On April 4th, 2023, the financial world was buzzing with news of Whittier Trust Co. of Nevada Inc.’s recent decision to reduce its position in Domino’s Pizza, Inc. With a 10.5% decrease in their holdings, the institutional investor now owns 11,653 shares of the restaurant operator’s stock worth $4,036,000 as per their most recent SEC filing.
This move by Whittier Trust Co. of Nevada Inc. has left many speculating about their motives for selling a significant portion of their shares in one of the largest pizza chains in the world. Some experts are suggesting that this decision might have been motivated by concerns about Domino’s Pizza’s growth potential or its ability to weather market volatility.
In other news related to Domino’s Pizza, EVP Cynthia A. Headen sold 136 shares of the company’s stock on March 13th at an average price of $300 per share for a total transaction value of $40,800. Following the sale, she now directly owns 4,867 shares worth approximately $1,460,100.
While insider trading is not necessarily indicative of any wrongdoing or illegal activity on behalf of executives within organizations – it can still elicit questions and speculation from investors and analysts alike regarding future performance and potential market trends.
NYSE:DPZ opened at $332.52 on Tuesday April 4th – noteworthy data point for those keeping a keen eye on fluctuations within this rapidly evolving industry segment in modern-day society.
Domino’s Pizza has had a turbulent year with changes and shifts happening often within the market itself but their fifty-two week low stands strong at $291 whereas they reached new all-time highs with a peak at $426.44 something that caught most investors off-guard due to extreme volatility even during during quiet times not affected directly by technological advancements which drive markets into major phases so quick recently like we see today.
In conclusion, the decision to reduce holdings in a widely popular restaurant operator like Domino’s Pizza certainly raises more questions than answers. However, one thing is certain: investors can expect to see increased scrutiny and analysis of market trends as we continue to navigate through an increasingly complex and ever-changing economic landscape.
DPZ Attracts Institutional Investors and Maintains Hold Rating from Analysts
Domino’s Pizza, Inc. (NYSE:DPZ) has recently seen a number of institutional investors increase or decrease their stakes in the company. Samlyn Capital LLC was one such investor, acquiring a new stake during the third quarter worth almost $94 million. Meanwhile, Voya Investment Management LLC increased its holdings in Domino’s Pizza by over 570% during the second quarter, now owning over 271,000 shares valued at almost $106 million. Candlestick Capital Management LP also acquired a new stake during the second quarter, valued at around $64 million.
Fred Alger Management LLC lifted its holdings in the company by almost 142% during the third quarter and now owns over 198,000 shares worth approximately $61 million after acquiring an additional 116,100 shares. Finally, Renaissance Technologies LLC lifted its stake in Domino’s Pizza by almost 9% during the first quarter and now owns over a million shares with a value of more than $423 million.
Institutional investors and hedge funds own roughly 90% of Domino’s Pizza stock.
Several research firms have recently commented on DPZ including TD Cowen which reaffirmed a “market perform” rating and set a $320 price objective on shares of Domino’s Pizza just this week; while BMO Capital Markets lowered their price target from $430 to $380 but still maintained an “outperform” rating last February.
Deutsche Bank Aktiengesellschaft reduced their price objective on DPZ from $351 to $334 and issued a “hold” rating on the stock in late February; while BTIG Research lowered their price objective from $460 to $400 while maintaining their “buy” rating earlier that same month.
According to Bloomberg data, two analysts have given DPZ stock is currently rated as Sell but nineteen analysts have assigned it a Hold rating and nine ones have considered it as Buy. The average target price is evaluated at around $360.
In insider news, Executive Vice President Cynthia A. Headen sold 136 shares of DPZ on March 13th for an average price of $300. Following the completion of the sale, Headen now directly owns almost 4,900 shares in the company valued at around $1.46 million.
In terms of earnings, DPZ reported record EPS for Q4 2016 with $4.43 per share beating consensus estimates of $3.92 and marking a significant increase from Q4 2015’s $4.25 EPS. For Q1 in the current year, research analysts expect the company to post over $12 per share on average despite reduced revenue expectations.
DPZ also announced a recent dividend payment that went to shareholders on March 30th in addition to raising its dividend amount from previous quarters showing another positive indicator for the pizza giant’s future prospects.