Hancock Whitney Corp recently disclosed that it has cut its stake in shares of Domino’s Pizza, Inc. (NYSE:DPZ) by 15% during the fourth quarter. According to its most recent Form 13F filing with the Securities and Exchange Commission (SEC), the institutional investor owned 3,240 shares of the restaurant operator’s stock after selling 570 shares during the period. The value of Hancock Whitney Corp’s holdings in Domino’s Pizza was approximately $1.12m at the end of the recent quarter.
Domino’s Pizza, Inc.’s recent disclosure revealed that it will pay a quarterly dividend, which was paid on March 30th to stockholders of record as of March 15th. As per this announcement, stockholders were given a dividend of $1.21 per share with an ex-dividend date on March 14th. This represents a positive initiative from Domino’s Pizza as there was an increase in dividend payout ratio from $1.10 to $1.21 per share for this period, resulting in an annualized payout value of $4.84 and dividend yield of 1.47%.
Research analysts who are tracking DPZ have been recommending different views based on their research results lately; BTIG lowered their price objective on DPZ to $400 when analyzing for “buy”, StockNews.com give DPZ a “hold” rating while Credit Suisse Group gives DPZ a neutral rating and lowers their price objective from $375 to $335. Northcoast Research has reiterated that the company retains its “neutral” rating while Wells Fargo & Company raises its target price on DPZ from $300 to $310 and gives it an “equal weight” rating.
Based on data from Bloomberg gathered through extensive research analysis, twenty-nine investment analysts rated Domino’s Pizza stock, only two rated it negatively with sell ratings while eighteen remain at hold ratings and nine placed buy ratings for the company’s stock. The company presently has a consensus rating of ‘hold’ and an average target price forecast to be $352.69. With this development in DPZ, it remains pivotal to watch how its assets management will change the results for its investors moving forward.
Investors Show Interest in Domino’s Pizza with Strong Financial Results and Dividend Yield
Domino’s Pizza was in the news recently with several institutional investors and hedge funds buying and selling shares. Vanguard Group Inc., Renaissance Technologies LLC, Marshfield Associates, Samlyn Capital LLC, and Boston Partners were among the top investors who now collectively own 90.32% of the company’s stock.
On Monday, March 13th, EVP Cynthia A. Headen sold 136 shares of Domino’s Pizza at an average price of $300 per share for a total value of $40,800. This transaction was disclosed in a legal filing with the Securities & Exchange Commission.
The quarterly dividend for Domino’s Pizza was recently announced and paid on Thursday, March 30th. Shareholders received a dividend of $1.21 per share, which represents a positive change from the previous quarterly dividend of $1.10. The annualized dividend yield is 1.47%, while the payout ratio stands at 38.60%.
Domino’s Pizza opened at $330.27 on Tuesday with a market cap of $11.70 billion and a P/E ratio of 26.34 along with a P/E/G ratio of 2.05 and beta value of 0.79.The company has been performing well after reporting earnings results on Thursday, February 23rd which exceeded analysts’ expectations.
With such exceptional investment activity surrounding it and strong financial results being reported regularly, it seems like Domino’s Pizza is poised to continue its success trajectory as we move forward into quarter two of this year!
