” rating for the company in a report on Tuesday. Robert W. Baird decreased their target price on Domino’s Pizza from $400.00 to $350.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 23rd. Finally, Jefferies Financial Group lowered their target price on Domino’s Pizza from $400.00 to $350.00 and set a “hold” rating on the stock in a report on Tuesday, April 28th. Seventeen equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $407.00.

Domino’s Pizza Stock Performance

Shares of NASDAQ DPZ opened at $302.35 on Thursday. Domino’s Pizza has a one year low of $282.00 and a one year high of $496.00. The firm has a market capitalization of $10.06 billion, a P/E ratio of 17.41, a PEG ratio of 1.46 and a beta of 0.97. The company’s fifty day moving average is $311.76 and its two-hundred day moving average is $364.01.

Domino’s Pizza (NASDAQ:DPZ) last announced its quarterly earnings results on Monday, April 27th. The restaurant operator reported $4.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.16). Domino’s Pizza had a net margin of 11.89% and a negative return on equity of 15.04%. The company had revenue of $1.15 billion during the quarter. During the same period in the previous year, the company earned $4.33 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. On average, sell-side analysts forecast that Domino’s Pizza will post 18.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Domino’s Pizza news, EVP Kelly E. Garcia sold 487 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $311.74, for a total transaction of $151,817.38. Following the sale, the executive vice president owned 9,352 shares in the company, valued at approximately $2,915,392.48. This represents a 4.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 1,463 shares of company stock worth $466,807. 0.89% of the stock is currently owned by corporate insiders.

Institutional Trading of Domino’s Pizza

Institutional investors and hedge funds have recently made changes to their positions in the stock. Berkshire Hathaway Inc boosted its stake in shares of Domino’s Pizza by 12.3% during the fourth quarter. Berkshire Hathaway Inc now owns 3,350,000 shares of the restaurant operator’s stock valued at $1,396,347,000 after acquiring an additional 368,055 shares during the last quarter. Soroban Capital Partners LP acquired a new position in Domino’s Pizza in the 1st quarter valued at about $895,251,000. T. Rowe Price Investment Management Inc. lifted its holdings in Domino’s Pizza by 0.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,008,278 shares of the restaurant operator’s stock valued at $837,091,000 after purchasing an additional 7,497 shares in the last quarter. State Street Corp boosted its stake in shares of Domino’s Pizza by 3.8% during the 4th quarter. State Street Corp now owns 1,368,924 shares of the restaurant operator’s stock worth $570,595,000 after purchasing an additional 49,613 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Domino’s Pizza by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,026,391 shares of the restaurant operator’s stock worth $432,033,000 after purchasing an additional 19,019 shares during the last quarter. 94.63% of the stock is currently owned by hedge funds and other institutional investors.

Domino’s Pizza Company 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.