Bank of Nova Scotia Increases Position in Domino’s Pizza, Inc. (NASDAQ:DPZ)

Bank of Nova Scotia increased its stake in shares of Domino’s Pizza, Inc. (NASDAQ:DPZ) by 230.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,816 shares of the restaurant operator’s stock after buying an additional 10,339 shares during the period. Bank of Nova Scotia’s holdings in Domino’s Pizza were worth $6,219,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sherman Asset Management Inc. purchased a new position in shares of Domino’s Pizza in the fourth quarter valued at $25,000. Brown Brothers Harriman & Co. grew its stake in Domino’s Pizza by 1,016.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 67 shares of the restaurant operator’s stock valued at $28,000 after acquiring an additional 61 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Domino’s Pizza by 40.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 91 shares of the restaurant operator’s stock valued at $38,000 after acquiring an additional 26 shares in the last quarter. Lee Danner & Bass Inc. acquired a new position in Domino’s Pizza during the fourth quarter worth about $42,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in Domino’s Pizza during the fourth quarter worth about $55,000. 94.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Domino’s Pizza

In other Domino’s Pizza news, EVP Kelly E. Garcia sold 2,104 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $436.28, for a total value of $917,933.12. Following the completion of the sale, the executive vice president now owns 5,699 shares of the company’s stock, valued at $2,486,359.72. This trade represents a 26.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Reddy Sandeep sold 399 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $462.18, for a total transaction of $184,409.82. Following the transaction, the executive vice president now directly owns 8,756 shares in the company, valued at approximately $4,046,848.08. The trade was a 4.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,996 shares of company stock worth $3,946,461. 0.83% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DPZ. Robert W. Baird dropped their price objective on shares of Domino’s Pizza from $510.00 to $500.00 and set an “outperform” rating for the company in a research note on Monday, April 7th. Oppenheimer raised their price target on Domino’s Pizza from $490.00 to $495.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Citigroup cut their price target on Domino’s Pizza from $500.00 to $480.00 and set a “neutral” rating for the company in a report on Thursday. Argus lowered Domino’s Pizza from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, BMO Capital Markets boosted their target price on shares of Domino’s Pizza from $500.00 to $515.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $499.69.

Domino’s Pizza Price Performance

Shares of NASDAQ:DPZ opened at $462.17 on Friday. The firm has a market capitalization of $15.85 billion, a PE ratio of 28.39, a P/E/G ratio of 2.47 and a beta of 1.15. Domino’s Pizza, Inc. has a 12 month low of $396.06 and a 12 month high of $542.75. The business has a 50-day moving average of $461.95 and a two-hundred day moving average of $444.47.

Domino’s Pizza (NASDAQ:DPZ) last posted its earnings results on Monday, February 24th. The restaurant operator reported $4.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.93 by ($0.04). The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.47 billion. Domino’s Pizza had a negative return on equity of 14.35% and a net margin of 12.26%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the company posted $4.48 EPS. As a group, research analysts anticipate that Domino’s Pizza, Inc. will post 16.74 earnings per share for the current year.

Domino’s Pizza Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $1.74 dividend. This represents a $6.96 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Domino’s Pizza’s previous quarterly dividend of $1.51. Domino’s Pizza’s dividend payout ratio (DPR) is currently 41.70%.

Domino’s Pizza Company 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.