Convergence Investment Partners LLC Purchases 633 Shares of Domino’s Pizza, Inc. (NYSE:DPZ)

Convergence Investment Partners LLC lifted its position in Domino’s Pizza, Inc. (NYSE:DPZ) by 83.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,392 shares of the restaurant operator’s stock after purchasing an additional 633 shares during the quarter. Convergence Investment Partners LLC’s holdings in Domino’s Pizza were worth $719,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Domino’s Pizza by 5.8% during the first quarter. Vanguard Group Inc. now owns 4,098,664 shares of the restaurant operator’s stock valued at $2,036,544,000 after purchasing an additional 222,949 shares in the last quarter. Coatue Management LLC acquired a new stake in Domino’s Pizza in the 4th quarter valued at $322,859,000. TD Asset Management Inc grew its position in Domino’s Pizza by 27.8% in the first quarter. TD Asset Management Inc now owns 635,335 shares of the restaurant operator’s stock valued at $315,685,000 after acquiring an additional 138,224 shares during the period. Norges Bank acquired a new position in Domino’s Pizza during the fourth quarter worth $208,604,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Domino’s Pizza by 107.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 444,780 shares of the restaurant operator’s stock valued at $221,003,000 after acquiring an additional 230,090 shares during the period. 94.63% of the stock is owned by institutional investors.

Domino’s Pizza Price Performance

Domino’s Pizza stock opened at $414.21 on Tuesday. Domino’s Pizza, Inc. has a fifty-two week low of $330.05 and a fifty-two week high of $542.75. The firm has a market capitalization of $14.48 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 2.17 and a beta of 0.87. The company’s 50 day simple moving average is $449.99 and its 200 day simple moving average is $475.52.

Domino’s Pizza (NYSE:DPZ) last announced its quarterly earnings results on Thursday, July 18th. The restaurant operator reported $4.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.68 by $0.35. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. Domino’s Pizza had a net margin of 12.42% and a negative return on equity of 14.22%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.08 EPS. As a group, analysts predict that Domino’s Pizza, Inc. will post 16.23 EPS for the current fiscal year.

Domino’s Pizza Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Friday, September 13th. Domino’s Pizza’s dividend payout ratio is currently 39.43%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wedbush reissued an “outperform” rating and set a $575.00 price target on shares of Domino’s Pizza in a report on Monday, July 15th. TD Cowen reissued a “buy” rating and issued a $610.00 target price on shares of Domino’s Pizza in a report on Thursday, July 18th. Oppenheimer reaffirmed an “outperform” rating and set a $580.00 price target on shares of Domino’s Pizza in a report on Friday, July 12th. The Goldman Sachs Group started coverage on Domino’s Pizza in a research report on Thursday, June 13th. They issued a “buy” rating and a $612.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their target price on Domino’s Pizza from $470.00 to $450.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $517.39.

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.