Fred Alger Management LLC Trims Stock Holdings in Domino’s Pizza, Inc. (NASDAQ:DPZ)

Fred Alger Management LLC reduced its stake in shares of Domino’s Pizza, Inc. (NASDAQ:DPZ) by 39.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,784 shares of the restaurant operator’s stock after selling 8,367 shares during the period. Fred Alger Management LLC’s holdings in Domino’s Pizza were worth $5,366,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Berkshire Hathaway Inc lifted its holdings in shares of Domino’s Pizza by 86.5% in the 4th quarter. Berkshire Hathaway Inc now owns 2,382,000 shares of the restaurant operator’s stock worth $999,868,000 after acquiring an additional 1,104,744 shares during the last quarter. Norges Bank purchased a new stake in Domino’s Pizza in the 4th quarter worth about $250,571,000. Invesco Ltd. lifted its stake in Domino’s Pizza by 46.0% in the fourth quarter. Invesco Ltd. now owns 609,036 shares of the restaurant operator’s stock worth $255,649,000 after purchasing an additional 191,752 shares during the last quarter. Freestone Grove Partners LP bought a new stake in Domino’s Pizza in the fourth quarter worth about $56,647,000. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of Domino’s Pizza during the fourth quarter valued at approximately $41,701,000. 94.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Bank of America boosted their price objective on Domino’s Pizza from $520.00 to $549.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Barclays lowered their target price on shares of Domino’s Pizza from $425.00 to $420.00 and set an “underweight” rating for the company in a research note on Wednesday, April 30th. Wells Fargo & Company raised their price target on shares of Domino’s Pizza from $445.00 to $465.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 29th. Loop Capital boosted their price objective on shares of Domino’s Pizza from $555.00 to $564.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Finally, Citigroup upped their target price on shares of Domino’s Pizza from $480.00 to $500.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $498.50.

Domino’s Pizza Trading Up 0.5 %

NASDAQ:DPZ opened at $479.37 on Friday. The firm has a fifty day simple moving average of $464.18 and a 200-day simple moving average of $451.90. Domino’s Pizza, Inc. has a 12 month low of $396.06 and a 12 month high of $538.44. The company has a market capitalization of $16.41 billion, a P/E ratio of 29.45, a PEG ratio of 2.47 and a beta of 1.15.

Domino’s Pizza (NASDAQ:DPZ) last released its earnings results on Monday, April 28th. The restaurant operator reported $4.33 EPS for the quarter, topping analysts’ consensus estimates of $4.12 by $0.21. Domino’s Pizza had a negative return on equity of 14.35% and a net margin of 12.26%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the company posted $3.58 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. Equities analysts forecast that Domino’s Pizza, Inc. will post 16.74 EPS for the current year.

Domino’s Pizza Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $1.74 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.96 annualized dividend and a dividend yield of 1.45%. Domino’s Pizza’s dividend payout ratio (DPR) is presently 39.91%.

Insider Activity at Domino’s Pizza

In related news, EVP Reddy Sandeep sold 399 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $462.18, for a total transaction of $184,409.82. Following the sale, the executive vice president now directly owns 8,756 shares of the company’s stock, valued at approximately $4,046,848.08. This represents a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Kevin Scott Morris sold 5,416 shares of Domino’s Pizza stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $437.00, for a total transaction of $2,366,792.00. Following the completion of the transaction, the executive vice president now directly owns 793 shares of the company’s stock, valued at $346,541. The trade was a 87.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,996 shares of company stock worth $3,946,461 over the last three months. Company insiders own 0.83% of the company’s stock.

Domino’s Pizza Profile

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.