JPMorgan Chase & Co. Cuts Domino’s Pizza (NASDAQ:DPZ) Price Target to $350.00

Domino’s Pizza (NASDAQ:DPZ) had its price objective cut by JPMorgan Chase & Co. from $380.00 to $350.00 in a report published on Tuesday,Benzinga reports. They currently have an overweight rating on the restaurant operator’s stock.

DPZ has been the subject of several other reports. Citigroup dropped their price target on Domino’s Pizza from $365.00 to $335.00 and set a “neutral” rating for the company in a research note on Tuesday, July 7th. Evercore reiterated an “outperform” rating on shares of Domino’s Pizza in a report on Thursday, July 9th. Royal Bank Of Canada boosted their price target on shares of Domino’s Pizza from $325.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 21st. Sanford C. Bernstein reissued a “market perform” rating on shares of Domino’s Pizza in a report on Tuesday, July 21st. Finally, BTIG Research restated a “buy” rating and set a $425.00 price objective on shares of Domino’s Pizza in a research report on Tuesday, July 21st. Sixteen research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Domino’s Pizza has a consensus rating of “Hold” and an average price target of $393.39.

Domino’s Pizza Stock Down 1.5%

NASDAQ DPZ opened at $295.00 on Tuesday. Domino’s Pizza has a 52 week low of $282.00 and a 52 week high of $442.35. The company has a market capitalization of $9.76 billion, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 1.38 and a beta of 0.94. The stock’s 50-day moving average price is $331.92 and its 200-day moving average price is $331.56.

Domino’s Pizza (NASDAQ:DPZ) last announced its quarterly earnings data on Monday, July 20th. The restaurant operator reported $4.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.10). Domino’s Pizza had a net margin of 11.86% and a negative return on equity of 15.15%. The company had revenue of $1.19 billion for the quarter. During the same period in the previous year, the business posted $3.81 EPS. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Research analysts anticipate that Domino’s Pizza will post 18.94 EPS for the current year.

Domino’s Pizza Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a dividend of $1.99 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $7.96 dividend on an annualized basis and a yield of 2.7%. Domino’s Pizza’s dividend payout ratio is presently 45.15%.

Insiders Place Their Bets

In other news, EVP Kelly E. Garcia sold 12,430 shares of the business’s stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $322.04, for a total value of $4,002,957.20. Following the sale, the executive vice president directly owned 9,352 shares in the company, valued at $3,011,718.08. The trade was a 57.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Russell J. Weiner sold 10,850 shares of the company’s stock in a transaction dated Friday, July 17th. The shares were sold at an average price of $330.83, for a total transaction of $3,589,505.50. Following the sale, the chief executive officer owned 43,829 shares in the company, valued at $14,499,948.07. This represents a 19.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 23,767 shares of company stock worth $7,737,107. 0.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Domino’s Pizza

Several large investors have recently added to or reduced their stakes in DPZ. Berkshire Hathaway Inc lifted its position 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 worth $1,396,347,000 after purchasing an additional 368,055 shares during the last quarter. Soroban Capital Partners LP bought a new position in shares of Domino’s Pizza in the first quarter worth about $895,251,000. BlackRock Inc. bought a new position in shares of Domino’s Pizza in the second quarter worth about $715,704,000. T. Rowe Price Investment Management Inc. lifted its holdings in Domino’s Pizza by 0.4% during 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 buying an additional 7,497 shares in the last quarter. Finally, Norges Bank bought a new stake in Domino’s Pizza during the 4th quarter valued at about $285,116,000. 94.63% of the stock is owned by institutional investors.

Domino’s Pizza Company Profile

Domino’s Pizza, Inc is a global quick-service restaurant company specializing in pizza delivery and carryout. Its menu includes a variety of pizzas, sides, desserts and beverages, with orders placed through digital platforms, phone ordering and participating stores.

Founded in 1960 in Ypsilanti, Michigan, Domino’s began as a small pizza business and adopted its current name in 1965. The company has expanded through a primarily franchise-based model, supported by company-owned stores and an integrated supply chain that provides food and other products to many participating locations.

Domino’s serves customers in the United States and international markets across North America, Europe, Asia-Pacific, the Middle East, Africa and other regions.