CIBC Asset Management Inc Boosts Stake in Domino’s Pizza, Inc. (NYSE:DPZ)

Posted by on Jun 12th, 2023

CIBC Asset Management Inc lifted its holdings in Domino’s Pizza, Inc. (NYSE:DPZ – Get Rating) by 6.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,113 shares of the restaurant operator’s stock after buying an additional 332 shares during the period. CIBC Asset Management Inc’s holdings in Domino’s Pizza were worth $1,771,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of DPZ. General Partner Inc. purchased a new position in Domino’s Pizza during the fourth quarter worth about $28,000. Luken Investment Analytics LLC purchased a new position in Domino’s Pizza during the fourth quarter worth about $35,000. First Horizon Advisors Inc. raised its stake in Domino’s Pizza by 41.7% during the third quarter. First Horizon Advisors Inc. now owns 136 shares of the restaurant operator’s stock worth $41,000 after purchasing an additional 40 shares during the period. Piershale Financial Group Inc. purchased a new position in Domino’s Pizza during the fourth quarter worth about $57,000. Finally, Belpointe Asset Management LLC purchased a new position in Domino’s Pizza during the fourth quarter worth about $63,000. 90.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. TD Cowen reiterated a “market perform” rating and set a $320.00 price target on shares of Domino’s Pizza in a research report on Monday, April 3rd. Morgan Stanley dropped their price target on shares of Domino’s Pizza from $430.00 to $405.00 and set an “overweight” rating for the company in a research report on Friday, February 24th. BMO Capital Markets lifted their price target on shares of Domino’s Pizza from $380.00 to $395.00 in a research report on Friday, April 28th. Evercore ISI dropped their price target on shares of Domino’s Pizza from $415.00 to $370.00 and set an “outperform” rating for the company in a research report on Friday, February 24th. Finally, Gordon Haskett cut shares of Domino’s Pizza from a “buy” rating to a “hold” rating and dropped their price target for the company from $344.00 to $315.00 in a research report on Friday, March 3rd. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $356.04.

Domino’s Pizza Price Performance

Shares of NYSE:DPZ traded up $2.38 during trading on Monday, hitting $300.45. 187,936 shares of the company were exchanged, compared to its average volume of 735,764. The stock has a market capitalization of $10.62 billion, a P/E ratio of 23.02, a PEG ratio of 1.89 and a beta of 0.79. Domino’s Pizza, Inc. has a 12-month low of $285.84 and a 12-month high of $426.44. The firm’s 50 day moving average price is $314.12 and its 200-day moving average price is $332.92.

Domino’s Pizza (NYSE:DPZ – Get Rating) last issued its quarterly earnings data on Thursday, April 27th. The restaurant operator reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.27. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.04 billion. Domino’s Pizza had a net margin of 10.24% and a negative return on equity of 11.07%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.50 EPS. As a group, equities research analysts anticipate that Domino’s Pizza, Inc. will post 13.34 EPS for the current year.

Domino’s Pizza Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be given a $1.21 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $4.84 annualized dividend and a yield of 1.61%. Domino’s Pizza’s dividend payout ratio (DPR) is 37.32%.

Domino’s Pizza Profile

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Domino’s Pizza, Inc engages in the management of a network of company-owned and franchise-owned pizza stores. It operates through the following segments: U.S. Stores, International Franchise, and Supply Chain. The U.S. Stores segment consists primarily of franchise operations. The International Franchise segment comprises a network of franchised stores.

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Institutional Ownership by Quarter for Domino's Pizza (NYSE:DPZ)

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