Palisade Capital Management LP Makes New $14.74 Million Investment in Domino’s Pizza Inc $DPZ

Palisade Capital Management LP purchased a new stake in Domino’s Pizza Inc (NASDAQ:DPZ) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 49,795 shares of the restaurant operator’s stock, valued at approximately $14,741,000. Palisade Capital Management LP owned approximately 0.15% of Domino’s Pizza as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of DPZ. Canada Pension Plan Investment Board acquired a new stake in shares of Domino’s Pizza during the second quarter worth $9,252,000. Legal & General Group Plc acquired a new position in shares of Domino’s Pizza in the 2nd quarter valued at $40,955,000. The Manufacturers Life Insurance Company acquired a new position in shares of Domino’s Pizza in the 2nd quarter valued at $6,386,000. Partners Capital Investment Group LLP purchased a new position in Domino’s Pizza in the 2nd quarter worth about $2,791,000. Finally, Cibc World Market Inc. purchased a new position in Domino’s Pizza in the 2nd quarter worth about $3,882,000. Institutional investors and hedge funds own 94.63% of the company’s stock.

Wall Street Analysts Forecast Growth

DPZ has been the subject of a number of analyst reports. Royal Bank Of Canada upped their price objective on shares of Domino’s Pizza from $325.00 to $350.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 21st. Northcoast Research cut their price target on shares of Domino’s Pizza from $525.00 to $445.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Loop Capital restated a “hold” rating and set a $353.00 price target on shares of Domino’s Pizza in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Domino’s Pizza from $435.00 to $385.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, Morgan Stanley lowered their price objective on shares of Domino’s Pizza from $395.00 to $370.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 15th. Sixteen 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 data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $397.42.

Insiders Place Their Bets

In other news, EVP Kelly E. Garcia sold 12,430 shares of the business’s stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $322.04, for a total transaction of $4,002,957.20. Following the transaction, 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 legal filing with the SEC, which is available at this link. Also, CEO Russell J. Weiner sold 10,850 shares of the company’s stock in a transaction on Friday, July 17th. The stock was sold at an average price of $330.83, for a total transaction of $3,589,505.50. Following the completion of the transaction, the chief executive officer directly owned 43,829 shares in the company, valued at $14,499,948.07. This trade represents a 19.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 24,254 shares of company stock valued at $7,888,924 in the last three months. Company insiders own 0.89% of the company’s stock.

Domino’s Pizza Price Performance

Shares of DPZ opened at $349.91 on Wednesday. The business’s 50-day moving average is $326.86 and its 200-day moving average is $346.39. The company has a market capitalization of $11.58 billion, a price-to-earnings ratio of 19.85, a P/E/G ratio of 1.68 and a beta of 0.94. Domino’s Pizza Inc has a fifty-two week low of $282.00 and a fifty-two week high of $469.00.

Domino’s Pizza (NASDAQ:DPZ) last posted its quarterly earnings results on Monday, July 20th. The restaurant operator reported $4.07 EPS for the quarter, missing the consensus estimate of $4.17 by ($0.10). Domino’s Pizza had a negative return on equity of 15.15% and a net margin of 11.86%.The company had revenue of $1.19 billion for the quarter. During the same period in the prior year, the company posted $3.81 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities research analysts expect that Domino’s Pizza Inc will post 18.88 earnings per share for the current fiscal year.

Domino’s Pizza Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $1.99 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $7.96 dividend on an annualized basis and a yield of 2.3%. Domino’s Pizza’s dividend payout ratio is presently 45.15%.

Domino’s Pizza 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.