iA Global Asset Management Inc. Trims Position in Domino’s Pizza, Inc. (NASDAQ:DPZ)

iA Global Asset Management Inc. cut its holdings in shares of Domino’s Pizza, Inc. (NASDAQ:DPZ) by 69.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,285 shares of the restaurant operator’s stock after selling 2,966 shares during the quarter. iA Global Asset Management Inc.’s holdings in Domino’s Pizza were worth $539,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of DPZ. Principal Financial Group Inc. grew its stake in shares of Domino’s Pizza by 1.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,666,158 shares of the restaurant operator’s stock worth $716,681,000 after purchasing an additional 23,681 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Domino’s Pizza during the 3rd quarter worth approximately $680,000. PNC Financial Services Group Inc. grew its stake in shares of Domino’s Pizza by 4.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 10,381 shares of the restaurant operator’s stock worth $4,465,000 after purchasing an additional 479 shares during the period. Avior Wealth Management LLC grew its stake in shares of Domino’s Pizza by 155.3% during the 3rd quarter. Avior Wealth Management LLC now owns 457 shares of the restaurant operator’s stock worth $197,000 after purchasing an additional 278 shares during the period. Finally, Commerce Bank grew its stake in shares of Domino’s Pizza by 17.7% during the 3rd quarter. Commerce Bank now owns 9,354 shares of the restaurant operator’s stock worth $4,024,000 after purchasing an additional 1,404 shares during the period. 94.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DPZ. Argus cut shares of Domino’s Pizza from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Loop Capital dropped their price target on shares of Domino’s Pizza from $559.00 to $555.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $500.00 price target on shares of Domino’s Pizza in a research note on Thursday, February 20th. Barclays lifted their price target on shares of Domino’s Pizza from $402.00 to $420.00 and gave the company an “underweight” rating in a research note on Tuesday, February 25th. Finally, Robert W. Baird dropped their price target on shares of Domino’s Pizza from $545.00 to $510.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Domino’s Pizza currently has a consensus rating of “Moderate Buy” and a consensus price target of $503.41.

Domino’s Pizza Stock Down 1.0 %

NASDAQ DPZ opened at $461.40 on Friday. Domino’s Pizza, Inc. has a 52 week low of $396.06 and a 52 week high of $542.75. The business’s fifty day simple moving average is $454.96 and its 200-day simple moving average is $439.66. The firm has a market cap of $15.82 billion, a PE ratio of 28.34, a P/E/G ratio of 2.47 and a beta of 1.06.

Domino’s Pizza (NASDAQ:DPZ) last posted its quarterly earnings results on Monday, February 24th. The restaurant operator reported $4.89 EPS for the quarter, missing the consensus estimate of $4.93 by ($0.04). Domino’s Pizza had a negative return on equity of 14.35% and a net margin of 12.26%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the prior year, the firm earned $4.48 EPS. The firm’s revenue was up 2.9% on a year-over-year basis. Research analysts expect that Domino’s Pizza, Inc. will post 16.74 EPS for the current year.

Domino’s Pizza Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $1.74 dividend. This is a positive change from Domino’s Pizza’s previous quarterly dividend of $1.51. This represents a $6.96 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Friday, March 14th. Domino’s Pizza’s payout ratio is 41.70%.

Insider Activity at Domino’s Pizza

In related news, CFO Reddy Sandeep sold 1,077 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $443.20, for a total value of $477,326.40. Following the sale, the chief financial officer now directly owns 8,081 shares in the company, valued at approximately $3,581,499.20. The trade was a 11.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelly E. Garcia sold 2,104 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $436.28, for a total transaction of $917,933.12. Following the completion of the sale, the executive vice president now owns 5,699 shares in the company, valued at approximately $2,486,359.72. This trade represents a 26.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,597 shares of company stock worth $3,762,052. Company insiders own 0.76% 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.