TD Cowen Cuts Domino’s Pizza (NASDAQ:DPZ) Price Target to $400.00
by Amy Steele · The Cerbat GemDomino’s Pizza (NASDAQ:DPZ – Free Report) had its target price trimmed by TD Cowen from $450.00 to $400.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has a hold rating on the restaurant operator’s stock.
Several other brokerages have also recently issued reports on DPZ. Citigroup dropped their price objective on Domino’s Pizza from $440.00 to $425.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Wells Fargo & Company decreased their target price on Domino’s Pizza from $430.00 to $400.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. Argus upgraded Domino’s Pizza to a “hold” rating in a report on Monday, March 9th. Evercore reissued an “outperform” rating and set a $510.00 price target on shares of Domino’s Pizza in a research report on Tuesday, February 24th. Finally, JPMorgan Chase & Co. upgraded Domino’s Pizza from a “neutral” rating to an “overweight” rating and cut their price target for the company from $460.00 to $450.00 in a research note on Tuesday, February 24th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Domino’s Pizza presently has a consensus rating of “Moderate Buy” and an average price target of $471.79.
Check Out Our Latest Stock Report on Domino’s Pizza
Domino’s Pizza Price Performance
Shares of DPZ opened at $369.00 on Tuesday. The firm has a market capitalization of $12.41 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 1.59 and a beta of 1.18. Domino’s Pizza has a 1-year low of $346.31 and a 1-year high of $499.08. The company has a 50-day moving average of $382.79 and a 200 day moving average of $403.55.
Domino’s Pizza (NASDAQ:DPZ – Get Free Report) last issued its earnings results on Monday, February 23rd. The restaurant operator reported $5.35 EPS for the quarter, missing analysts’ consensus estimates of $5.38 by ($0.03). The company had revenue of $1.54 billion during the quarter. Domino’s Pizza had a negative return on equity of 15.28% and a net margin of 12.18%.Domino’s Pizza’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.89 EPS. On average, equities analysts anticipate that Domino’s Pizza will post 16.74 earnings per share for the current fiscal year.
Domino’s Pizza Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Friday, March 13th were issued a dividend of $1.99 per share. This is an increase from Domino’s Pizza’s previous quarterly dividend of $1.74. This represents a $7.96 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Friday, March 13th. Domino’s Pizza’s dividend payout ratio (DPR) is currently 45.30%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in DPZ. Berkshire Hathaway Inc boosted its holdings in shares of Domino’s Pizza by 13.2% in the 3rd quarter. Berkshire Hathaway Inc now owns 2,981,945 shares of the restaurant operator’s stock valued at $1,287,335,000 after buying an additional 348,077 shares in the last quarter. Marshfield Associates raised its stake in shares of Domino’s Pizza by 4.0% during the 3rd quarter. Marshfield Associates now owns 744,515 shares of the restaurant operator’s stock worth $321,415,000 after acquiring an additional 28,765 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Domino’s Pizza by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,762,568 shares of the restaurant operator’s stock worth $760,939,000 after acquiring an additional 30,647 shares in the last quarter. Mediolanum International Funds Ltd lifted its position in Domino’s Pizza by 209.6% during the third quarter. Mediolanum International Funds Ltd now owns 4,155 shares of the restaurant operator’s stock valued at $1,805,000 after acquiring an additional 2,813 shares during the last quarter. Finally, Machina Capital S.A.S. acquired a new stake in Domino’s Pizza in the third quarter valued at approximately $1,557,000. 94.63% of the stock is currently owned by hedge funds and other institutional investors.
About Domino’s Pizza
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.